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Issue #595

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2014 Media Kit

StanChart says not pulling out of China commodities financing

By: | at 04:44 AM | Ports & Terminals  

Standard Chartered said on Tuesday it acknowledges there are issues in China around commodity financing and while it is monitoring the situation, it is not pulling out of its commodity financing business in the country.

Arun Murthy, global head of comomodities at Standard Chartered, also said in an email response to Reuters that commodity financing remained a key focus for the bank.

His comments come amid a probe into suspected fraud at Qingdao port that has raised broader worries about the risks of metal financing in China.