In the third quarter, the Bank's cross-border banking demand index fell from one quarter to the next and demand in the following quarter was reversed due to trade wars – Economic Express ET Net



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10/07/2018 16:13

The third quarter of the international index of cross-border demand of banks of the Bank of China fell from one quarter to the next, the demand of the following quarter being due to the trade war

(International) published, although the world economy continued to recover in the second quarter, the opening of the central government and a moderate control of the policy of capital outflow tends to be clear, but the Sino-US trade war and the depreciation of the Renminbi, cross-border enterprises in the mainland
The demand for Hong Kong banking has softened: to third quarter of this year, the international index of cross-border demand of the Bank of China Bank registered 56.3, down 0.6 from the previous quarter
.
The index of the company index was 54.6, down 0.3 from 0.2 in the previous quarter, the index of the index individual was 63.0,
down 1.5 after a continuous increase in the previous two quarters. . In the third quarter, the regulation of businesses and individuals tightened the expectations index by 48.1
and 50.3 respectively, down 1.3 and 1.1 from the previous quarter.
The chief economist and general manager of CITIC Bank's research department, Liao Qun, said the demand for service-related products refers to 5 drops of 3 liters in the index
. .8 Trade Finance has not seen a trade war dragged down, has not declined
has risen, becoming the largest increase, reaching 1.7.
Liao pointed out that this increase should be attributed to Hong Kong's total foreign trade volume and trade volume in the second quarter, which was unaffected by the trade conflict
and continues to grow rapidly . And the reminder.
Cross-border demand for personal services related to the six services / products declined significantly, with the largest decline in the credit card index setting at 4.6
.
Liao said that this decline is more unexpected: in addition to the Sino-US trade war and the depreciation of the renminbi, personal consumption has become cautious, related to the use of Alipay in Hong Kong by the
continental, mortgages and personal loans. Continued decline has prevented residents of the continent from buying apartments in Hong Kong
which has also slowed down the pace of their investment in real estate in Hong Kong. (kz)

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