Russian banks are reportedly adding massive amounts of Chinese yuan to their clients’ accounts as Western sanctions limit access to the dollar and euro. In a survey by Russian financial daily …
FINANCE
China to continue promoting financial cooperation among BRICS countries
BEIJING, April 8 (Xinhua) — China will continue promoting fiscal and financial cooperation among BRICS countries, according to Minister of Finance Liu Kun. Liu made the remarks at the First BRICS …
New COVID lockdowns in China freshen supply chain pressures
New COVID lockdowns in China have disrupted the world’s second-largest economy. Why it matters: With Chinese commerce, shipping, transportation and manufacturing hobbled, global consumers could feel …
China’s yuan is replacing the dollar and euro in Russian bank accounts amid Western sanctions, report says
Russian banks are seeing a sharp uptick in business clients opening accounts with China’s yuan instead of dollars or euros, a March survey found.
BUZZ-COMMENT-Could China cut rates and weaken the yuan too?
Yet with economists seeing limited room for rate cuts, policymakers may become convinced that a weaker yuan is needed to augment exports and bolster the economic recovery. Nomura also point out that …
CGTN: Success of Beijing Winter Olympics, Paralympics injects energy to global unity, cooperation
After seven years of efforts, China successfully held the Beijing 2022 Winter Olympics and Paralympics in February and March, sending out a message of unity, cooperation and hope to the world during …
Economic Watch: China to leverage agile monetary policies to bolster real economy
China has announced that it is making nimble use of monetary policy tools to shore up the real economy amid growing domestic and external uncertainties. A State Council executive meeting on Wednesday …
Bearish Signals Flash at China Giants After Recovery
The recent recovery of Chinese technology stocks hasn’t just lured bargain hunters. Short sellers are piling in, too. Most Read from BloombergCanada to Ban Foreigners From Buying Homes as Prices …
Foreigners cut China bond holdings in March as yield gap shrank
Foreign investors cut their holdings of Chinese sovereign debt in March, official data showed on Friday, as the worsening conflict in Ukraine prompted a global flight to safety, and as yield premiums …
China round-up: Beijing drafts financial stability law
China will use monetary policy tools to increase support to the real economy, according to a State Council meeting held on Wednesday. The meeting, chaired by premier Li Keqiang, also proposed measures …
China central bank conducts reverse repos to maintain liquidity
China’s central bank on Friday conducted 10 billion yuan (1.57 billion U.S. dollars) of reverse repos to maintain liquidity in the banking system. The interest rate for the seven-day reverse repos was …
China’s Shanghai seeks medical care amidst worst COVID-19 outbreak
China’s financial hub, Shanghai, has been facing the worst COVID-19 outbreak and has been desperately seeking medical care and basic supplies like food. Shanghai authorities have imposed draconian …
Law to improve financial stability
China’s new draft law on financial stability has proposed a comprehensive framework of financial risk prevention that will help navigate the world’s second-largest economy through the rising economic …
