Huarong Asset Management Co has been in full crisis mode ever since it delayed its 2020 earnings results, eroding investor confidence. Executives have come to expect to be summoned by government …
FINANCE
Central Bank Nerves, China Dodges Russia, Biden Battle: Eco Day
Welcome to Monday, Asia. Here’s the latest news and analysis from Bloomberg Economics to help you start the week.With the world barely through this crisis, central bankers are already wondering if a …
Inside the Race to Avert Disaster at China’s Biggest ‘Bad Bank’
Huarong Asset Management poses a crucial test of China’s financial system. It was past 9 p.m. on Financial Street in Beijing by the time the figure inside Huarong Tower there picked up an inkbrush and…
China’s central bank says it has no plans to ease exchange rate controls
Managed system is ‘an institutional arrangement fit for China at present and in the foreseeable future’, PBOC deputy governor says.
Digital yuan not designed to displace US dollar, says former head of China’s Central Bank
That’s according to the former head of the People’s Bank of China, Zhou Xiaochuan, who also said that the digital yuan should not be closely linked to the yuan’s internationalization, which depends …
Bubble Risks Test China’s Commitment to No Sharp Turn in Policy
The rapid gains are challenging the central bank’s ability to restrain inflation without hiking borrowing costs or making a sharp turn in monetary policy — something the People’s Bank of China has …
Yuan fluctuations in either direction to become norm – China central bank deputy governor
Fluctuations in either direction will become the norm for China’s currency, the deputy governor of the country’s central bank said on Sunday, with …
Digital Yuan Won’t Replace Dollar, Ex-Bank of China Chief Says
China has never aimed to challenge the U.S. dollar’s status as the international reserve currency with the development of a digital yuan, Xiaochuan Zhou, former governor of the People’s Bank of China, …
China’s crackdown on bitcoin mining, trading extend its losses
Bitcoin extended its losses after China vowed to crack down on the cryptocurrency’s mining and trading activities in an effort to prevent financial risks at a meeting chaired by Vice Premier Liu He on …
China should let yuan rise to offset imported price rises, central bank official says
Chinese policymakers have pledged to take measures to cool red hot commodity prices and prevent them being passed on to consumers …
China Will More Than Double Millionaires by 2025, HSBC Says
China will more than double the number of millionaires in the next five years and boost the size of the middle class by almost half, spurring consumption in the economy, according to HSBC Holdings Plc…
Bitcoin and other cryptocurrencies can still be bought in China after Beijing’s latest crackdown
Chinese individuals could still buy bitcoin and other cryptocurrencies and trade them on overseas exchanges on Thursday.
China’s push for the digital yuan brings with it uncertainties, says BNP Paribas
China’s central bank has been working on the digital yuan which aims to replace some of its cash in circulation.
