China to Cut Reserve Requirement Ratio by 2%, Freeing Up 4.4 Trillion Yuan to Save Economy
China announced it will cut the reserve requirement ratio by 2% on February 5, freeing up 4.4 trillion yuan to save the economy. (AFP, Beijing, 24th) Pan Gongsheng, Governor of the People’s Bank of China (PBOC), announced today that the People’s Bank of China will lower the reserve deposit ratio by 0.5 percentage points on […]
The People’s Bank of China Extends Monetary Policies to Provide Support for Real Estate Companies
Central Bank and Two Government Agencies Extend Monetary Policies to Support Real Estate Companies Xinhua News Agency, Beijing, July 10th The central bank and two other government departments have announced the extension of two monetary policies aimed at providing continuous and stable support to real estate companies. The People’s Bank of China and the State […]
China’s economy suffers, Russia throws RMB wildly-Free Finance and Economics
China’s economy is suffering, the renminbi is depreciating, and Russia is making up for it. (Schematic, Reuters) [Financial Channel/Comprehensive Report]The disastrous situation of China’s economy, even Liu Xiaoguang, a professor at Renmin University of China, has come forward to complain. The current economy is facing “five 20%”, the youth unemployment rate, and the annual decline […]
Chinese state-owned bank sells dollars on the night of the 25th to support the yuan exchange rate = related sources | Reuters
BEIJING (Reuters) – China’s top state-owned banks sold dollars in onshore and offshore markets on Thursday night to support a declining yuan, two sources told Reuters. FILE PHOTO: Beijing, China September 2022. REUTERS/Florence Lo [上海／北京 ２６日 ロイター] – China’s major state-owned banks sold dollars in onshore and offshore markets late on Wednesday to support the […]
If you refuse to accept it and be fined, how can the legal status of the renminbi be challenged?
□You Telford The People’s Bank of China recently announced that in the second quarter of 2022, the People’s Bank of China will impose economic penalties on 20 units and relevant responsible persons, including China Pacific Life Insurance Co., Ltd. Beijing Tongzhou Branch Company, which refuse to accept cash. ranging from RMB 190,000. The reporter combed […]
Thousands of victims of Chinese bank ‘suspend withdrawal’ protest, bloody clash
In Zhengzhou, Henan Province, China, thousands of people protested against the suspension of deposit withdrawals, and bloody clashes occurred during the forced dissolution process. Protesters gathered in front of the People’s Bank of Zhengzhou building, holding up banners with slogans such as ‘oppose corruption and violence in the Henan province government’ and ‘The Chinese dream […]
First experience of digital RMB in Tianjin_Pilot_Scenario_Wallet
On April 2, the People’s Bank of China announced that Tianjin has become one of the third batch of digital RMB pilot cities. From physical objects, to metal coins, and then to paper money, the form of money has continuously evolved throughout history. Today, as a new form of currency, how will the digital renminbi […]
Column: Systemic crisis starting from Evergrande in China, signs of risk receding | Reuters
[Hong Kong, 18th Reuters BREAKINGVIEWS]–Last year, Xu Jiayin, chairman of China’s Evergrande Group, a major Chinese real estate developer in a financial crisis, wrote a letter suggesting that the company is “too big to crush” in the real estate industry. It has become clear that On October 18, Xu Jiayin, chairman of China’s Evergrande Group, […]
Focus: China’s leadership adheres to real estate regulations despite economic slowdown Fine-tuning in terms of implementation | Reuters
[Beijing, 14th Reuters]–China’s political leadership is worried that a prolonged real estate bubble will undermine its long-term economic growth base, and even if the economy slows, it will strictly regulate the real estate sector. Is likely to be maintained. However, there is a possibility that the reins will be loosened a little in terms of […]
Billions of dollars off-balance sheet debt to major real estate companies including Evergrande Group = JP Morgan | Reuters
JP Morgan estimates that many of China’s real estate giants, including the Evergrande Group in crisis, have billions of dollars in off-balance sheet debt. Taken in August (2021 Reuters / Tyrone Siu) (Correct the heading “Off-book assets” to “Off-book debt”.) [London, 7th Reuters]–JP Morgan estimates that many Chinese real estate giants, including the Evergrande Group […]
