The People’s Bank of China reduced its one-year loan prime rate by 0.1 percentage point to 3.45% while the five-year rate was kept unchanged at 4.2%, disappointing investors.
Tagged By finance
Beijing: real estate crisis spreads to financial brokerage firms
China’s bubble ready to burst, as shown by the China Evergrande Group filing for bankruptcy protection in New York. Construction giants and huge defaults. The woes of Zhongzhi, empire of fina …
China’s lending rate drops amid strengthened policies to boost economy
A signal was sent to intensify counter-cyclical adjustments and promote a quicker economic recovery, said Dong Ximiao, the chief researcher of Merchants Union Consumer Finance Company Limited. The …
Expect a weaker yuan amidst China’s underwhelming policy response: Deutsche Bank
Tim Baker of Deutsche Bank weighs in on his outlook for the Chinese yuan after the PBOC’s cut to its benchmark 1-year loan prime rate.
China Cuts Key Interest Rate Again as Property Slump Spreads
The action by the People’s Bank of China, the central bank, the latest in a series of steps to try to spur lending, was more modest than expected. By Keith Bradsher Reporting from Beijing China’s…
China allocates another 500 mln yuan for relief in flood storage areas
China’s finance ministry, as well as the water resources ministry, have allocated a further 500 million yuan ($68.68 million) to help disaster-stricken residents in national flood storage areas …
UPDATE 1-China stocks, yuan fall as Beijing’s support fails to revive confidence
China and Hong Kong stocks fell on Monday, as regulators’ support measures and a fresh cut in the benchmark lending rate disappointed, even as listed firms and fund managers rushed to unveil share …
Taiwan’s Biggest Financial Firm Braces for Deeper China Turmoil
(Bloomberg) — Taiwan’s biggest financial conglomerate has cut back on its exposure to China as it braces for any deeper fallout from the property crisis in the world’s second-largest economy. Most Read from Bloomberg Borrowers…
China allocates another 500 million yuan for relief in flood storage areas
China’s finance ministry, as well as the water resources ministry, have allocated a further 500 million yuan ($68.
China stresses more financial support for real economy, defusing debt risks
China’s financial authorities have stressed efforts to enhance financial support for the real economy, as well as to prevent and defuse local-government debt risks. Financial support for the real …
China Urges More Loans, Debt Risk Reduction as Woes Compound
China’s central bank and the country’s financial and securities regulators urged a boosting of loans to support the economy and the cutting of local government bond risks.
Finance ministry steps up monitoring of China’s property woes
The finance ministry launched a special team to step up its monitoring of concerns about China’s economy, with property woes in China deepening its economic trouble, according to ministry officials on …
China Heading Towards Imminent Financial Crisis? Another Big Firm Defaults On Loan Repayments
They are considered part of the “shadow banking” industry, a sector that forms an important source of finance in China. The term usually refers to financing activity that takes place outside the …