Hong Kong’s exposure to Evergrande crisis ‘very minimal’ and no threat to city’s financial stability, top official says

Hong Kong’s exposure to the unfolding debt crisis at developer China Evergrande Group is “very minimal” – at 0.05 per cent, or HK$14 billion (US$1.79 billion), of local banking assets – and poses no threat to financial stability, according to the city’s finance chief.Financial Secretary Paul Chan Mo-po told the Post he had arrived at that conclusion after a recent audit of the local banking sector’s exposure to the company…
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