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Qatar Tribune
3 days ago
- Business
- Qatar Tribune
QC explores ways to enhance ties with ICBC
Tribune News Network Doha Qatar Chamber Acting General Manager Ali Bu Sharabak Al Mansori met Guo Hao, deputy general manager of the Industrial and Commercial Bank of China (ICBC) – Doha (QFC) branch, at the chamber's headquarters. The meeting discussed prospects for cooperation between the two sides to enhance commercial and economic ties between Qatar and China, particularly in the private sector, in addition to exploring the investment climate and opportunities available in both countries. Al Mansori praised the cooperative relations between Qatar and China in various fields, especially in trade and economy, noting that China is one of Qatar's largest trading partners. He also highlighted the strong ties between the Qatari and Chinese private sectors. He affirmed that Qatar Chamber supports the establishment of genuine and solid partnerships between Qatari and Chinese companies. He invited Chinese firms to invest in Qatar, particularly in the industrial sector, and to benefit from the attractive investment climate, the advantages offered to foreign investors, the abundance of investment opportunities, and the country's advanced infrastructure. For his part, Guo Hao stated that the Industrial and Commercial Bank of China, is the leading member of the Chinese Business Council in Qatar and is keen to strengthen cooperation with Qatar Chamber to advance trade and economic relations between the two countries. He pointed out that ICBC Doha, in cooperation with the Chinese Business Council, is working to attract Chinese investments to Qatar and promote the country as a regional business hub in the region, highlighting Qatar's attractive and investor-friendly environment.
South China Morning Post
15-07-2025
- Business
- South China Morning Post
Chinese firms' Hong Kong stocks trade at smallest discount to onshore shares in 5 years
The Hong Kong shares of dual-listed Chinese companies are trading at the smallest discount to their onshore peers in nearly five years, as a weaker US dollar spurs inflows and mainland investors snap up these stocks. The H shares of 160 firms, including Industrial and Commercial Bank of China and BYD , are trading 22 per cent below their mainland-listed A shares, according to a Hang Seng gauge tracking the disparity between the two markets. That marked the smallest gap since June 2020, as trading averaged 29 per cent over the past year. For dual-listed Chinese companies, their Hong Kong-traded stocks are known as H shares and the mainland tranche is referred to as A shares. The narrowing discrepancy reflects how H shares have enjoyed bigger gains since the start of the year, with the Hong Kong stock market benefiting from global investors' efforts to diversify investments amid a weakening US dollar, as the Trump administration's erratic tariff policy dented the dollar's status as a reserve currency. China's onshore investors have also rushed to H shares in droves to gain exposure to the nation's biggest technology companies, which stand to thrive on breakthroughs in the field of artificial intelligence 'We are still positive on Hong Kong stocks, which are below the historical average in valuation and are set to benefit from a rebalancing of global capital allocations,' said Bao Chengchao, an analyst at Guolian Minsheng Securities. 'In terms of liquidity, the interest-rate cuts by the Fed are pencilled in for this year and mainland buying is expected to gain momentum in the long run.'
Business Recorder
10-07-2025
- Business
- Business Recorder
China stocks rise as investors seek policy-backed sectors
HONG KONG: China and Hong Kong stocks closed higher on Thursday, as investors concerned about the economic outlook rotated into sectors expected to benefit from government policies, with property stocks outperforming. At the close, the Shanghai Composite index was up 0.48% at 3,509.68, recording a near 3 and a 1/2 year high. The blue-chip CSI300 index was up 0.47%. In Hong Kong, benchmark Hang Seng was up 0.6%, but the index tracking tech giants dropped 0.3%. Market participants are closely monitoring any policy stimulus signals after China's producer deflation deepened in June to its worst level in almost two years. Real estate stocks rallied as some investors speculated on fresh stimulus, such as a potential resumption of the shantytown renovation program. Hong Kong-listed property stocks and mainland property shares jumped 4.1% and 2.6% respectively. Longan Group surged more than 20% after the homebuilder said it has secured bondholder approval for its onshore debt restructuring plan. 'Economic fundamentals could worsen visibly in H2 this year, with demand turning much weaker on multiple fronts,' Ting Lu, chief China economist at Nomura, warned in a note, adding that slowing export growth, weighed by US tariffs, and continued distress in the property sector remain key risks. 'We believe Beijing will very likely rush to roll out a new round of supportive measures at some point during H2,' he said. Besides real estate, photovoltaic companies rose 1.7% as China vowed to curb solar overcapacity. Heavyweight banks extended their gains to touch a record high in the morning trade. The banking sub-index finished the session up 0.9% Shares of banking giant Industrial and Commercial Bank of China jumped 2.9%.
India.com
29-06-2025
- Business
- India.com
Pakistan to get another loan worth billions from..., it is because...
New Delhi: Pakistan and China have finalized commercial loan agreements worth $3.7 billion this week. This means that China is going to give Pakistan a huge loan. After this loan from China, Pakistan's foreign exchange reserves will increase to $12.4 billion, which had come down to just $8.9 billion last week due to which Pakistan was facing the threat of bankruptcy. How much is Pakistan's foreign exchange? A Bloomberg report has confirmed, citing sources, that the Industrial and Commercial Bank of China (ICBC) and the Bank of China have signed a $1.6 billion deal on Friday, June 27. This loan is expected to help Pakistan meet its IMF target of ending the fiscal year with gross reserves of $14 billion. These agreements have come at a time when Pakistan's foreign exchange reserves have reached a mere $8.9 billion, more than half of which is being repeatedly 'rolled over' by China. According to reports, Beijing has kept Pakistan financially alive by continuously advancing cash deposits of $4 billion, commercial loans of $5.4 billion, and trade finance facility of $4.3 billion. What does Chinese loan mean to Pakistan? According to the report, on May 19, Pakistan's Deputy Prime Minister Ishaq Dar, who is also the country's Foreign Minister, visited Beijing and during this time an agreement was reached between the two countries regarding the loan. According to the report, the loans taken by Pakistan from China have an average floating interest rate of 7.5%. Pakistan's entire economic strategy now revolves around China. Cash loans from Beijing, unfinished projects under CPEC (China-Pakistan Economic Corridor), and emergency credit lines being continuously taken from Chinese banks have made Pakistan's economic policy completely dependent on China. How much is Pakistan's total debt? At present, Pakistan's total debt to China is around $26 billion, which includes cash deposits, commercial loans and export-import financing. China is repeatedly 'rolling over' this debt, but this has become a permanent debt spiral rather than a relief. Reports from June 2025 say that Pakistan's current account deficit is growing, the rupee is unstable, and food and fuel prices are constantly rising. Foreign investment has almost stopped, and domestic industries are dying due to lack of power and raw materials while policymakers have ignored warnings from international agencies. But interest rates are rising, and repayment deadlines are approaching. Pakistan has to pay back about $25-27 billion in the next 12 months, with most of the debt taken from China, Saudi Arabia and the United Arab Emirates (UAE).
Express Tribune
29-06-2025
- Business
- Express Tribune
$3.7 billion loan deals finalised with China
Listen to article Pakistan and China have signed $3.7 billion equivalent commercial loan deals this week, pulling the foreign exchange reserves back to the double-digits from the critically low level of $8.9 billion in last week. The deals would also help meet a commitment with the International Monetary Fund to close the fiscal year 2024-25 with $14 billion gross foreign exchange reserves. Official sources told The Express Tribune that the Industrial and Commercial Bank of China (ICBC) and the Bank of China have signed a total $1.6 billion deals on Friday. The money will be disbursed by Monday, which is the last day of the current fiscal year. At one stage it appeared that China may not sign the $1.6 billion deals this week, which resulted in hectic backdoor economic diplomacy. The sources said that Deputy Prime Minister Ishaq Dar played a critical role in finalising the deals after he was approached by the finance ministry. Dar first started pursuing the Chinese authorities on May 19 that eventually led to the signing and disbursement of $2.1 billion commercial loan by a syndicate of three Chinese commercial banks this week. A $2.1 billion or 15 billion RMB syndicate financing loan by three Chinese commercial banks matured a few days ago, which pulled the reserves down to $8.9 billion, said the sources. Unlike rollovers of Chinese cash deposits of $4 billion, the Chinese commercial loans have to be first repaid before these are refinanced on new terms and conditions. China has given this $2.1 billion money in RMB currency, which is also reflected in the foreign exchange reserves of the central bank. As a result, the foreign exchange reserves jumped to $12.4 billion on Friday, said the sources. The China Development Bank has given 9 billion RMB, Bank of China 3 billion RMB and ICBC 3 billion RMB. The loan is being extended for a period of three years, said the government sources. There were still $1.6 billion pending amounts, which were slipping to next fiscal year. Ishaq Dar on Friday received confirmation from the Chinese authorities that the remaining two commercial loans have also been finalized and the money will be disbursed very soon, the sources added. In total, Pakistan and China have finalized $3.7 billion worth of commercial loans deals in the past few days. The Friday deal included a $1.3 billion loan of the Industrial and Commercial Bank of China (ICBC). The ICBC had given the loan two years ago at floating interest rates, which translated to around 7.5%. The Bank of China's $300 million loan was also finalized and will be disbursed in Chinese currency. The move to delink loans from the US dollar is not Pakistan specific rather it is part of the overall Chinese policy to decouple its economy from the US currency. Pakistan remains dependent on Beijing for remaining afloat, the friendly nation that is constantly rolling over the $4 billion cash deposits, $5.4 billion worth commercial loans and $4.3 billion trade financing facility. The ADB-backed $1 billion foreign non-Chinese commercial loan was also disbursed last week. During the week ended on 20th June, the SBP reserves decreased by $2.7 billion to $9.1 billion due to external debt repayments, mainly repayment of commercial borrowing, according to a statement that the central bank issued on Friday. During the current week, SBP has received commercial loans equivalent to $3.1 billion and multilateral loans of over $500 million, it added. The foreign exchange reserves slipping to below $9 billion mark underscores the vulnerability of the fragile external sector stability. Heavy dependency on foreign borrowings should also be a matter of concern for the government. The rupee-dollar parity has again started coming under pressure after the central bank went on a heavy buying spree, said the sources. There was also a shortage of foreign currency in the market, which was leading to depreciation of the rupee and compelling commercial banks not to open letter of credits for the imports. Finance Minister Muhammad Aurangzeb has said that the foreign exchange reserves would close over $14 billion by the end of this fiscal year. Islamabad has also sought the rescheduling of the government's concessional loans, preferential buyer credit, and the buyer's credit from the Export-Import (Exim) Bank of China. China has not agreed to reschedule the buyer's credit loans, they added. China has shown willingness to reschedule $1.8 billion worth of government concessional loans and the preferential buyer credit by next month. These loans have been taken for various projects and are over and above the commercial financing that Chinese banks have given to Pakistan.
