China will continue to exempt New Energy Vehicles (BEVs, FCEVs and PHEVs) from purchase tax in 2023. There had already been reports to this effect at the beginning of August, but now the official …
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China raises reserve requirement for forward forex trading
China will elevate the foreign exchange risk reserve ratio for forward-forex sales to maintain the supply-demand balance in the country’s forex market and stabilize the yuan exchange rate. The ratio …
China extends purchase-tax waiver for NEVs to end-2023 to support sector’s growth
China will extend the exemption of purchase taxes on new-energy vehicles (NEVs) for another year until the end of 2023 to support the development of the sector and boost consumption, the Ministry of …
Electric cars: Beijing extends exemption from 5 per cent purchase tax to end of 2023 in boost for sector
The exemption from a tax levied on electric vehicle purchases will be extended until 2024, Beijing announced, in an apparent effort to further bolster the use of battery-powered cars on mainland …
China’s Central Bank Moves Further to Bolster the Yuan
The People’s Bank of China is making it more expensive for traders and institutions to bet against the yuan after it weakened rapidly against the dollar.
China exempts purchase tax on new energy vehicles until 2023
China will extend the exemption of purchase tax on new energy vehicles, which is scheduled to expire by the end of the year, to the end of 2023, according to a notice issued by the…
China acts to rein in yuan slump, poised to raise FX risk reserve ratio
China’s central bank on Monday announced fresh steps to slow the pace of the yuan’s recent depreciation by making it more expensive to bet against the currency, as global policymakers grappled with …
China Steps Up Yuan Support as Currency Nears Weakest Since 2008
China made it more expensive to bet against the yuan in the derivatives market, ramping up support for the currency as it slides toward the weakest level since the 2008 financial crisis.Most Read from …
China is unlikely to see ‘significant easing’ of Covid measures till next spring, says Goldman Sachs
Andrew Tilton of the investment bank says how things play out in Hong Kong will play a part in China’s decision on when it would ease Covid regulations.
China PBOC Raises Forex Risk Reserve Ratio for Forward Trading
China’s central bank said it would increase the risk reserve requirement ratio for financial institutions when conducting foreign-exchange forward trading, as the yuan faces increasing depreciation …
Inclusive finance conducive to SMEs
SMEs are the largest and most dynamic group of enterprises. However, because of their small size, they are vulnerable to risks. It is important that the financial sector make greater efforts to better …
China acts to rein in yuan slump, set to raise FX risk reserve ratio to 20%
China’s central bank said on Monday it will reinstate foreign exchange risk reserves for some forwards contracts, a move that would make betting against the yuan currency more expensive in order to …
Wall Street banks review contingency plan as China-Taiwan tension escalates
While financial services executives said they view the risk of armed conflict in North Asia as low, they see tit-for-tat sanctions between the US and China that disrupt the flow of finance and trade …
