The Federal Reserve has warned central bank digital currencies might one day replace commercial banks, creating “a deposit monopolist” and playing “havoc” with the … ( read original story …)
Tagged By financials
Beijing city authorities rejects calls for allow roadside stalls to return, saying they are ‘unsuitable’ for Chinese capital
Premier Li Keqiang had touted the ‘vendor economy’ as a way of helping the post-coronavirus recovery, but municipal authorities say this does not fit their plans. ( read original story …)
China Markets Show Anxiety Over Looming $380 Billion Funding Gap
A looming liquidity shortage is challenging China’s efforts to keep borrowing costs low amid the economic fallout from the global pandemic. ( read original story …)
China c.bank drains net $63 bln yuan on week, biggest since mid-Feb
China’s central bank injected 150 billion yuan ($21.10 billion) into the banking system on Friday through seven-day reverse repurchase agreements, while keeping the interest rate unchanged at 2.20%. ( read original story …)
360 Finance’s Affiliate Acquires 30% Stake in Kincheng Bank of Tianjin
Finance, Inc. (NASDAQ: QFIN) (“360 Finance” or the “Company”), a leading digital consumer finance platform, today announced that 360 Group, one of its affiliates, acquired a 30% stake in Kincheng Bank … ( read original…
China Central Bank Drains Net $63 Billion Yuan on Week, Biggest Since Mid-Feb
The People’s Bank of China (PBOC) said in a statement Friday’s fund injection was to counteract the impact from factors including maturing reverse repos and financial institutions’ reserve requirement … ( read original story …)
Beijing’s change of heart on street vendors sparks stock market frenzy as traders predict surging demand for vans, kitchenware, umbrellas
China’s street vendors are officially flavour of the month, and the share prices of related companies reflect their new-found status.A policy U-turn by the Chinese government to support the tiny … ( read original story…
China Green Finance
China’s green bond market is becoming big for international investors to ignore, but questions remain over standards and disclosure. Can China take meaningful steps towards aligning itself with global … ( read original story …)
China Tackles the Dirty Work of Finance
Beijing is scrubbing up. Late last week, the central bank excluded so-called clean coal from a draft list of projects eligible for green bonds. It’s a significant move that puts the world’s number-two … ( read original story …)
Trump’s Promised Farm Bonanza From China Deal Far From Fulfilled
President Donald Trump’s promise that his phase one trade deal with China would provide a $36.5 billion election-year bonanza for his rural base was always a stretch. Now it looks like it may never be…
Record Wave of Local Debt in China Leaves Foreigners Wary
China’s success in luring foreigners into its domestic debt market, the world’s second largest, faces a new test in coming months as officials try to drum up interest in a record wave of bonds from…
U.S. to revise Chinese passenger airline ban after Beijing move
The U.S. Transportation Department plans to issue a revised order in the coming days that is likely to allow some Chinese passenger airline flights to continue, government and airline officials said. ( read original story…
China’s banking regulator says U.S. sanctions would not shake Hong Kong
Hong Kong’s financial markets and currency peg with the U.S. dollar are stable and sanctions proposed by some U.S. politicians will not have a material impact, a spokesperson at the China Banking and … (…
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