Hundreds of bank depositors clashed with police in Zhengzhou, the provincial capital of Henan, in a major escalation of a simmering conflict between rural customers and a consortium of likely insolvent local banks that have...
At China’s Two Sessions on Tuesday a panel of top financial regulators including...
As a rise in short-term interest rates has stoked fears of tightened liquidity, China’s...
The Wall Street Journal reports that Chinese stocks “were in free fall on Monday” after Beijing scrambled over the weekend to assure investors that its financial system had ample liquidity. After the People’s...
The World Bank lowered its growth forecast for China to 7.7 percent on Monday, 0.5 percent below its April estimate, according to the China Daily: The World Bank also lowered China’s growth forecast in 2013 to 8.1 percent,...
Following last weekend’s interest rate cuts by The People’s Bank of China, which signaled a move toward a more market-based banking system, The Wall Street Journal reports that China’s banks will likely feel...
Under a cloud cover of speculation about a potential fiscal stimulus package, China’s central bank announced a 25 basis point cut to lending and deposit rates on Thursday, its first interest rate cut since late 2008 and...
China’s central bank announced a 25 basis point cut to borrowing and lending rates on Thursday, the latest measure taken to stave off a hard landing for the economy. From The New York Times: The interest rate cut was the...
In a week dominated by the political drama surrounding the dismissal of embattled Chongqing party secretary Bo Xilai, speculation continued over possible monetary easing despite mixed messages from officials as they seek to...
A week after Premier Wen Jiabao opened the National People’s Congress by lowering China’s 2012 GDP growth target, and only a couple days after China announced its largest trade deficit in more than a decade,...
NPRs Planet Money podcast has posted the third show from their recent trip to China, which looks at U.S. reserves in the Chinese economy from the perspective of two business people in the export business: Today on the show, we...
China’s central bank announced a reduction in the amount of cash banks must hold as reserves on Saturday, capping a week that brought more signs of a slowing Chinese economy. The reserve requirement ratio for banks will...
After the reported slow down in October and the claims of a “soft landing” by China’s economists at APEC, the International Monetary Fund (IMF) warned that China’s banks were susceptible to off-balance...
An interview conducted by The 21st Century Business Herald with Wang Zili, the President of the Training Institute under the People’s Bank of China, discusses the implications of the US credit crisis. The Beijing Review...
From Financial Times: Zhou Xiaochuan , China’s central bank governor, is expected to be replaced in the wake of this month’s Communist party congress – with his chances of a promotion fading, say Chinese officials and diplomats. Officials, scholars and diplomats familiar with the finance sector gave conflicting accounts of why Mr Zhou’s term at […]
From Caijing.com.cn: The People’s Bank of China and the China Banking Regulatory Commission have announced plans to impose new real estate lending and credit policies aimed at quelling speculation through mortgage controls. Investors reacted to the announcement September 27 by pushing the Shanghai real estate compound index down nearly 4 percent to 303.25 points. At […]
From Caijing.com.cn: The People’s Bank of China ‘s Shanghai branch has warned commercial bank lenders about the risks involved in extending credit lines to octopus-like company groups. In a first-of-its-kind report released July 31, the central bank cited two examples of credit abuse by unnamed groups, although Caijing has learned that the questionable borrowers were […]
From People’s Daily Online: China’s central bank is to encourage the development of microcredit in a bid to boost employment, said a deputy governor of the People’s Bank of China on Wednesday. Wu Xiaoling said at a meeting that the bank would establish a long-term re-employment system through facilitating microcredit. [Full Text]
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