The expected growth would be the weakest since a steep 6.9% slump in the first quarter of 2020, when an outbreak of COVID-19 in the central city of Wuhan, first detected in late 2019, turned…
Tagged By banking
For China’s Anxious Middle Class, Saving Is the New Spending
Months of lockdowns have left many consumers feeling financially insecure — and trying to drastically cut their household budgets. The trend may be difficult to reverse.
China’s Central Bank to Step Up Support to Consolidate Economic Recovery
The People’s Bank of China will continue to lower real lending rates and financing costs for market players in a bid to revive the slowing economy, a central bank official said.
China to Step up Policy Support for Real Economy, Central Bank Says
Headquarters of the People’s Bank of China (PBOC), the central bank, is pictured in Beijing, China September 28, 2018. REUTERS/Jason Lee/File Photo Reuters BEIJING (Reuters) -China will step up policy …
China will reduce number of high-risk financial institutions: Central bank
BEIJING: China will replenish the capital for smaller banks and reduce the number of high-risk financial institutions, Sun Tianqi, an official at the central bank, said on Wednesday (Jul 13).
China growth slumps on virus lockdowns, real estate woes: poll
Leaders of the world’s second-biggest economy remain firmly wedded to a zero-COVID approach of stamping out clusters as they emerge, but the fallout has sapped growth and is pushing policymakers’ …
China Attacks Protestors Trying to Get Money Out of Frozen Bank Accounts
Protestors gathered at a major bank in China on Sunday, looking to reclaim government-frozen personal funds — only to face brutality by security forces.
China’s Banking Regulator Promises to Compensate Depositors After Violent Protests
At least four banks in Henan province froze client accounts, provoking arrests and violent unrest from worried citizens.
U.S. Treasury diplomat nominee aims to curb China’s lending influence
The nominee for the U.S. Treasury’s top economic diplomacy job said on Tuesday he wants to limit China’s growing global lending influence by working with international financial institutions and …
China – Upswings And Implications
The negative differential between government bond yields in China and the U.S. narrowed a bit lately and can decline further if the current growth trends persist. Low inflation in China helped to keep …
Researchers just gave developing nations a scientific basis for legal action against US, China for climate damages
A new study shows the US and China — the two biggest contributors to the climate crisis — individually caused global economic losses of more than $1.8 trillion each between 1990 and 2014.
China’s Henan bank customers face harassment, job loss over protests
While it is unclear whether the Henan bank troubles have wider ramifications, China’s thousands of small and midsized lenders are crucial to the domestic financial sector …
Bank customers demanding their money back staged China’s largest protest in years. The violent episode is the ‘tip of the iceberg’ of China’s looming banking crisis
A crackdown on bloated developers like Evergrande is likely to trickle down to local banks and customers who want to protect their life savings.