The 100-yuan note will see its first upgrade since 2005 this November in an effort to fight rampant counterfeiting, South China Morning Post reported. While the old portrait of Mao Zedong remains, the new notes will include features such as color-changing ink and additional serial numbers. The face value of seized counterfeit money on the mainland […]
Category: Banking & Finance
China’s paring of its holdings of United States debt by US$180 billion between March 2014 and May 2015 have had little impact on demand for US Treasuries, with benchmark 10-year yields falling only 0.6%, Bloomberg reported, citing new data from the US Treasury Department. other sources of demand are filling the void. Regulations designed to prevent another […]
China’s state financial institutions have spent around US$144 billion to support the mainland’s stock market since June, less than half of the US$322 billion believed to be at their disposal, The Financial Times reported, citing estimates from Goldman Sachs. “The episode has underlined the difficulty the government faces in the task it has set itself of […]
China’s banks saw bad loans grow by RMB322.2 billion (US$51.89 billion) in the first half of 2015 to reach a total of RMB1.8 trillion, pushing the country’s ratio of bad loans to total loans to 1.82%, Caixin reported, citing new data released by the China Banking Regulatory Commission. The data also showed that the amount of […]
Loans via peer-to-peer platforms and other online lenders for equity purchases have fallen by RMB700 billion (US$113 billion) – a 61% drop from their peak – after the China Securities Regulatory Commission banned the practice on July 12, Bloomberg reported, citing a July survey it had conducted. “The new regulations are making the industry more […]