Beijing’s economic stimulus has finally arrived. China’s Ministry of Finance on Friday will sell 1 trillion yuan, or $138 billion, of ultra-long special sovereign bonds. This paves the way for more policy support to spur…
Monthly Archives For May 2024
China Takes Down $1.9 Billion Underground Banking Ring Tied to USDT Transactions
Authorities from China have revealed an underground bank grift exposing illegal operations involving the prominent stablecoin Tether (USDT).
Zeekr tops IPO goal to raise $441 million
Biggest since Didi The listing by Zeekr is the biggest by a China-based firm in the U.S. since Didi Global Inc.’s $4.4 billion IPO almost three years ago. Days after the ride-hailing firm went public,…
Vladimir Putin’s Pomp-Filled China Trip Underscores the Limits of Western Pressure
It was a display of unity that will disappoint Western leaders, who have spent the last few months trying to press home to Xi that his backing of Putin harms China’s own interests.
China announces sweeping steps to stabilise crisis-hit property sector
China on Friday announced some of its most sweeping measures yet to stabilise the crisis-hit property sector, allowing local governments to buy “some” apartments, relaxing mortgage rules and pledging further efforts to deliver unfinished homes.
China rolls out new measures to fix its property crisis, spur growth
The announcement by the People’s Bank of China said that effective Saturday, the interest rate for first-time housing provident fund loans for under 5 years will be cut by 0.25 percentage point to …
COVID KP.2 Variant: China Says New Variant Unlikely To Cause Fresh Wave of Infections
The new KP.2 variant of COVID-19 has become a cause of concern as several cases have been reported across the world. However, the health authorities of China say that this variant is unlikely to …
China expected to stand pat on lending rates in May
China is widely expected to hold benchmark lending rates steady on Monday, a Reuters survey showed, although expectations are growing for a cut in the mortgage reference rate as the authorities scramble to boost housing.
China Removes Mortgage Rate Floor for Individual Homebuyers
China removed the floor on mortgage rates and lowered the minimum down payment ratios for individual homebuyers in its most drastic move to shore up the beleaguered property market.
China issues first batch of 30-year stimulus bonds at yield of 2.57%
The bid-to-cover ratio for the first tranche of the special bonds was 3.91 times, suggesting solid demand for such bonds …
China’s yuan weakens as dollar rebounds, disappointing data weighs
HONG KONG: China’s yuan eased on Friday as the US dollar rebounded and a flurry of domestic data pointed to weaker retail sales and investment, suggesting the world’s second-largest economy is still struggling for traction.
China pledges to buy apartments and finish stalled housing projects
China on Friday announced plans for local governments to buy “some” apartments and pledged forceful efforts to deliver unfinished homes, as part of a new round of measures to stabilise the crisis-hit …
China’s factories fire up but consumer slump persists
China’s factory output topped forecasts in April, helped by improving external demand, although retail sales unexpectedly slowed and the property sector remained a drag on the economy, piling pressure …
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