Recessions start in the more volatile, higher stages of production and work their way through the economy like a pig in a python. China's manufacturing sector is contracting, the heavy industry and resource extraction provinces are in recession. There will be no painless rebalancing.
HKMA fines Hua Nan Commercial Bank HK$9m for Anti-Money Laundering breaches
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Source: HK Monetary Authority | Source date: 19-Apr-2024 22:23
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