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 …
Tagged By finance
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 …
Financial Crisis Redux Looms in Asia as Major Currencies Crack
Asian markets risk a reprise of financial crisis-level stress as two of the region’s most important currencies crumble under the onslaught of relentless dollar strength.
CHINA FOCUS: A reason for cautious optimism
In the first half of 2022, the global economy was marked with recession fears, rising inflation and disruptions caused by ongoing geopolitical tensions, officially marking the end of the boom …
China Probes Former Mutual Fund Executive in Anti-Graft Push
Chinese authorities put a former general manager of a local asset management firm under investigation, as the Communist Party further tightens oversight of the financial sector ahead of a key congress …
