Breaking | Beijing launches US$15b asset swap to support China’s markets after sell-off

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China’s central bank announced on Monday it would start a fresh round of a swap facility to support the struggling A-share market, after its worst sell-off in almost a decade dealt a heavy blow to investor confidence and threatened to bring new risks to the country’s financial system. The People’s Bank of China (PBOC) would have a one-year swap that allows institutional investors to exchange illiquid assets for liquid ones with the central bank to buy stocks, according to its...

Beijing’s office overseeing Hong Kong affairs has called on the city to improve its systems for nurturing, appointing and managing governance talent as a way to bring in more personnel with integrity and competence into the governing team. In a commentary, the theoretical study group of the State Council’s Hong Kong and Macau Affairs Office (HKMAO) stressed that the city would only enjoy more room to open up and develop when national security was firmly safeguarded. It urged greater attention to

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