China has banned a number of banks to provide loans in the offshore Renminbi


Moscow. January 27. The people’s Bank of China instructed a number of Chinese banks in Hong Kong to suspend the lending of offshore Renminbi unless absolutely necessary in order to restrain short selling and reduce liquidity, reported Bloomberg sources familiar with the situation.

The order, in particular, has received Bank of China Hong Kong and ICBC Asia.

This indication came from Chinese Central Bank on 11 January. On the same day, the NSC through several banks bought the yuan offshore market, said two of the sources. The yuan in Hong Kong January 11 strengthened by 1.5% against the background of rumors about the intervention of the Central Bank.

The NBK has also instructed a number of Chinese banks and companies to collect information about the orders to the short sale of offshore yuan since January 1 after he noticed abnormal movement in this market at the end of last year, according to sources.