China discusses protecting assets from U.S. sanctions with banks -FT

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A general view of skyline buildings, in Hong Kong

(Reuters) – Chinese regulators held an emergency meeting with domestic and foreign banks to discuss how they could protect China’s overseas assets from U.S.-led sanctions similar to those imposed on Russia after its invasion of Ukraine, The Financial Times reported, citing people familiar with the discussion.

The internal conference, held on April 22, included officials from China’s central bank and finance ministry and executives from local and international banks, the report said.

(Reporting by Sabahatjahan Contractor in Bengaluru; Editing by Chris Reese)

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