China News
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China’s government said the nation’s financial system must “better” serve economic growth under a prudent monetary-policy framework as the cost of borrowing on the interbank market surged.
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China’s stocks fell to a six-month low as surging money-market rates signal a cash shortage is worsening and speculation grew regulators are considering resuming approvals of initial public offerings.
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Hong Kong’s central bank extended its investigation of possible misconduct in setting the city’s benchmark interest rates to HSBC Holdings Plc and other lenders after crackdowns by the U.S., U.K., Japan and Singapore.
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Prudential Financial Inc. hired Eryck Su as managing director and chief investment officer of its Asia-Pacific real estate business as the second-largest U.S. life insurer pursues deals in China.
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