News analysis Amid soaring inflation, mainland China and Hong Kong central banks chose to respond in opposing ways to the U.S. Federal Reserve’s aggressive interest rate hikes, with China loosening its monetary policy, and Hong Kong raising interest rates. On June 15, the Fed raised the primary credit rate by 75 basis points, the largest increase…
Behind China and Hong Kong’s Different Responses to US Interest Rate Hikes
July 3, 2022
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Chinese Credit Service Shares Customer Data With Central Bank Amid Regulatory Crackdown
Chinese credit and loan service company Huabei will send its customer data to a database run by China’s central bank. The move signals more regulatory oversight of the financial technology industry. Huabei, which means “just spend it” in Chinese, stated in a notification released on Sept. 22 that consumer credit data has been integrated into…
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