BOAO, China (Reuters) – People’s Bank of China Governor Yi Gang said on Wednesday the country’s exchange rate mechanism had been working well and that it hadn’t intervened in currency markets for a long time.…
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China central bank governor says market-determined exchange rate is working very well
China speeds up reforms opening finance sector to foreign ownership
Beijing has sped up the pace of ownership reforms for China’s banking, securities, futures, asset management and insurance sectors, shifting the timeline for implementation from years to just months after President Xi Jinping this week…
It Built an Empire of GIFs, Buzzy News and Jokes. China Isn’t Amused.
BEIJING — A Chinese start-up that appears to have mastered the art of keeping people glued to their smartphones also has a knack for something else: drawing the ire of China’s censors. The country’s top…
China to peer inside its shadow banking world via a new database
Beijing will establish a data bank in support of its campaign to clean up its unruly shadow banking system and control financial risk as it continues to learn from the lessons of the stock market…
Top China news app self-criticises after government crackdown
One of China’s most popular news apps issued an abject apology Wednesday and pledged to increase its internal censorship staff to 10,000 after it and three other apps were temporarily banned by the government in…
China pledges to allow more foreign investment in financial sector by year-end
BOAO, China (Reuters) – China laid out a clearer timetable on Wednesday for opening its financial sector to more foreign investment by the end of 2018, as Beijing looks to fend off growing criticism from…
The Future of Retail is Happening Right Now in China
For nearly 19 years, it has built the backbone of China’s giant e-commerce machine, essentially creating a “move-in” environment for brands, as well as an engaging discovery and frictionless purchase process for shoppers. As a…
How to command price premium in China
In China market today, “consumption upgrading” is a buzzword … it might be better quality, quicker delivery, better brands, smarter functions, or a combination of various factors. Behind this change is the fact that more…
China to allow more foreign investment in financial sector this year: PBOC
BOAO, China (Reuters) – China will allow domestic and foreign financial firms to compete on an equal footing and “sharply” expand the business scope for foreign banks, central bank governor Yi Gang said on Wednesday.…
How China became a global leader in green finance
A concerted approach to sustainable development has been gaining traction in China over the past three years and increasingly, countries in the West are looking to Beijing for cues on green investment. At the bilateral…
China’s central bank says it will skip OMOs on Wednesday
SHANGHAI (Reuters) – China’s central bank said it will skip open market operations on Wednesday as liquidity levels in the banking system were “relatively high”. On a net basis, the People’s Bank of China (PBOC)…
China central bank governor says will continue to carry out prudent monetary policy
BOAO, China (Reuters) – China will continue to carry out prudent monetary policy, central bank governor Yi Gang said on Wednesday. Yi, speaking at the Boao Forum for Asia in southern Hainan province, said interest…
Tech firms take the IPO limelight
Walter Zhang, PwC China Assurance Partner, said: “Chinese TMT IPOs maintained strong momentum over the year, with the total proceeds doubling year-on-year. The number of TMT IPOs also grew by 50 percent from 2016.” However,…
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