Speculation was rife the central bank in China was intervening in the currency market to staunch losses and prevent a potentially destabilizing sell-off in the yuan. Chinese financial markets have been jittery ahead of a…
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China Won’t Weaponize the Yuan in Trade War, PBOC Official Says
People’s Bank of China Governor Yi Gang said China will “keep the yuan exchange rate basically stable at reasonable and balanced level,” a repetition of standard language that helped stoke speculation that policy makers are…
China says confident of coping with major and external risks
BEIJING (Reuters) – China’s leaders are confident the country can cope with major and external risks, they said at a high-level internal financial meeting, amid financial turbulence at home and rising trade tensions with the…
China says “fully prepared” if trade war kicks off this week
Trump has accused China of unfairly acquiring U.S. technology through coercion and theft and limiting market access for U.S. finance and technology firms — claims that China denies. China accuses Washington of protectionism, pointing to…
China central bank seeks to reassure after renminbi tumble
China’s renminbi suffered one of its worst intraday falls on record on Tuesday before the central bank appeared to intervene to stabilise the market. The onshore renminbi fell 0.8 per cent against the US dollar…
China seeks to soothe markets as trade angst rattles stocks, yuan
SHANGHAI (Reuters) – China’s central bank moved to calm jittery financial markets on Tuesday after the yuan dropped through the psychologically significant 6.7 to the dollar mark, hitting its lowest in almost a year as…
China central bank seeks to reassure on renminbi weakness
China’s central bank is paying “intimate attention” to recent renminbi depreciation and will maintain its policy of letting market fundamentals guide the renminbi exchange rate, People’s Bank of China governor Yi Gang said on Tuesday.…
China central bank blames yuan moves on dollar rise, external uncertainty
SHANGHAI: China’s central bank chief on Tuesday blamed the yuan’s recent weakness on the US dollar’s strength and external uncertainties, as state-owned banks were seen trying to prop up the currency. “Recently, there have been…
China Bank’s Capital Almost Wiped Out as Loan Rules Tighten
A surge in bad loans has nearly wiped out the capital of a Chinese rural bank, according to a local ratings firm, raising fresh doubts about the financial health of the nation’s smaller lenders. Guiyang…
Beijing softens tone on debt crackdown as trade tensions threaten growth
Beijing has signalled a softer stance in its campaign to cut … The MPC is the highest monetary advisory body to the People’s Bank of China (PBOC), the country’s central bank. There was no briefing…
China leads drop in global stocks on trade tension
On Sunday, the Financial Times reported that the European Commission warned … to the US president’s threat to add tariffs on imported vehicles. Pressure on China’s bourses came alongside a further weakening in the renminbi,…
China Development Bank to sell bonds worth US$5.28 billion on connect programme anniversary
China Development Bank, a policy lender that supports state projects, said on Monday it will sell 35 billion yuan (US$5.28 billion) of debt that offshore investors can buy through the bond connect programme with Hong…
China’s central bank injects liquidity into market in June
BEIJING – China’s central bank said Monday it continued to pump cash into the money market in June to meet financial institutions’ demand for liquidity. The People’s Bank of China (PBOC) said 663 billion yuan…
