China’s central bank set the yuan’s daily midpoint fixing at the highest level in over a month on Thursday, while its value against a basket of currencies recovered. The People’s Bank of China (PBOC) …
FINANCE
China Stocks Set for 10-Month Low as Economic Pessimism Persists
Chinese stocks are extending their poor run, with a key gauge heading for its lowest level since November as a foreign selloff worsens amid persistent concerns about the economy.
China’s Asian Infrastructure Investment Bank opens first overseas office in Abu Dhabi
The China-backed Asian Infrastructure Investment Bank (AIIB) has set up its first overseas office at the Abu Dhabi Global Market (ADGM).
Starving zoo animals and cucumber fines. China’s indebted cities are desperate for cash
The Endangered Species Fund called for volunteers to donate food to hungry animals kept at a zoo inside Dongshan Park in the northern province of Liaoning. The zoo is run by the local government, …
China hits back at economic fatalists during gathering of policy heavyweights
During a briefing on the state of China’s economy, officials from multiple government departments presented a united front against criticism of the country’s recent showing.
Starbucks: Why Howard Schultz’s departure could ‘open the door’ for expansion in China
[that] they felt they didn’t need need to have a partnership any longer,” Georgetown professor Arthur Dong told Yahoo Finance. Starbucks has continued to invest in China and research the demand for …
China’s finance ministry issues 5b yuan of treasury bonds in Macao
MACAO — China’s Ministry of Finance on Wednesday issued 5 billion yuan (about $700 million) of yuan-denominated bond in the Macao Special Administrative Region (SAR). The bonds are offered to …
China Ex-PBOC Head Calls for Policy Boost to Hit 5% Growth Goal
(Bloomberg) — China’s economy is still in the “recovery stage” and the nation will need to “appropriately” ramp up support to achieve the government’s growth target of around 5% this year, the former …
Xinhua Silk Road: Guilin Bank steps up efforts to support China-ASEAN cross-border financial cooperation
Guilin Bank, a local bank situated in south China’s Guangxi Zhuang Autonomous Region, has been actively taking a slew of measures to push forward China-ASEAN cross-border financial cooperation, as …
China has ample policy space to handle challenges: central bank
BEIJING – China still has sufficient policy space to deal with greater-than-expected challenges and changes, a senior official of the People’s Bank of China (PBOC), the country’s central bank, said …
Some finance execs in China are spending nearly a third of their working time studying ‘Xi Thought,’ report says
Staff at global banking firms in China are taking part in ideological “study sessions.”
Asian Development Bank trims growth forecast for region, dampened by Chinese property sector weakness
The Asian Development Bank trimmed its 2023 growth forecast for the region to 4.7% on the back of China’s embattled property sector.
China’s central bank says it has ‘ample’ room for further stimulus
The PBOC has added to expectations there could be more easing to come, including interest rate cuts, after this month’s pause.
