China’s largest banks cut interest rates for savers on Thursday in a bid to boost growth in an economy where consumption has been slow to recover.
FINANCE
Global banking crisis has had little impact on China – China financial regulator
The recent global banking crisis has had little impact on China but offers a cautionary tale, Li Yunze, head of China’s national financial regulatory administration, told delegates at the Lujiazui …
China’s major State-owned banks adjust deposit rates
China’s major State-owned banks have made adjustments to their renminbi deposit interest rates, as reported by Securities Times on Thursday. Starting today, these banks – including Industrial and …
China’s new financial gatekeeper Li Yunze strikes an optimistic note, vowing to wipe out ‘blind spots’ to protect economy from risks
There is “no change in China’s role as the main driver of global growth,” said Li Yunze, head of the National Financial Regulatory Administration (NFRA) in Lujiazui The regulator will spur banks to …
China’s biggest state banks cut interest rates on yuan deposits
China’s biggest banks on Thursday said they have lowered their interest rates on yuan deposits, action that could ease pressure on profit margins and make room for reduced lending costs. Industrial …
China Financial Watchdog Vows to Further Open Up, Control Risks
China will continue to open up its $60 trillion financial market to foreign institutions, while sticking to the bottom line of preventing systemic risks, the nation’s new top regulator said.
China to open finance markets as investors grow nervous
“The overall risk in China’s finance industry is controllable, and we’re fully confident and able to safeguard the bottom line of preventing systemic risks,” Mr Li said at the forum. While recent …
UPDATE 1-China’s forex reserves dip, but Beijing keeps buying gold
China’s foreign exchange reserves fell only slightly in May despite a sharp drop in the yuan currency which many analysts had feared would trigger further capital outflows from the country’s stock and …
China stretched its gold-buying spree into the 7th straight month in May, signaling more central bank de-dollarization
China continued to amass gold, adding an additional 16 tons in May, while its foreign currency reserves fell, Bloomberg reported.
China big state banks to cut deposit rate from Thursday -state media
Several Chinese major state banks will lower the yuan deposit rates from Thursday, state media Securities Times reported, a move that could give more room for lower lending costs in an effort to boost …
U.S. stock futures grind lower after more weak China data
U.S. stock futures pointed to a grinding session ahead for investors as fresh data showed more difficulties for China’s economy.
China’s Guangxi Proposes New Rules to Regulate Gov’t Investments, Sets Debt-to-GDP Red Line at 300%
Local authorities in the southwestern region with a debt-to-GDP ratio exceeding the line or with debt risk events are not allowed to start any new government-funded projects in the next year, …
China Rate-Cut Expectations Grow as Signs of Weak Recovery Mount
China’s economic recovery showed further signs of weakening in May, clouding the outlook for the rest of the year and fueling calls for more central bank stimulus.
