BEIJING (Reuters) – China’s central bank unveiled a key interest rate reform on Saturday to help steer borrowing costs lower for companies and support a slowing economy that has been hurt by a … (…
FINANCE
Vanguard Bank Tensions Show That China Remains Undeterred
The Vanguard Bank basin is the westernmost reef of the … to use coercion instead of following international law. Beijing has always contested the UNCLOS interpretation used by Vietnam and … ( read original story…
China’s Digital Fiat Wants to Compete With Bitcoin – But It’s Not a Crypto
A review of over 50 patent applications submitted by the People’s Bank of China shows the design of its central bank digital currency will only resemble a cryptocurrency in limited ways. A senior … (…
From the hutong to high politics: a Beijing driver’s journey
When Liu Chaowei started working as the Financial Times’ Beijing bureau driver in 1995, only a year after the bureau was founded, there was not much financial news to be written about. This was China…
Markets tank as China promises ‘counter measures’ in trade war
China’s Ministry of Finance said in a statement on Thursday morning that fresh 10% tariffs on $300bn of Chinese goods “seriously violated the consensus” between the US and China reached at … ( read original…
China fixes its daily yuan midpoint at 7.0312 — stronger than expected
China’s central bank set the official midpoint reference for the yuan at 7.0312 per dollar on Wednesday. Analysts were predicting the midpoint to be set at 7.0502 per dollar, according to Reuters … ( read…
China central bank official says yuan at right level, disorderly capital flows unlikely
BEIJING (Reuters) – China’s yuan is at an appropriate level currently and two-way fluctuations in the currency will not necessarily cause disorderly capital flows, a senior official at the People’s … ( read original story…
Bank of Mexico lowers interest rate, citing global concerns
MEXICO CITY – Mexico’s central bank said Thursday it was lowering its benchmark interest rate by a quarter-point to 8%, citing slowing global economic activity and tensions including the trade war … ( read original…
Petrobras Repays Billions In China Debt Before Term
Petrobras has settled a debt of US$3 billion with the China Development Bank ahead of time and will repay another debt, this one of US$5 billion, in December, ending an agreement for the … (…
Exclusive: China curbs gold imports as trade war heats up
“There are virtually no import quotas now issued in China,” one source said. In June and July “next to nothing” was imported by banks, they said. The Chinese central bank did not respond … (…
Beijing starts military exercise in disputed South China Sea as tensions with Vietnam rise
Tensions in the South China Sea re-emerged last month, with a week-long confrontation between Chinese and Vietnamese coastguard vessels around the energy-rich Vanguard Bank, after Chinese survey ship … ( read original story …)
China curbs gold imports as trade war heats up
The bulk of China’s imports – coming from places such as Switzerland, Australia and South Africa and usually paid for in dollars – are conducted by a group of local and international banks given ……
Vanguard Bank is a clear example of Beijing’s South China Sea strategies in action
China is trying to manipulate international dispute resolution mechanisms to sew confusion and further its economic interests in the South China Sea. Its diplomatic and military activities are pushing … ( read original story …)
