The People’s Bank of China, the country’s central bank, on Tuesday announced that it will carry out a 500-billion-yuan (about US$73.6 billion) outright reverse repo operation on Wednesday to maintain …
FINANCE
China’s central bank pledges timely policy tool adjustment
BEIJING, Aug 2 (Reuters) – China’s central bank pledged to adjust monetary policy tools in a timely manner and facilitate panda bond issuance, a statement showed on Sunday. The People’s Bank of China …
China completes first outbound digital yuan payment to Malaysia
China completed its first cross-border digital yuan payment to Malaysia for a durian shipment, settling in 30 minutes without SWIFT or …
Beijing greenlights Nvidia: Chinese tech giants clamor for H200 silicon
Nvidia (NASDAQ: NVDA) shares edged higher by 1% following a scoop from The Information detailing a major policy shift in Beijing. Reports state that Chinese regulators are finally preparing to lift …
China’s CIPS will become settlement norm in Mongolia within 2 years, Golomt Bank says
Six months after Golomt adopted the technology, 96 per cent of yuan payments moved from Swift to China’s payment system, the bank says China’s cross-border payment system is reshaping how Mongolian …
Is Agri Bank China (ACGBY) Outperforming Other Finance Stocks This Year?
For those looking to find strong Finance stocks, it is prudent to search for companies in the group that are outperforming their peers. Is Agri Bank China (ACGBY) one of those stocks right now? A…
China picks Standard Bank to process yuan payments in Kenya, other African countries
China has approved Standard Bank Group and the Industrial and Commercial Bank of China (ICBC) to operate Africa’s first Renminbi (RMB) clearing hub, a move expected to make trade and payments between …
China sets overnight reverse repo rate steady at 1.25%, sources say
China’s central bank conducted an overnight reverse repo operation on Wednesday by setting the borrowing cost at 1.25%, unchanged from the previous such operation in late June, people with …
ASML Stock Keeps Sliding On China’s Latest Chip Advance — Why BofA Calls Selloff An ‘Overreaction’ And Sees Over 70% Upside
The brokerage says China’s progress in DUV lithography poses only a limited financial risk and sees the recent selloff as a buying opportunity.
China’s New Phase of Financial Statecraft and RMB Internationalisation
China’s latest push to internationalize the renminbi is driven less by ambitions to challenge the U.S. dollar’s global dominance than by efforts to build a more resilient financial system that reduces …
China targets offshore trusts with new tax rules
Personal income tax will be charged on gains in asset values – such as shares and real estate – when these assets are first placed into offshore trusts.
China’s state banks set to profit from early CXMT equity bets amid national tech drive
CCB holds the largest CXMT stake among the five banks at 1.714 per cent while BoC owns the smallest position at 0.38 per cent In line with Beijing’s goal of tech self sufficiency, Chinese investors…
Africa’s largest bank helps China reshape cross-border payments with $1.2 billion in transactions
Standard Bank, Africa’s largest bank by assets, has processed more than CNY8 billion ($1.2 billion) through China’s Cross-Border Interbank Payment System (CIPS), highlighting the growing role of the …
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