{"id":5083,"date":"2006-09-29T00:00:00","date_gmt":"2006-09-29T00:00:00","guid":{"rendered":""},"modified":"-0001-11-30T00:00:00","modified_gmt":"-0001-11-30T04:00:00","slug":"china-banking-chairman-warns-of-hedge-fund-risk","status":"publish","type":"post","link":"https:\/\/hedgeco.net\/news\/09\/2006\/china-banking-chairman-warns-of-hedge-fund-risk.html","title":{"rendered":"China&#8217;s Banking Chairman warns of Hedge Fund risks."},"content":{"rendered":"<p>HedgeCo.Net (New York) &#8211; At the end of April 2006, there were altogether over 28,000 banking institutions in Mainland China. The total assets of the banking industry registered nearly <span class=\"caps\">RMB40<\/span> trillion, accounting for more than 90 per cent of the total financial assets in the Mainland.<\/p>\n<div class=\"writeboardbody\">\n<p>    In 2005, 72 foreign banks from 21 countries have established 254 operational entities in the Mainland. Their total assets amounted to $88 billion. In addition, hedge funds and non banking    financial institutions, including finance companies affiliated to enterprise groups, trust &amp; investment companies and financial leasing companies are now organizing business re-engineering by    actively drawing experiences from their counterparts in Hong Kong.  <\/p>\n<p>    In short, the Mainland banking industry as a whole has been moving forward on the right track.  <\/p>\n<p>    But China\u00c3\u00a2\u00e2\u201a\u00ac\u00e2\u201e\u00a2s banking regulatory head said steps are being taken to regulate the increasingly powerful $1.2 trillion hedge fund industry,<br \/>    \u00c3\u00a2\u00e2\u201a\u00ac\u00c5\u201cRegulators in all countries should strengthen the monitoring of hedge funds and be on alert against any counterparty and liquidity risks they introduce,\u00c3\u00a2\u00e2\u201a\u00ac\u00c2\u009d Liu Mingkang, head of China Banking    Regulatory Commission, said in a statement.  <\/p>\n<p>    The notice followed meetings that Liu held with his counterparts from Singapore, Italy, Germany, Thailand and Hong Kong from September 16 to 26. Liu suggested that regulators should exchange    information about hedge funds promptly to make sure their trading does not cause regional or global economic instability.  <\/p>\n<p>    Liu noted the increasing activity of hedge funds in Asian countries including China, India, Singapore, Hong Kong and Thailand.  <\/p>\n<p>    His suggestion comes days after U.S. hedge fund Amaranth Advisors disclosed the biggest hedge fund loss ever, about $6 billion, on wrong-way natural gas market trades.  <\/p>\n<p align=\"left\">    Alex Akesson<br \/>    Contributing Writer<br \/>    HedgeCo.Net<br \/>    Email: <a href=\"mailto:Editor@hedgeco.net\">Editor@hedgeco.net<\/a>   <\/p>\n<div align=\"left\">\n<p align=\"left\">      HedgeCo.Net is a premier hedge fund database and community for qualified and accredited investors only. Membership on www.hedgeco.net is FREE and EASY. We also offer FREE LISTINGS for Hedge      Funds!    <\/p>\n<div align=\"left\">\n<p align=\"left\">        <strong>Be sure to check out our sister sites. <a href=\"http:\/\/www.hedgefundlounge.com\/\">www.hedgefundlounge.com<\/a>, <a href=        \"http:\/\/www.hedgefundtools.com\/\">www.hedgefundtools.com,<\/a><\/strong> and <a href=\"http:\/\/www.hedgefundemployment.com\/\"><strong>www.hedgefundemployment.com.<\/strong><\/a>      <\/p>\n<\/p><\/div>\n<\/p><\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>HedgeCo.Net (New York) &#8211; At the end of April 2006, there were altogether over 28,000 banking institutions in Mainland China. The total assets of the banking industry registered nearly RMB40 trillion, accounting for more than 90 per cent of the [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[3],"tags":[],"class_list":["post-5083","post","type-post","status-publish","format-standard","hentry","category-hedgeco-news"],"_links":{"self":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts\/5083","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/comments?post=5083"}],"version-history":[{"count":0,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts\/5083\/revisions"}],"wp:attachment":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/media?parent=5083"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/categories?post=5083"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/tags?post=5083"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}