Unexpected trim in key lending rate likely heralds further steps to stimulate China’s economy.
Monthly Archives For June 2023
China’s central bank cuts key short-term policy rate for first time since August
T he People’s Bank of China cut its seven-day reverse repurchase rate by 10 basis points from 2% to 1.9%, according to a central bank release, injecting 2 billion yuan ($279.97 million) through its …
China’s yuan strikes 6-month low after central bank cuts interest rate
China’s yuan weakened to a six-month low against the dollar on Tuesday, after the Chinese central bank lowered a short-term lending rate to help the economy through its shaky post-pandemic recovery.
China cuts short-term borrowing costs to support recovery
China’s central bank lowered a short-term lending rate for the first time in 10 months on Tuesday, to help restore market confidence and prop up a stalling post-pandemic recovery in the world’s second …
Over 180,000 prosecuted in China for financial fraud since 2018
Since 2018, procuratorial organs across China have filed charges against more than 180,000 people suspected of committing financial fraud and disrupting the financial management order. More than …
China considers broad stimulus with property support, rate cuts -Bloomberg News
China is considering at least a dozen stimulus measures including interest-rate reductions to support areas such as real estate and domestic demand, Bloomberg News reported on Tuesday citing people familiar with the matter.
Huawei wins lion’s share of China Mobile’s 5G base station contracts, in much needed boost to revenue
Huawei secured 52 per cent of the China Mobile 5G contracts, representing 45,426 base stations, well ahead of cross town rival ZTE with 23,227 5G base stations After a 5G buildout frenzy over the past…
US scales up its ‘entity list’ to crack down on China’s technology rise
Washington’s irrational obsession of targeting China’s rising technology prowess in name of the so-called national security protection lays bare the US’ desperate attempt to maintain supremacy in …
China Steel Scrap Imports Soared In First Four Months Of 2023
Imports of steel scrap totalled 230,000 mt in the first four months of 2023, up 204% YoY. With the liberalisation of imports of raw materials for secondary steel from January 1, 2021, steel scrap imports…
House demands AI update from Pentagon as threats from China, other adversaries pile up
House lawmakers are pushing the Defense Department for detailed explanations of how artificial intelligence is being incorporated into its national security plans.
Palestinian President Abbas begins China visit as Beijing seeks larger role in Mideast
Palestinian President Mahmoud Abbas began a visit to China on Tuesday that comes as Beijing is seeking a larger role in Middle East politics and competing for energy resources.
USD/CNY: Renminbi falters ahead of key China and US news
The renminbi crash continued this week ahead of key economic events in the United States and China. The USD/CNY soared to a high of 7.15 on Tuesday, the highest level since November last year. Its…
China holds live-fire drills in East China Sea north of Taiwan
China began military exercises in the East China sea to the north of Taiwan on Tuesday, including live-fire exercises from warships, as the U.S and its allies conduct their drills in the Western Pacific.
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