On Friday morning, the People’s Bank of China released the loan prime rate (LPR), China’s benchmark lending rate, for May. While one-year LPR was unchanged from the previous month at 3.7%, the …
Monthly Archives For May 2022
China’s growth, stability serve as regional public goods, says World Bank economist
(Xinhua/Li Bo) “China has become more and more important for this region,” and what happens in China matters for the whole region, World Bank East Asia and Pacific Chief Economist Aaditya Mattoo told …
China cuts 5Y Loan Prime Rate more than expected
China has cut its five-year Loan Prime Rate more than expected while keeping the one-year rate the same. Why? Supporting the property market may be part …
China’s tech prowess will limit damage of economic vulnerabilities
First, decades ago, China could profit from the largest pool of cheap labor in human history. Second, its low wages persuaded manufacturers in wealthy countries to offshore their operations to …
China’s international schools hit by exodus of teachers due to Covid-19 curbs
SHANGHAI – After teaching for three years at an international school in Shanghai, Michael is preparing to break his contract and leave, worn down by measures against the coronavirus.Following two …
Myanmar only reports four new Covid-19 cases as it receives vaccine syringes from China
Myanmar health authorities received more Covid-19 vaccine syringes donated by China at the Yangon international airport on Thursday, said the state-run television channel MRTV.
China pharmaceutical maker CanSino rallies in Hong Kong and Shanghai trading after Covid-19 vaccine gets WHO approval
The move opens a door for the company’s one-dose Convidecia vaccine to enter the global market CanSino shares slid at least 79 per cent over the past year amid increased competition and falling …
Vietnamese volunteer: COVID-19 has deepened my love for Shanghai
Many foreign expats in Shanghai have joined as volunteers in the eastern Chinese mega city’s fight against its worst COVID-19 outbreak. Vietnamese Nguyen Huong Giang and her Venezuelan husband …
China cuts key mortgage reference rate as Covid-19 bites
China on Friday announced it would cut a key interest rate in a boost to home buyers and debt-mired developers as the country’s economy is slowed by Covid-19 restrictions ripping across major cities.
European shares rally as China central bank stimulus lifts recovery hopes
Miners and energy stocks led gains, lifting the pan-European STOXX 600 index up 0.8%. China offered some glimmers of hope, as the central bank’s latest move to cut its five-year loan prime rate by a…
Latest on the worldwide spread of the coronavirus
Shanghai reported new COVID-19 cases outside quarantined areas for the first time after five days of no infections, prompting stricter curbs in a district, but plans to end a prolonged city-wide …
Iron ore leads China ferrous rally on bigger borrowing rate cut
This also follows Beijing’s oft-repeated pledge of further support to cope with COVID-19 challenges in China, the world’s top steel producer. “The cut suggests that China is making great efforts to …
EXCLUSIVE China quietly increases purchases of low-priced Russian oil
China is quietly ramping up purchases of oil from Russia at bargain prices, according to shipping data and oil traders who spoke to Reuters, filling the vacuum left by Western buyers backing away from …
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