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...
by Liu Yong | Dec 23, 2009
From Bloomberg: China’s central bank reaffirmed plans to keep a “moderately loose” stance for 2010 and to restrict credit for industries with excess capacity, in its final monetary policy statement for the year. “Strict lending...
by Liu Yong | Jul 29, 2009
From Bloomberg: China’s central bank said it will maintain a “moderately loose monetary policy” and aims to consolidate the nation’s economic recovery. “To continue to foster the relatively smooth and fast economic development...
by Liu Yong | Jun 29, 2009
From Bloomberg: China’s central bank renewed its call for a new global currency and said the International Monetary Fund should manage more of members’ foreign-exchange reserves, triggering a decline in the U.S. dollar. “To...
by Liu Yong | Oct 9, 2008
From Bloomberg: China cut interest rates and allowed banks to set aside smaller reserves, supporting an unprecedented global effort to unfreeze credit markets and ease the worst financial crisis since the Great Depression. The...
by Liu Yong | Jun 3, 2008
From Bloomberg: China’s central bank rejected predictions that exports will collapse because of the U.S. economic slump, signaling policy makers are unlikely to relax lending curbs or stem the yuan’s appreciation....
by Liu Yong | Jun 1, 2008
From Bloomberg: Six months after the People’s Bank of China signaled a stepped-up battle against inflation, it has only fallen further behind in the fight. With inflation the highest in almost 12 years, central bank...
by Xiao Qiang | Jan 3, 2008
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 […]
by Xiao Qiang | Dec 9, 2007
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 […]
by Liu Yong | Nov 10, 2007
From AP, via International Herald Tribune: China’s central bank ordered commercial banks Saturday to keep more money on hand, raising a key reserve requirement yet again to try to rein in the rapid lending that is fueling torrid economic growth. The People’s Bank of China said the reserve requirement will be raised half a percentage […]
by Liu Yong | Oct 13, 2007
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 […]
by Liu Yong | Sep 28, 2007
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 […]
by Liu Yong | Sep 15, 2007
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 […]
by Liu Yong | Aug 26, 2007
From China Daily: For the fourth time this year, the People’s Bank of China, the central bank, raised interests rates on Wednesday. The interest rate on bank deposits was raised by 27 basis points, and the lending rate by 18 basis points. After the hikes, the benchmark one-year deposit rate is now 3.6 percent while […]
by Kate Zhao | Aug 8, 2007
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 […]
CDT in the News
- SCMP – Foreign journalists in China report state backing for rising intimidation during Henan floods
- Forum2000 – Data colonialism: Where China and the West diverge
- FT – China flood response reveals Beijing’s need to prepare for extreme weather
- LA Times – Amid crushing floods in China, officials focus not on climate change, but on control
- RFA – “Drowning” has become a sensitive word during Henan floods