Tag "SHIBOR"

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Asia Pacific Finance

China to Audit Local Governments and Reduce Financial Risk

On July 28th, China’s National Audit Office (NAO) announced that it will conduct a nationwide audit of government debt as Beijing tries to ascertain the financial risks to China’s continued

Asia Pacific Finance

China’s Tug of War Between Central and Commercial Banks

Chinese banks experienced an unexpected credit crunch in the past weeks. On June 20, the Shanghai Interbank Offered Rate (SHIBOR) and overnight repo rate reached, at certain points, 25% and 30%