BEIJING China’s central bank on Wednesday rejected a media report that the yuan had weakened beyond the 7.0000 per dollar level in the onshore market on Dec. 28, calling the report “irresponsible”. The yuan traded…
Tagged By banking
China’s Currency Drops But Pressure Still Builds
What was notable about China’s currency in 2016 wasn’t that it had its worst … taking the currency on a round trip to levels last seen before the global financial crisis. But in the grand…
China Authorities Propose Tighter Rules on How Insurers Invest in Stock Market
Chinese authorities are proposing tighter rules governing how insurers invest in the stock market, in an effort to keep check on practices they believe put the country’s broader financial system at risk. Proposals released by…
China's cash-strapped LeEco in talks to gain $1.4 billion from investor
SHANGHAI/HONG KONG China’s cash-strapped LeEco said it is in talks to secure … but the announcement was seen as insufficient to dispel concern over the high-tech conglomerate’s financial health. Led by tycoon Jia Yueting, LeEco…
Platts China Oil Analytics – China Apparent Oil Demand Inched up 1% Year over Year in October
China’s apparent oil demand in October 2016 edged up by 1.1% from the same month last year to 11.12 million barrels per day (b/d), according to an analysis of Chinese government data by S&P Global…
Is China’s growing debt burden a crisis in the making?
(tmsnrt.rs/2hMAvzX) The story begins in 2009, when China launched a $600 billion economic stimulus program during the global financial crisis. It unleashed a wave of borrowing by state firms that is proving to be a…
China Hushen 300 index futures close higher Thursday
The index futures was launched at the China Financial Futures Exchange (CFFEX) and started trading from April 16, 2010. The CFFEX has set the base value for all the contracts at 3,399 points. (This article…
Central bank adviser says China needs property tax: report
BEIJING China needs a real estate tax to control rising property prices and narrow the gap between rich and poor, Fan Gang, a member of the central bank monetary policy committee, was quoted as saying.…
China's cabinet names Harvard graduate as central bank vice governor
BEIJING China appointed Yin Yong, a Harvard-educated official, on Tuesday as a vice governor of the People’s Bank of China, replacing Guo Qingping. The State Council announced the promotion of Yin, who has been an…
China bank calls guarantee documents ‘fake’
The fate of a defaulted $45-million (U.S.) Chinese corporate bond sold through an Alibaba-backed online wealth management platform was thrown into doubt on Monday, after a bank said letters of guarantee for the bonds were…
China bank calls documents "fake" after bond default on Alibaba-linked platform
BEIJING The fate of a defaulted $45 million Chinese corporate bond sold through an Alibaba-backed online wealth management platform was thrown into doubt on Monday, after a bank said letters of guarantee for the bonds…
Man caught trying to loot bank with excavator in southern China
A young man has been arrested in southern China after he failed to rob a bank before dawn using his own excavator, mainland media reports. The man, surnamed Luo, drove the digger to a branch…
China banking sector's total assets up 16.3 pct y/y at end-Nov
BEIJING Dec 26 The value of total assets held by China’s banking sector rose 16.3 percent to 222.25 trillion yuan ($31.98 trillion) as of end-November, compared with the same period a year earlier, the China…
