China’s biggest state-owned banks are launching a third round of deposit rate cuts in a year, as lenders work to maintain profitability amid shrinking margins and government policies aimed at boosting …
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China digital currency: Bank of China completes cross-border settlement for precious metals trading using e-CNY
China has been expanding the use of its sovereign digital currency in cross-border businesses, with the Bank of China completing the first cross-border settlement for precious metals trading.
China’s major banks to cut time deposit rates on Friday – sources
Some major Chinese commercial banks will cut time deposit rates on Friday, three sources with knowledge of the matter said, providing room to reduce lending costs amid a faltering economy. Rates for 1 …
Top US retirement funds trigger national security fears after sinking $68B into China market over last 3 years
American public pensions have invested more than $68 billion in China – the US’ No. 1 adversary – and finance experts are ringing the alarm on how that jeopardizes national …
China’s renminbi pips Japanese yen to rank fourth in global payments
Figures released on Wednesday by international payments platform Swift showed the renminbi’s share of global payments had climbed to 4.6 per cent in November, up from 3.6 per cent a month before. It …
Chinese stocks remain unloved among global funds amid concerns about banking crisis, property market risks: BofA surveys
Investors still view Chinese stocks as too risky to dive into after a record streak of losses on the mainland and Hong Kong bourses. Concerns about a banking crisis have emerged, compounding the …
China is world’s second-largest economy but its passport is ranked 63rd. Are things looking up?
Zhou, the bank executive, sees the “Sin-Ma-Thai” visa waivers as a nod to China’s development over the past few decades, including how the quality of its tourists have also improved. In the early …
Chinese Bank Seals First-ever Cross-border CBDC-powered Precious Metals Deal
The Bank of China has completed the world’s first cross-border CBDC-powered precious metals deal – a gold transaction worth some $14.1 million.
China’s cold snap reaches Shanghai with chilliest year-end in 40 years
China’s financial hub Shanghai was set to record its chilliest period in December in four decades, spurring authorities to issue warnings for low temperatures and wind, while northern cities battled …
Beijing courts committed to money laundering fight
Beijing courts have pledged to strengthen their fight against money laundering, as methods of committing such crimes become more diverse and a greater number of well-educated young offenders get …
China reportedly suspends US$6.5 billion currency swap agreement with Argentina
Freeze comes as new Argentine President Javier Milei, who campaigned on breaking ties with China, faces financial challenges As Buenos Aires considers shifting more toward the US, Beijing might exert …
Top retirement funds trigger security fears after sinking $68B into China market
American public pensions have invested more than $68 billion in China – the US’ No. 1 adversary – and finance experts are ringing the alarm on how that jeopardizes national …
China’s exposure to US bonds falls further
Wang Qing, chief macroeconomy analyst at Golden Credit Rating, said that China’s shrinking exposure to US bonds has been a long-term trend since the holdings peaked at the end of 2013.
