China’s central bank said on Thursday it had scrapped the upper and lower limits on banks’ credit card interest rates because the time was “ripe” to do so and it would help the lenders develop…
Tagged By banking
China’s Digital Yuan Reported To Be Ultimate Financial Censorship Tool
In a new report released yesterday by the Center for a New American Security, evidence of a 2018 PowerPoint presentation in China indicates what many may already have suspected – central bank digital … (…
China central bank policymaker says fintech needs regulation just like banks
Pan Gongsheng, deputy governor of the People’s Bank of China, said in a Financial Times op-ed fintech companies need to be regulated as financial institutions. ( read original story …)
China Is Crushing Leveraged Traders With Liquidity Withdrawals
China’s central bank is winning the battle against leverage, yanking billions of funds from the financial system and crushing a popular trade in the bond market. ( read original story …)
UPDATE 1-China 2020 fiscal spending up 2.8% y/y, revenue falls 3.9%
China’s fiscal revenue fell 3.9% in 2020 from a year earlier, while expenditure rose 2.8%, the finance ministry said on Thursday, underscoring the difficulties in government finances amid the COVID-19 … ( read original story…
Central bank digital cash could come to 20% of the world in three years – BIS
Central banks representing one-fifth of the world’s population are likely to issue their own digital currencies in the next three years, a survey by central bank umbrella group the Bank for … ( read original…
China Crushes a Highly Lucrative Bond Trade in Just 30 Days
China’s bond traders could buy sovereign debt with borrowed cash and net the best returns in almost seven years. Now they’re making next to nothing. ( read original story …)
China’s Crackdown Will Shake Up World’s Largest Fintech Market
In a four-year campaign to root out risks to China’s financial system, regulators have set upon their biggest target yet: the world’s largest financial technology sector. ( read original story …)
New pro-Beijing political party signals China’s future plans for HK
HONG KONG • As China moves to neutralise Hong Kong’s pro-democracy opposition, it is also giving the green light to a new political party that provides a window into how Beijing may change the ……
China’s Accelerated Recovery Key to Global Growth
Unlike other major economies, China has rebounded and its recovery is accelerating. It could fuel a third of global economic growth in 2021. With the Spring … ( read original story …)
China’s banking, insurance sectors to strengthen support for real economy
China banking and insurance sectors will ramp up support for the real economy and unveil measures to prevent financial risks in 202 … ( read original story …)
Hong Kong grills finance executives on reasons for leaving
Fund managers and bankers leaving Hong Kong for alternative financial centres have been asked to explain their decision to a range of government agencies amid … ( read original story …)
UPDATE 1-China to step up supervision of financial activities on internet platforms
China’s banking and insurance regulator on Wednesday said it would strengthen supervision over financial activities by banks and insurers with internet platforms, the latest attempt to rein in China’s … ( read original story …)
