Chinese banks made more loans in May to counter slowing economic growth, but demand for business credit remained sluggish and suggested the need for further policy easing, reported Caixin. In May, banks made RMB 1.18 trillion ($170.5 billion) in net new loans, up from RMB 1.02 trillion in the previous month, according to the data. […]
Category: Banking & Finance
The People’s Bank of China (PBoC), China’s central bank, said it will inject RMB 35 billion ($5.06 billion) into China’s banking system through open market operations on Wednesday, reported Reuters. The PBoC is injecting RMB 15 billion through seven-day reverse bond repurchase agreements and RMB 20 billion through 28-day reverse repos. The last time the […]
The World Bank has lowered its forecast for China’s economic growth in 2020 to 6.1% from the previous 6.2% in light of current levels of Sino-US trade tensions, reported Caixin. “China’s immediate policy challenge is to manage disruptions caused by trade tensions with the United States without exacerbating domestic vulnerabilities,” the global development institution said in a report […]
A $647 billion blind spot in financial reporting by China’s city and rural commercial banks is fueling investor concerns that more of the country’s lenders face government intervention or collapse in the wake of the state takeover of Baoshang Bank, reported the Financial Times. Baoshang was one of 19 banks with a combined RMB 4.47 trillion […]
China’s stock market was hit by the biggest outflow of foreign capital on record in April and May as the trade war with the US and concerns over the stability of the RMB weighed over investors, reported the Financial Times. A total of about $12 billion left China’s market during April and May, according to […]