Chinese move on finance
CHINESE banks have quietly lent billions of dollars to blue chip western shipowners since the banking crisis broke in September 2008 and traditional home turf sources of funds dried up overnight, ship finance specialists in Hong Kong have confirmed.
Stringent banking secrecy makes the overall total impossible to quantify, although anecdotal evidence suggests that the number of deals is up by a factor of over 10, albeit from a low base.
Bank of China, Industrial and Commercial Bank of...
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