China

Traction from its wealth management business will support profits.

Current CEO Neil Ge will be retiring from the bank at the end-June 2022.

Top banks reportedly mull passing some of their business to small domestic-focused peers to avoid secondary sanctions.

Any move to play saviour could also damage China, warns Natixis.

This comes after Beijing vowed to keep the property market stable.

The market is expected to register a strong growth of 17% in 2022.

Capital will be used to develop cross-border services and push sustainability strategy.

The impact on mortgage loans will not be felt until January 2023.

Transaction size reached $156.24b in 2021.

Decisions on green finance now will lock in emissions trajectories for decades.

Banks remain cautious over credit quality–and further cuts will do little to change their minds.

If authorities remove the “execution-only” restriction in WM Connect, money flows in the channel could grow ten times bigger than the $22.5b quota, says EY’s Christine Lin.

And China urges lenders to extend support to advanced manufacturers, other industries.

Digital renminbi will test banks’ ability to address risks.

The central bank is willing to lend 60% of the required funds at a 1.75% rate.

By end-2021, HSBC will have 64 working in its China onshore private banking.