China’s central bank lowered the benchmark lending rate for loans with tenors of five years or more, a move that could help lower financing costs for struggling businesses.
FINANCE
China holds one-year benchmark lending rate, but mortgage reference rate cut amid economic slowdown
China’s one-year loan prime rate (LPR) was held at 3.7 per cent, the People’s Bank of China (PBOC) said on Friday The five-year LPR, which is the reference for mortgages, was cut from 4.6 per…
Will China’s Compromise on Foreign Audits Be Enough to Stop Stock Market Expulsions?
China has made a compromise in an effort to resolve a conflict between China’s national state secrecy laws and a U.S. law requiring foreign listed companies to comply with U.S. auditing standards. But …
China’s Stimulus Tops $5 Trillion as Covid Zero Batters Economy
China’s plans to bolster growth as Covid outbreaks and lockdowns crush activity will see a whopping $5.3 trillion pumped into its economy this year.Most Read from BloombergTarget and Walmart’s Deep Pa …
Chinese developer Sunac defaults as Beijing struggles to save the trillion-dollar sector
China’s third-largest developer, Sunac, is the latest to default on some of its bonds, despite a “relatively healthy” financial situation and a chairman who has previously been willing to repay …
BRICS bank issues 7-billion-yuan bond in China’s interbank bond market
SHANGHAI – BRICS New Development Bank (NDB) has issued an RMB-denominated bond of 7 billion yuan ($1.04 billion) in China’s interbank bond market with a maturity of three years, the bank said Thursday …
Beijing probes central banker for passing tips to bond traders
As part of broader scrutiny on the People’s Bank of China, monetary-policy chief Sun Guofeng is said to face suspicions of leaking economic data …
Why We Can’t Trust Bitcoin Mining Hash Rate Data From China
The changing proportion of Bitcoin network hash rate emanating from China can be explained by the inherent flaws in how this data is collected. China has “re-emerged” as a maj …
Beijing among least profitable Airbnb destinations, as owners would need a paying customer for 3,771 nights to break even, UK insurer says
So, landlords who are planning to buy any property in Beijing should be wary of getting into the Airbnb space at the moment if they want to earn their money back and make profits,” said…
Chinese Premier Li Keqiang voices support for tech listings as China-US audit deal remains in limbo
China will support online platform companies and digital economy enterprises to raise capital in domestic and overseas markets, Li says Plans by Chinese tech companies to go public in New York have …
DOJ accuses casino mogul Steve Wynn of lobbying on behalf of China
The DOJ is suing casino mogul Steve Wynn to compel him to register as a foreign agent for China, due to alleged lobbying he did during the Trump administration.
China’s tech industry growth loses steam as Tencent’s depressed earnings show impact of economic slowdown, analysts say
The internet giant’s shares fell 7 per cent in Hong Kong on Thursday to lead a broad-based rout of China tech stocks, a day after posting its lacklustre results The government’s recent signal to …
China targets party elites’ overseas assets
An internal Communist Party directive bars senior officials and their families from owning property abroad or stakes in overseas entities …
