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Location of Hong Kong. Hong Kong is an autonomous territory of the People's Republic of China on the Pearl River Delta of East Asia. [1] Hong Kong is one of the world's most significant financial centres, with the highest Financial Development Index score and consistently ranks as the world's most competitive and freest economic entity.
In Hong Kong, HIBOR is officially called the "Hong Kong Dollar Interest Settlement Rates". It is defined in the Guide to Hong Kong Monetary, Banking and Financial Terms as "The rate of interest offered on Hong Kong dollar loans by banks in the interbank market for a specified period ranging from overnight to one year."
As one of the top five financial centres worldwide, Hong Kong has one of the highest concentrations of banking institutions in the world, with 70 of the largest 100 banks in the world having an operation in Hong Kong. As of 2019, there were 164 licensed banks, 17 restricted licence banks and 13 deposit-taking companies in business, constituting ...
The Hong Kong Monetary Authority will follow the US Federal Reserve in keeping interest rates close to zero through 2022 to support the battered economy, a strategy that is set to attract fund ...
HSBC is one of the three commercial banks which are authorised to issue banknotes for Hong Kong - the other two being the Bank of China (Hong Kong) and Standard Chartered Bank (Hong Kong). [5] Of the total notes in circulation measured by value, HSBC is the most prolific issuer, its notes representing 67.7% of those in issue.
In June 2021, Reckitt announced it would be selling its infant-formula and child-nutrition business in China to Primavera for $1.3 billion. [20] In October 2021, Primavera announced a strategic investment in Envision Energy. [21] In November 2021, Primavera joined as a new investor for GoTo. [22]
The annual interest rate is the rate over a period of one year. Other interest rates apply over different periods, such as a month or a day, but they are usually annualized. The interest rate has been characterized as "an index of the preference . . . for a dollar of present [income] over a dollar of future income". [1]
Personal loan: Personal loans can also be an alternative to short-term loans. The terms and rates you get vary depending on your credit, but they’re usually much better than most short-term loans.