Hong Kong regulator probes Citic for offshore financing

Pedro Gonçalves
clock • 1 min read

The HKMA is investigatingChina Citic Bank Internationalfor financing large scale overseas asset purchases by Chinese conglomerates  that are under scrutiny for circumventing mainland capital controls, the FT  reports. A team from HKMA has been sent to China Citic to probe overseas borrowing activities from companies such as airline and finance provider HNA and real estate developer and former part SeaWorld owner Zhonghong Zhuoye. The HKMA's probe into the bank started last year and continued for several months, the FT said, adding that the regulator was accompanied by big four auditor...

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