Bank of China and the Agricultural Bank of China have cut interest rates on some deposits from Friday, according to the banks’ websites.Rates for 1-year and 2-year time deposits were cut by 10 basis …
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China and Russia have almost completely abandoned the US dollar in bilateral trade as the push to de-dollarize intensifies
China and Russia have more than 90% de-dollarized their bilateral trade, according to Russia’s prime minister.
US, China top military officials speak for first time in over a year
The top U.S. military officer held a virtual meeting with his Chinese counterpart on Thursday, the Pentagon said, in the first such conversation in over a year amid hopes by U.S. officials that it …
China’s Agricultural Bank cuts interest rates on some deposits from Dec 22
The Agricultural Bank of China has cut interest rates on some deposits from Friday, its website showed. Some Chinese major commercial banks will cut time deposit rates on Friday, three sources with …
China will maintain ‘reasonably abundant liquidity’ to bolster economic recovery: central bank
CFP. China will maintain “reasonably abundant liquidity,” to create a favorable monetary and financial environment for the sustained improvement of …
China boy hands in bag containing US$22,000 to police despite dire family situation with sick father in hospital, believing owner may need money
A boy in China was praised by the police and his school after he returned a bag filled with US$22,000 he found on the street.
China’s Mega Banks Cut Deposit Rates Further to Boost Growth
China’s biggest state-owned banks are launching a third round of deposit rate cuts in a year, as lenders work to maintain profitability amid shrinking margins and government policies aimed at boosting …
China digital currency: Bank of China completes cross-border settlement for precious metals trading using e-CNY
China has been expanding the use of its sovereign digital currency in cross-border businesses, with the Bank of China completing the first cross-border settlement for precious metals trading.
China’s major banks to cut time deposit rates on Friday – sources
Some major Chinese commercial banks will cut time deposit rates on Friday, three sources with knowledge of the matter said, providing room to reduce lending costs amid a faltering economy. Rates for 1 …
Top US retirement funds trigger national security fears after sinking $68B into China market over last 3 years
American public pensions have invested more than $68 billion in China – the US’ No. 1 adversary – and finance experts are ringing the alarm on how that jeopardizes national …
China’s renminbi pips Japanese yen to rank fourth in global payments
Figures released on Wednesday by international payments platform Swift showed the renminbi’s share of global payments had climbed to 4.6 per cent in November, up from 3.6 per cent a month before. It …
Chinese stocks remain unloved among global funds amid concerns about banking crisis, property market risks: BofA surveys
Investors still view Chinese stocks as too risky to dive into after a record streak of losses on the mainland and Hong Kong bourses. Concerns about a banking crisis have emerged, compounding the …
China is world’s second-largest economy but its passport is ranked 63rd. Are things looking up?
Zhou, the bank executive, sees the “Sin-Ma-Thai” visa waivers as a nod to China’s development over the past few decades, including how the quality of its tourists have also improved. In the early …
