Chinese, economic downturn and credit default risk is prominent, which makes Hongkong financial industry nerves, Hongkong the HKMA has asked for China tightening, business loans, China dignitaries also blocked by. The mainland property market went through Hongkong, housing prices have "sea", in the Hongkong monetary authority to tighten credit of enterprises, capital chain will be further pressure, breach of contract or the inevitable.

Hongkong gold tube on the Mainland Enterprises Bureau tightened credit

Since the mainland since the year of junior high school Chinese credit support default events, was recognized this year enterprise debt crisis will erupt, default is big probability events. To break the rigid calls NIKKO, finally achieved a breakthrough in the ultradian debt a private enterprise industrial debt. And local enterprises, big run Xing home buyers unable to repay a loan of 3500000000 yuan, the financial industry that will trigger a chain reaction.

Risk, corporate debt issues of concern for the market, there are signs that, regulators are trying to allow some defaults, loan activities to restrain reckless, central bank officials in the near future for market participants in the speech also mentioned this principle.

And the government action, the mainland across the river Hongkong nerves. Reuters quoted the 27 sources who said, Hongkong the HKMA has asked banks to tighten Chinese enterprise offshore loan approval process.

The Hongkong monetary authority has not released any specific or official guidelines, but recently a series of measures are pressuring banks, requiring banks to further improve the process and control. Banks have implemented strict credit approval process, which reduces the number of non-performing loans from risk.

In recent years, Hongkong's banks to loan amount, from scratch, surged to $430000000000. According to the bank for International Settlements (BIS) data shows, foreign banks in the mainland claims last year reached $1, while ten years ago the figure is close to 0. Hongkong is the largest source of these loans, up to $430000000000 of loans issued, was equivalent to 165% of Hongkong's GDP.

The Hongkong monetary authority's data also showed the same amazing fact: as of the end of 2013, the Bank of Hongkong to the mainland industry net creditor to total debt close to 40%, while in 2010 this proportion is close to 0.

China power has been blocking

Although the detailed distribution cannot be learned of the $430000000000 loan, but most of such loans to enter the real estate and financial department. Reuters citing a Moodie director said, the trade financing, including Hongkong's blue chip companies in the mainland business loans, but also from Chinese banks to provide loans secured.

Mention of trade financing, many people can associate to bet on yuan appreciation arbitrage, in such transactions, investors and foreign trade enterprises to rely on fictitious trade foreign exchange cash to the mainland, bypassing the regulatory capital to earn a higher rate of return.

Chinese dignitary to transfer money to overseas, stir in the world economy and restless, as foreign capital and obtain low interest loans directly, take the form of false trade it back Chinese, using money shortage caused by rising interest rate arbitrage, and capital into real estate market, to create more and more big bubble, finally the appreciation of the renminbi profits to flee.

Bankers said, most of these loans are not fully to make the exchange rate risk hedging, which led to the devaluation of the renminbi will once, these foreign capital was more losses. Hongkong the HKMA to tighten monetary policy, Chinese power has been blocking.

Mainland enterprises through Hongkong "sea" funds chain to pressure or breach of contract

LPC data shows, 2013 Hongkong loans $80000000000 record high in 2012, more than 86%. This nearly 70% enterprises from China, compared Chinese continent in Hongkong, raising $can save about 30 basis points of interest.

Hongkong the HKMA spokesman said, the HKMA's regulatory focus, to ensure that the bank has set up the control system robust enough to manage the particular risks. In this regard, has asked banks to strengthen liquidity management, we examine the sources of financing and loan business plan, and make appropriate decisions when necessary. Moreover, the bank should not relax the effective loan approval prudential standards, these principles apply to all types of loan.

In the mainland property market more and more not to be optimistic at the same time, more and more developers begin to layout the overseas market, have "sea through Hongkong". Recently, Vanke B H (domestic listed foreign shares to overseas listed foreign shares listed on the main board of Hongkong stock exchange to), poly Hongkong with housing prices listed in Hong Kong, the two modes of financing, the intent is to lower the cost of financing in the overseas market.

Property inventory / sales and withdrawal from circulation of funds, developers face the difficult problem of shortage of funds, the housing enterprises is an indisputable fact. As of March 26th, the Shanghai and Shenzhen two city has 56 listed enterprises released annual report 2013. From the listed enterprises has released the 2013 annual report of view, the whole funds are tight. Based on the mainland leading enterprises Vanke as an example, year-on-year net cash flow at minus 146%, operating cash flow is only 1923000000 yuan, is nearly five year low in 2012, is about 3725000000 yuan.

Rong Sheng, Beijing urban construction, real estate development XinDa and cities 4 companies operating activities net cash flow of 3000000000 Yuan more than the negative. 56 enterprises annual report released in 29 business net cash flow is negative. Large enterprises in Financial Street, the Beijing urban construction, Guancheng chase the net cash flow of year-on-year decline in more than 100%.

Hongkong the HKMA continued tightening of financial funds,, mainland enterprises because of funding constraints to more difficult financing in Hongkong, the capital chain further pressure, rate of default, or unavoidable. In the face of this year as high as 5.32 yuan the scale of trust products due to focus, trust industry told reporters: "this year will certainly be the emergence of real estate trust project default!"