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Category: FINANCE

Posted on 16/01/2021

China’s yuan replaces US dollar as most used currency in Greater Bay Area: central bank

The yuan replaced the US dollar as the most used currency in transactions in the Greater Bay Area development zone, a local branch of the country’s central bank said. ( read original story ...)

Posted on 16/01/2021

Xi Focus-Quotable Quotes: Xi Jinping on Asian Infrastructure Investment Bank

Photo taken on Jan. 13, 2021 shows the headquarters building of the Asian Infrastructure Investment Bank (AIIB) in Beijing, capital of China. (Xinhua/Li Xin) President Xi Jinping has firmly supported ... ( read original story ...)

Posted on 16/01/2021

China’s economy set to receive ‘necessary support’ for coronavirus recovery this year, central bank says

The People’s Bank of China says there will be no U-turn on its policy stance this year as the world’s second largest economy continues to recover from the coronavirus pandemic. ( read original story ...)

Posted on 16/01/2021

China central bank vows consistent policies to keep housing prices stable

China's central bank will keep its regulation on the real estate sector consistent to promote the sector's healthy and stable development, an official said Friday. The central bank will stick to the ... ( read original story ...)

Posted on 16/01/2021

Will Biden’s US$1.9 trillion ‘American Rescue Plan’ be a boon for China, or could excessive liquidity lead to financial trouble?

If approved, the latest US coronavirus stimulus package would pump even more liquidity into the global economy, and much of that could rapidly flow into China, where investment returns are higher. ( read original story ...)

Posted on 15/01/2021

80% of Beijing’s public spending goes to improving people’s lives

Over 80% of Beijing's public spending went to projects in education, healthcare, and employment to improve people's lives during the 13th Five-Year Plan period (2016-2020), according to the Beijing ... ( read original story ...)

Posted on 15/01/2021

China urged to tap RCEP trade deal for future digital payments system as US sanctions loom

Prominent economist Liu Xiaochun says China should consider establishing a digital settlement and remittance mechanism as an alternative to the US dollar-dominated SWIFT system. ( read original story ...)

Posted on 15/01/2021

Ant Group Is Moving Quickly to Comply With Regulations, China’s Central Bank Says

Ant is working expediently to rectify its business practices and comply with regulatory requirements, a top Chinese central bank official. ( read original story ...)

Posted on 15/01/2021

Ant Group kicks off the overhaul of its fintech operations under the watchful eyes of China’s central bank and financial regulators

The update on Ant Group’s ongoing reorganisation offers the first glimpse of the Chinese government’s stance on a company that powers more than half of all electronic payments in the country, since ... ( read original story ...)

Posted on 15/01/2021

Analysis: Investors resigned to Trump’s China ban, with Biden seen changing little

Financial executives are settling in for the long haul over the Trump administration's investment ban on Chinese securities, expecting the rules to be lasting but hoping to have more clarity after ... ( read original story ...)

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