[Photo/Agencies] BEIJING – China’s non-financial outbound direct investment (ODI) maintained a double-digit growth in January, the third consecutive monthly increase, official data showed Tuesday. Chinese investors made 69.5 billion yuan ($11 billion … ( read…
Tagged By financials
Beijing sees more community-based bank branch closures
such as transactions of financial products and payment for water and electricity.However, all the services are accessible online. A resident of Beijing’s Xicheng District surnamed Wang, said that about half of the bank branches in…
China’s experience in inclusive finance helpful to other countries: report
BEIJING – China’s experience in groping for a sustainable development pattern of inclusive finance is helpful to global financial regulators, a report said Sunday. The report, jointly released by the People’s Bank of China and…
China to strengthen regulation over Internet finance businesses
BEIJING – China will continue to strengthen regulation over the country’s mushrooming Internet finance businesses in 2018 to facilitate long-term development of the industry, the National Internet Finance Association (NIFA) has said. Instead of conducting…
China names JPMorgan Chase as yuan clearing bank in U.S
BEIJING (Reuters) – China’s central bank on Tuesday named JPMorgan Chase & Co. (JPM.N) as yuan clearing bank in the United States, as Chinese authorities seek to boost global use of the yuan. The pick…
China may soften curbs in financial sector to protect economy
In Photo: Nanjing, China, prides itself with its modern buildings, including the country’s seventh-tallest, Zifeng Tower (left), which stands at 450 meters high and 66 floors. China may be forced to soften efforts to curb…
Beijing warns on trade tensions as it aims at US chemical
Trade tensions between the world’s two biggest economies rose again on Tuesday as Beijing accused Washington of “excessive protectionism” after targeting imports of a key chemical from the United States. The administration of US President…
China central bank lends 393 billion yuan via MLF, rates unchanged
SHANGHAI (Reuters) – China’s central bank said on Tuesday it had injected 393 billion yuan ($62.13 billion) into the financial system via one-year medium-term lending facility (MLF) loans. Interest rates for the MLF loans were…
End of a monetary era for China
This thinking has been evolving for some time. Back in 2016, the Governor of the People’s Bank of China (PBOC), Zhou Xiaochuan, set out the Bank’s thinking about digital currency, saying that it is an…
China’s new loans in Jan surge to record 2.9 trillion yuan, blow past forecasts
Reflecting that tricky balancing act, authorities are already warning China’s banks to rein in new lending growth after the strong start to the year, financial magazine Caixin reported late on Monday, citing banking sources. Broad…
China names JP Morgan Chase Bank as yuan clearing bank in U.S.
BEIJING (Reuters) – China’s central bank on Tuesday named JP Morgan Chase Bank as yuan clearing bank in the United States. The People’s Bank of China made the announcement on its website. ( read original…
China Jan new loans surge to record 2.9 trillion yuan, blow past forecasts
BEIJING (REUTERS) – China’s banks extended a record 2.9 trillion yuan (US$ … according to Reuters calculations based on the central bank data. Beijing is in the second year of a regulatory push to clamp…
Nation’s central bank warns of digital financial risks
“China’s rate of account ownership – a basic metric of financial inclusion – has increased significantly and is now on par with that of other G20 countries,” while having the world’s largest agent banking network,…
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