China summons banks over sanctions fears – media

Must read

Texas gunman wasn’t confronted outside school, official says, in new timeline of school massacre

Victor Escalon, Regional Director of the Texas Department of Public Safety South, speaks during a press conference in Uvalde, Texas on May 26. (Eric...

Official: Texas gunman not confronted before entering school

Victor Escalon, Regional Director of the Texas Department of Public Safety South, speaks during a press conference in Uvalde, Texas on May 26. (Eric...

Zelensky: Russian action in Donbas is ‘obvious policy of genocide’

4 hr 22 min agoZelensky says Russian action in Donbas is "an obvious policy of genocide"From CNN's Hira Humayun Ukrainian President Volodymyr Zelensky speaks during...

The latest on the Russian invasion of Ukraine

8 min agoLeading experts accuse Russia of inciting genocide in Ukraine and intending to "destroy" Ukrainian peopleFrom CNN's Ivana KottasováRussia's actions in Ukraine provide enough...

The Chinese government reportedly held an internal conference with officials from foreign and local banks as the nation seeks to protect overseas assets from US sanctions over potential military tensions in Taiwan.

The meeting between officials from China’s Central Bank and Finance Ministry, as well as executives from foreign and domestic lenders, was held on April 22, FT reported on Sunday, citing people familiar with the discussion.

“If China attacks Taiwan, decoupling of the Chinese and western economies will be far more severe than [decoupling with] Russia, because China’s economic footprint touches every part of the world,” one of the people briefed on the meeting told the media.

Chinese officials are reportedly worried that penalties similar to those imposed on Russia over the military operation in Ukraine could be introduced against China in the event of a regional military conflict or other crisis.

Beijing has repeatedly criticized the US for maintaining official contact with Taiwan, saying it infringes on China’s sovereignty and territorial integrity, and causes instability in the region. The government of China has also threatened to take the island by force.

Taiwan has been self-governed since 1949, but never formally declared independence from China. Beijing views the island of 23.5 million as a breakaway territory, under its One-China policy.

For more stories on economy & finance visit RT’s business section

More articles

Latest article

Texas gunman wasn’t confronted outside school, official says, in new timeline of school massacre

Victor Escalon, Regional Director of the Texas Department of Public Safety South, speaks during a press conference in Uvalde, Texas on May 26. (Eric...

Official: Texas gunman not confronted before entering school

Victor Escalon, Regional Director of the Texas Department of Public Safety South, speaks during a press conference in Uvalde, Texas on May 26. (Eric...

Zelensky: Russian action in Donbas is ‘obvious policy of genocide’

4 hr 22 min agoZelensky says Russian action in Donbas is "an obvious policy of genocide"From CNN's Hira Humayun Ukrainian President Volodymyr Zelensky speaks during...

The latest on the Russian invasion of Ukraine

8 min agoLeading experts accuse Russia of inciting genocide in Ukraine and intending to "destroy" Ukrainian peopleFrom CNN's Ivana KottasováRussia's actions in Ukraine provide enough...

Ukrainian President’s statement came as Russian forces intensify their bombardment of areas in eastern Ukraine

2 hr 33 min agoIt's 7 a.m. in Kyiv. Here's what you need to knowRussian forces are intensifying attacks in eastern Ukraine as they...