LOOSE CHANGE

LOOSE CHANGE

The Chinese government is in favour of retaining the Hong Kong dollar's peg to the U.S. dollar, says Bank of China (BOC) chairman Wang Qiren. "In the absence of a better foreign exchange management system for the Hong Kong dollar, the peg should be retained," Wang told newsmen at the groundbreaking ceremony for the Bank of China's new headquarters extension in Singapore. BOC has become the first Chinese bank to issue Hong Kong dollars.

The U.S. Supreme Court has upheld the $25.8 million June

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