People familiar with the matter revealed that Chinese financial regulators demand domestic bankIn response to a research report on the Chinese financial industry issued by Goldman Sachs Group.
According to Bloomberg News on Wednesday (July 12), a person familiar with the matter was quoted that after the report of the report of China Bank under Goldman Sachs issued a report, the Chinese State Administration of Finance and Administration communicated with several domestic banks.These banks responded appropriately to Goldman Sachs's report.
Goldman Sachs released a research report on the Chinese banking industry on July 4, saying that the local government's debt was huge and there was a certain risk of breach of contract.Loss of profit.At the same time, Goldman Sachs rated the rating of Agricultural Bank of China, Industrial and Commercial Bank of China, and Industrial Bank in the report.
As soon as the report came out, the Chinese bank stocks led the decline. The Hong Kong Hang Seng Hong Kong Stock Connect China Bank Index fell 3.6%last Thursday (July 6), which was close to four months.Return, as of Tuesday (11th), Bloomberg Information's bank stock index fell 14%from the high point in May this year, with a market value of $ 78 billion (about 104.3 billion yuan).
Reported that when Goldman Sachs report was published, investors were increasingly worried about the health of local government financing tools in China ’s debt.Under the pressure of China's loose monetary policy and loan demand, banks are facing new challenges because the Chinese government has required banks to reduce debt and extend loans for developers with cash shorts to help the real estate industry in trouble.
In response to the Goldman Sachs report, the China Official Media Securities Times last Friday (7th) criticized Goldman SachEssence
The China Merchants Bank, which has been rated twice twice in less than three months, also criticized that some of the text of Goldman SachEssenceChina Merchants Bank also believes that the report to calculate the potential loss is "incompatible" and "lack of basic common sense", and overestimates the risk exposure of China Merchants Bank in local government financing instruments (LGFV).
Bloomberg analyzed that Chinese official media refuted Goldman Sachs high -profile, hoping to suppress the market's negative emotions, and also showed that in addition to worrying about the rise in debt pressure and rising financial pressure, Beijing was also disturbed by the weakening of investors' confidence.
