China’s major state-owned banks were seen selling dollars in the offshore spot foreign exchange market on Tuesday, four sources with knowledge of the matter said, suggesting authorities’ wanted to …
Tagged By banking
China Extends Fight Against Weak Yuan as Drops Unsettle PBOC
China took a further step to slow the slide in the yuan, setting its daily reference rate for the managed currency at a stronger-than-expected level for a second day. The People’s Bank of China …
China on course to achieve 5% economic growth target in 2023: premier
China is on course to achieve its five percent target for economic growth in 2023 set by Beijing earlier this year, premier Li Qiang said Tuesday. “For the whole year, we are expected to achieve…
China bans ‘negative’ finance writers as stock market sinks
The move is likely to increase concern among foreign investors about access to independent information. Read more at straitstimes.com.
PBOC Has Little Incentive to Intervene as Chinese Yuan Slides Due to Wide China-US Interest Rate Spread, Analysts Say
The People’s Bank of China has not moved to halt the recent weakening of the Chinese yuan against the US dollar. The big spread in China-US interest rates is one of the main reasons behind…
China home sales require more easing to escape ‘current malaise’, analysts say
Among 13 cities selected by China Index Academy, one of the country’s largest independent real estate researchers, home sales by gross floor area rose 18.5 per cent in June compared to the previous …
What If China Can’t ‘Lend’ the World a Hand?
As the market is close to new highs, the U.S. economy is going through a severe lending crisis, and if China is not able to recover as everyone wants it to, then we’ll have a…
China Bans Writers From Weibo for Comments on Stocks, Jobless Rate
China banned Wu Xiaobo, a well-known finance writer, as well as two of his peers from writing on the Chinese social media platform Weibo for allegedly spreading “negative and harmful information” …
China’s central fiscal deficit stays within budgeted range, pointing to policy continuity
China’s central fiscal deficit stood at 2.65 trillion yuan ($367 billion) in 2022, basically equal to previous year’s budgeted fiscal deficit. Analysts attributed the fiscal deficit control to the …
Pakistan to start work on $4.8bn China-funded reactor “without delay”
China has signed a preliminary agreement with Pakistan to finance and build a 1.2GW nuclear reactor there worth $4.8bn, CNN reports.
NIM to offset China CITIC Bank elevated credit costs: Moody’s
The reopening of mainland China will drive sales of wealth management and insurance products. China CITIC Bank is expected to keep a stable financial profile in the next 12 to 18 months due to its…
China in Africa: why Angola’s economy is likely to rely on Chinese financing for decades to come
For the past six years, the country’s president has been trying to cut its reliance on oil and Chinese debt Luanda used surging crude prices to pay down some borrowings but Chinese lenders are still…
Beijing Review: Getting Results
“La única forma de ser provechosamente nacional consiste en ser generosamente universal.” That is Spanish for “the only way to be profitable on a national level is to be generous on a universal one.” …
