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☆ Why Hong Kong can’t cut loose from the US dollar just yet
  + stars: | 2023-06-13 | by ( Laura He | ) edition.cnn.com   time to read: +11 min
Hong Kong CNN —Hong Kong’s currency is facing its biggest test since the global financial crisis of 2008. The steep fall is a sign that investors are ditching the Hong Kong dollar. The Hong Kong Monetary Authority (HKMA) is committed to keeping the Hong Kong dollar between 7.75 and 7.85 per greenback. People walk past the Hong Kong Monetary Authority (HKMA) on May 4, 2023, in Hong Kong, China. “Pegging the Hong Kong dollar to the US dollar encourages such transactions to be carried out in Hong Kong and under Hong Kong law, even if neither party is based in Hong Kong.”This helps to create jobs and prosperity in Hong Kong, while also benefiting mainland China.
Persons: Hong, hasn’t, Andy Xie, ” Logan Wright, Bill Ackman’s, Ackman, Wright, Peter Parks, Kong, Deng Xiaoping, Margaret Thatcher, outflows, Chi Lo, Chen Yongnuo, Hong Kong’s, ”, Richard Cookson ,, Boaz Weinstein, Daniel Fung, Rhodium’s Wright, Xie, Eddie Yue, Banks, John Greenwood, “, Greenwood, ” Greenwood Organizations: Hong Kong CNN, British, Hong, Traders, Hong Kong, Bill Ackman’s Pershing, Capital Management, Getty, Lehman Brothers, Hong Kong Monetary Authority, US Federal Reserve, Asia Pacific, BNP, Asset Management, Fed, China News Service, Rubicon Fund Management, Bloomberg, Saba Capital Management, National Security Law, CNN Locations: Hong Kong, United States, China, Hong, Beijing, AFP, Britain, “, ”, Riding
☆ China is facing a population crisis but some women continue to say 'no' to having babies
  + stars: | 2023-04-10 | by ( Charmaine Jacob | ) www.cnbc.com   time to read: +7 min
D3sign | Moment | Getty ImagesChina is facing a population crisis in part due to more women choosing to focus on their careers and personal goals, instead of starting a family. Helping women strike the balanceTrip.com is one Chinese company that takes pride in trying to encourage more women to have children. Women in China who want to freeze their eggs must be married, according to Chinese regulations. However, some women in China want children but may not be ready to get married, said Mu the assistant professor from NUH. Shannon a single motherAdditionally, women who divorce after having children face social stigma and struggle to balance their career while raising a child alone.
☆ Debt woes and zero-Covid: China's cities are running out of cash to pay huge bills
  + stars: | 2022-12-02 | by ( Laura He | ) edition.cnn.com   time to read: +9 min
They spent 11.8 trillion yuan ($1.65 trillion) more than they raised in revenue between January and October, borrowing heavily to do so, according to data from China’s Ministry of Finance. Andy Wong/AP‘Widest in history’For nearly three years, local governments have borne the brunt of enforcing pandemic controls. The weak fiscal position of local governments has been a drag on the country’s overall financial standing. Kevin Frayer/Getty ImagesLow income, high costsWhy are local governments in this parlous state? In May, Beijing told local governments that they had to bear the costs for regular Covid testing in their regions.
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