PBOC

China Bans Cryptocurrency Transactions and Mining

On Friday, Chinese regulators announced a nationwide ban on cryptocurrency transactions and cryptocurrency mining. The culmination of a years-long crackdown, the move was meant to close loopholes in previous attempts to regulate...

China’s Anti-money Laundering Strategy Launched

From China Daily: China’s first anti-money laundering strategy was released today by the Central Bank and anti-money laundering departments, chinanews.cn reported. The strategy focuses on the anti-terrorism financing...

China Targets Stable, Fast Growth: Central Bank

From AFP: China’s central bank said Sunday it would seek to create conditions for “relatively fast” economic growth in the coming months, despite the ongoing threat of inflation. “We will use various...

China Central Bank Names Two Vice Governors; Wu Exits – Li Yanping

From Bloomberg: China appointed Yi Gang and Ma Delun as vice governors of the central bank as the government reshuffles jobs after the twice-a-decade Communist Party congress in October. The State Council, China’s cabinet, approved the promotions from assistant governors on Dec. 23, the People’s Bank of China said in a statement on its Web […]

China to Order Banks to Raise Cash Reserves – David Barboza

From New York Times: China said today that for the 10th time this year, it would order banks to raise the amount of cash they set aside, in order to curb inflation and prevent the economy from overheating. The Central Bank said that it had ordered banks to increase their reserve ratios by a full […]

China Soaks Up Banks’ Cash Again To Cool Economy – Jason Subler and Jerry Hua

From Reuters: China’s central bank on Saturday raised the proportion of deposits that banks must hold in reserve for the eighth time this year, extending a campaign to prevent the world’s fourth-largest economy from overheating. The half-point increase in the reserve requirement ratio, which will take effect on Oct. 25, brings the ratio for big […]

Tightening Policy Will Continue – Xin Zhiming

From China Daily: The central bank said on Friday that it will continue to adopt a “moderately tight” monetary policy in the coming months to keep the economy on the right track. On the whole, the economy is sound, but “still faces prominent problems such as excessive investment growth, too large a trade surplus and […]

China’s Rate Increase Targets Food Prices – Jamil Anderlini

From Financial Times: China’s central bank raised interest rates for the second time in less than a month on Friday in an attempt to rein in soaring food prices, excessive bank lending and bubbles in the property and stock markets. The People’s Bank of China lifted the one-year benchmark deposit rate by 27 basis points […]

China Vows to Curb Inflation As Economy Heats Up – Reuters

From Reuters via Khaleej Times Online: The People’s Bank of China (PBOC) pledged action on Wednesday to keep a lid on prices and prevent expectations of rising inflation from taking hold. In its monetary policy report for the second quarter, the central bank reaffirmed that it will moderately tighten monetary policy as it is detecting […]

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