The People’s Bank of China kept its one- and five-year loan prime rates unchanged at 3.35% and 3.85%, respectively, on Friday, as expected, to help the economy recover. Both rates remain at record …
FINANCE
China’s Banks Maintain Key Lending Rates as PBOC Stays on Pause
Chinese banks maintained their benchmark lending rates for September, as policymakers hold off on further monetary stimulus while financial institutions struggle with record-low profit margins.
China unexpectedly leaves benchmark lending rates unchanged after Fed’s jumbo cut
The People’s Bank of China (PBOC) said it would keep the one-year loan prime rate (LPR) at 3.35%, as well as the five-year LPR at 3.85%.
China local finance chief’s killing sparks shock and speculation
HONG KONG — The killing of a key financial official in the central Chinese province of Hunan has triggered a flurry of speculation in the country’s media and online platforms.
Morning Bid: Central bank baton passes to Japan, China
A look at the day ahead in Asian markets. A bumper week of central bank meetings that included the U.S. Federal Reserve on Wednesday and the Bank of England on Thursday rounds off on Friday…
China court orders developer SRE to sell majority stake in Shanghai venture to repay loans
The action comes after units of SRE failed to pay 4.45 billion yuan (US$627 million) in debts, the company said in a Hong Kong filing.
Mercedes Cuts Earnings Outlook as Auto Sales in China Falter
Mercedes-Benz Group AG cuts its financial forecast for the year as the luxury-car maker cited a rapid deterioration of its business in China.
Tech moguls predict further advances in AI
Mark Zuckerberg, CEO of Facebook Inc, told an audience at the China Development Forum in Beijing on Saturday that he predicted more great advances for AI within the next decade. Different forms of …
The dramatic decline of China’s innovative start-ups
To be sure, China has made impressive progress up the technology ladder. As recently as 20 years ago, it was at best a mid-technology power. By 2023, according to ASPI, an Australian think-tank, China …
Xi Unleashes a Crisis for Millions of China’s Best-Paid Workers
China created a professional class in record time. Now, just as swiftly, many of their dreams are being crushed.
China to ramp up policy steps to revive economy but no ‘bazooka’ stimulus seen
Chinese policymakers will likely step up measures to at least help the economy meet an increasingly challenging growth target for 2024, analysts and policy advisers say, with a sharper focus on …
Beijing E-Town Completes the City’s First Negative List Filing for Cross-Border Data Transfers
BEIJING, CHINA / ACCESSWIRE / September 19, 2024 / The 2024 China International Fair for Trade in Services is currently underway in Beijing. On September 13, (Beijing E-Town, or BDA) announced that …
China Halts Tariff Exemptions on Taiwanese Agricultural Products
China is set to suspend tariff exemptions on 34 agricultural items from Taiwan, effective September 25. This decision includes fresh fruits, vegetables, and aquatic products. The Chinese finance …
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