China’s plan for an historic opening of its financial sector came into sharper focus as the nation’s top central banker elaborated on pledges from President Xi Jinping that have buoyed global markets and eased trade…
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China to open its doors to foreign banks
China’s new central bank governor Yi Gang announced the move on Wednesday, confirming Beijing is serious about moving swiftly on President Xi Jinping’s commitment a day earlier to open up the country to more foreign…
China, HK stocks climb as Beijing pledges to further open financial sector
China will allow foreign investors to enter its trust, financial leasing, auto finance and consumer finance sectors by the end of this year, the country’s central bank said on Wednesday. China also will raise foreign…
China central bank governor says market-determined exchange rate is working very well
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.…
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…
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…
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…
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…
Hashtag Trending – Paypal going after traditional banks, Facebook’s continued problems, China’s dystopian ranking system
PayPal is moving closer to “mainstream banking”, Facebook suspends another data analytics firm for using tactics like Cambridge Analytica, and China is testing a social credit ranking system straight out of a Black Mirror episode.…
UPDATE 2-China’s Ant Financial aims for $9 bln in new funding – WSJ
April 10 (Reuters) – Chinese billionaire Jack Ma’s online payments business Ant Financial now plans to raise $9 billion in its next planned round of funding, potentially valuing the company at $150 billion ahead of…
