On September 15, U.S. time, Lehman Brothers published an announcement on the company's website, stating that it had submitted a bankruptcy application in accordance with the relevant provisions of the U.S. Corporate Bankruptcy Act.

The bankruptcy of Lehman, which "made history", affected the global and Chinese economies. On the same day, September 15, China time, the People's Bank of China announced a reduction in loan interest rates and deposit reserve ratios.

As for the macro impact of this series of events, Chen Xingdong, managing director and chief economist of BNP Paribas Securities (Asia) Co., Ltd., believes that “the rescue actions of Asian governments and the impact from the external United States It remains to be seen how these two forces will compete," Chen said. "It is necessary for China to loosen its monetary policy, but what is unexpected is the interest rate cut. I think the symbolic significance of the (interest rate cut) is greater than the actual effect. Can the loan limit be relaxed? It is estimated that other Asian countries will follow China and relax their monetary policies, thereby entering a new cycle of stimulating economic growth to offset the impact of the U.S. economic recession. ”

< p>The U.S. economy is in a slowdown phase. In the past month, the U.S. unemployment rate has risen to its highest point in five years, reaching 6.1%. At the same time, the most worrying inflation hit a 17-year high in July, reaching 5.6%. At this time, Lehman's bankruptcy triggered a change in China's monetary policy. The central bank's adjustment actions basically changed the previous tight policy to a proactive monetary policy, which alleviated the current situation of widespread tension in the capital chain.

In an interview with "Chinese Entrepreneur", independent economist Xie Guozhong believed: "A further recession in the U.S. economy will make it more difficult for China's exports." At the same time, "more attention should be paid to investing in these countries in crisis. Xie believes that "losses on these investments will be inevitable." For example, Bank of China, whose New York branch is on the list of unsecured creditors of Lehman Brothers, holds Lehman. The brothers' unsecured bonds exceed $50 million.

Let’s look at the impact on Lehman’s China business. On September 16, Lehman announced that: Lehman Brothers Asia Limited, Lehman Brothers Securities Asia Limited, and Lehman Brothers Futures Asia Limited have suspended business operations, including terminating trading on the Hong Kong Stock Exchange and Hong Kong Trading on futures exchanges. Lehman Brothers Asset Management Ltd. will continue to operate.