SOCIETE GENERALE Trader Reduces Communist China Counterparty Exposure

Several informed sources revealed, Societe Generale has several hundreds of millions of dollars in positions on Communist China’s Financial Futures Exchange. They said that the French bank is trying to replicate these positions in other parts of Asia.

The global banks are seeking to protect themselves from the potential impact of rising caused by Communist China’s geopolitical risk; like other institutions and multinationals, Societe Generale’s management executives are growingly concerned about a series problem that have hit Communist China in recent months, though the nation remains one of the key parts of its strategy.One of the main concerns is the fact that Beijing and Washington’s spat is intensifying over Taiwan. Meanwhile the U.S. has increasingly pressured banks and demanded them to answer whether they would withdraw from Communist China in the event of the Chinese Communist Party (CCP) invading Taiwan. According to the bank’s website, its Asia-Pacific business includes corporate, investment banks, asset management, securities services and global transaction banks.

Communist China’s Financial Futures Exchange provides services such as listing, trading, clearing and settlement for financial derivatives.

Although Societe Generale’s exposure is relatively in control, but its recent moves highlighted the increased risk aversion in the sector, which has been expanding its exposure to Communist China for many years.

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Translator: Himalaya NZ Translation Team
Design&editor: HBamboo(昆仑竹)

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