China set the yuan’s daily reference rate at a level that was below market estimates by a record margin, in the latest sign of policymakers’ intention to slow the currency’s appreciation.
Tagged By banking
China cracks down on financial dark- and gray- criminal networks involving 30 billion yuan
China’s Ministry of Public Security (MPS) on Thursday announced the results of a large-scale crackdown on dark- and gray- criminal networks in the financial sector involving a total of nearly 30 …
China’s central bank signals steady, cautious support for growth
The statement didn’t mention a reduction in interest rates or to the reserve requirement ratio, which determines how much cash banks must keep in reserves, while the PBOC pledged to make use of …
China’s Yuan Climbs Past 7 Per Dollar as PBOC Caves in to Bulls
The yuan climbed past the psychological milestone of 7 per dollar for the first time since September 2024, on bets China’s central bank will allow gradual currency appreciation to boost market …
China to boost financial support for new western land-sea corridor
China has rolled out a guideline to strengthen financial support for a new western land-sea corridor, pledging to focus on corridor infrastructure development and facilitate cross-border investment, …
Beijing Xunzhong expands bank account freezes amid ongoing litigation
Beijing Xunzhong Communication Technology Co., Ltd. Class H ( ($HK:2597) ) has issued an update. Beijing Xunzhong Communication Technology has …
Exclusive: China’s Zheshang Bank Nominates Former Regulator as President
China Zheshang Bank Co. Ltd. (601916.SH) has nominated former financial regulator Lü Linhua as president, Caixin has learned from people familiar with the matter.
China Jails Former Zhongzhi Executives in Landmark Shadow Banking Ruling
A Beijing court on Tuesday sentenced former Zhongzhi Enterprise Group Chairman Gao Xingshan and other executives to prison terms of up to 14 years, marking a major judicial milestone in the collapse …
Former Zhongzhi Enterprise Group Chairman Sentenced in Major Shadow Banking Case
A court in Beijing sentenced former Zhongzhi Enterprise Group chairman Gao and others to prison for illegal public deposits. In facing up to 14 years in jail, their actions breached national financial …
Beijing court jails Zhongzhi Enterprise’s former chairman for illegally taking public funds
A court in Beijing has sentenced a former chairman of Zhongzhi Enterprise Group and several others to prison terms ranging from four-and-a-half to 14 years for illegally taking public deposits, …
China to hide bad debt records for pandemic-hit borrowers who repay small loans
New policy by the People’s Bank of China applies to one-off debts up to 10,000 yuan incurred since 2020, aiming to help people rebuild credit.
China Financial Services Unit Grants RMB29.98 Million High-Yield Loan in Discloseable Deal
China Financial Services Holdings Limited ( ($HK:0605) ) has shared an announcement. China Financial Services Holdings Limited has disclosed that …
China to Scrub Small Overdue Debts From Credit Records to Help Spur Lending
BEIJING, Dec 22 (Reuters) – China’s central bank on Monday unveiled a one-off credit repair scheme to allow overdue personal debts of up to 10,000 yuan ($1,420.47) incurred since 2020 to be …
