The trial period handled more than 160 cross-border payments and foreign exchange transactions totalling over 150 million yuan.
Tagged By banking
China Construction Bank to Set Up Consumer Finance Unit
China Construction Bank plans to invest 6 billion yuan ($835.9 million) to establish CCB Consumer Finance Co., the bank said. The unit will have a registered capital of 7.2 billion yuan. Beijing State …
China’s central bank unveils relending facility for equipment upgrading
China’s central bank on Wednesday said it had rolled out a special relending facility worth over 200 billion yuan (about 28.13 billion U.S. dollars) to support equipment upgrading and renovation. The …
China to pilot inclusive finance reform in three cities
China will carry out pilot inclusive finance reform in three cities, the country’s central bank said Wednesday. Trials will be conducted in Tongchuan, northwest China’s Shaanxi Province, Lishui in …
China’s c.bank launches $28 bln loan facility to support equipment upgrades
China’s central bank said on Wednesday it has set up a relending facility worth more than 200 billion yuan ($27.59 billion) to help manufacturers and other companies upgrade their equipment, as part …
China Says Stabilising FX Market Is Top Priority, Warns Against ‘Gambling’
China’s central bank said on Wednesday that stabilising the foreign exchange market is the top priority, after the yuan weakened to its lowest level since the global financial crisis of 2008. The …
Caixin Top Stories of the Month: China’s Mortgage Boycott Epicenter Gives Developers an Ultimatum
Caixin Global’s Top Stories of the Month newsletter brings you the most popular news coverage over the past month. You can opt in now and get it delivered to your inbox each month for free.…
China Central Bank Launches Relending Facility to Support Equipment Upgrades
China’s central bank said on Wednesday it has set up a relending facility with a more than 200-billion-yuan ($27.59 billion) quota to support equipment upgrades in manufacturing and other sectors. The …
China’s yuan ends at weakest since global financial crisis, hits record low offshore
China’s onshore yuan extended losses on Wednesday to end the domestic session at its lowest level against the dollar since the global financial crisis of 2008, while the offshore yuan hit a record low …
China’s offshore yuan hits record low against strengthening dollar
China’s yuan tumbled against a rising dollar in early deals on Wednesday, with its offshore trades dropping to a record low, pressured by expectations for more Federal Reserve rate hikes.
China’s yuan sinks to record low against the dollar
China’s yuan has tumbled to a record low against the US dollar in offshore trading, joining a host of currencies experiencing sharp declines against the greenback. The offshore yuan, which is traded …
China Construction Bank to Invest CNY6 Bln to Set Up Consumer Finance Unit
By Clarence Leong China Construction Bank Corp. said it plans to invest 6 billion yuan ($835.9 million) to set up a consumer finance unit, as the …
China has great growth potential despite difficulties, says expert
SHANGHAI: China still has huge economic growth potential in the coming years despite short-term disruptions from the Covid-19 pandemic, says Takehiko Nakao, former president of the Asian Development …
