China’s renminbi suffered one of its worst intraday falls on record on Tuesday before the central bank appeared to intervene to stabilise the market. The onshore renminbi fell 0.8 per cent against the US dollar…
FINANCE
China seeks to soothe markets as trade angst rattles stocks, yuan
SHANGHAI (Reuters) – China’s central bank moved to calm jittery financial markets on Tuesday after the yuan dropped through the psychologically significant 6.7 to the dollar mark, hitting its lowest in almost a year as…
China central bank seeks to reassure on renminbi weakness
China’s central bank is paying “intimate attention” to recent renminbi depreciation and will maintain its policy of letting market fundamentals guide the renminbi exchange rate, People’s Bank of China governor Yi Gang said on Tuesday.…
China central bank blames yuan moves on dollar rise, external uncertainty
SHANGHAI: China’s central bank chief on Tuesday blamed the yuan’s recent weakness on the US dollar’s strength and external uncertainties, as state-owned banks were seen trying to prop up the currency. “Recently, there have been…
China Bank’s Capital Almost Wiped Out as Loan Rules Tighten
A surge in bad loans has nearly wiped out the capital of a Chinese rural bank, according to a local ratings firm, raising fresh doubts about the financial health of the nation’s smaller lenders. Guiyang…
Beijing softens tone on debt crackdown as trade tensions threaten growth
Beijing has signalled a softer stance in its campaign to cut … The MPC is the highest monetary advisory body to the People’s Bank of China (PBOC), the country’s central bank. There was no briefing…
China leads drop in global stocks on trade tension
On Sunday, the Financial Times reported that the European Commission warned … to the US president’s threat to add tariffs on imported vehicles. Pressure on China’s bourses came alongside a further weakening in the renminbi,…
China Development Bank to sell bonds worth US$5.28 billion on connect programme anniversary
China Development Bank, a policy lender that supports state projects, said on Monday it will sell 35 billion yuan (US$5.28 billion) of debt that offshore investors can buy through the bond connect programme with Hong…
China’s central bank injects liquidity into market in June
BEIJING – China’s central bank said Monday it continued to pump cash into the money market in June to meet financial institutions’ demand for liquidity. The People’s Bank of China (PBOC) said 663 billion yuan…
China’s central bank drains 20b yuan from market
BEIJING – China’s central bank drained 20 billion yuan ($3 billion) from the financial system on Monday to ensure stable liquidity. The People’s Bank of China (PBOC) didn’t pump any money into the market through…
China’s central bank drains 20 bln yuan from market
BEIJING, July 2 (Xinhua) — China’s central bank drained 20 billion yuan (about 3 billion U.S. dollars) from the financial system on Monday to ensure stable liquidity. The People’s Bank of China (PBOC) didn’t pump…
China Development Bank to issue $5.3 bln bonds via ‘connect’ initiative
(ECNS) – China Development Bank (CDB), a major policy bank, is expected to issue 35 billion yuan ($5.29 billion) financial bonds to global investors on July 3 under a “bond connect” plan as the initiative…
Renminbi’s worst month ever sparks US-China currency war fears
The renminbi’s 1.9 per cent fall last week was its second-biggest weekly decline, trailing only mid-August 2015, when the People’s Bank of China shocked global markets by announcing a sudden policy change that unleased a…
