The People’s Bank of China is exploring ways to lower high long-term borrowing costs by pushing down yields on longer-term bonds and mopping up excess short-term funds, Reuters reported, citing an unnamed economist who advises the government. Banks have remained reluctant to make long-term loans to businesses despite easing measures taken by the central bank to […]
Category: Banking & Finance
State-backed payment service firm UnionPay is preparing to install thousands of point-of-sales machines and clearing and settlement networks in Central Asia as it seeks to offer payment services in countries like Kazakhstan in line with the Chinese government’s international infrastructure initiative known as “One Belt, One Road,” South China Morning Post reported, citing a statement […]
The launch this month of Alibaba-backed online bank MYbank – run by Ant Financial Services Group – may be constrained by by China’s central bank and the Ministry of Public Security, which have raised concerns over potential security risks posed by facial-recognition technology needed to enable users to open an account without requiring normal in-person […]
China’s outstanding bank loans grew by 14%, or RMB900.8 billion (US$145.15 billion) in May as the country’s broadest measure of money supply, M2, also rose 10.8% over the same period a year earlier, Reuters reported, citing a statement from the People’s Bank of China. Analysts had been waiting to see if the May money supply figures […]
Charles Li, chief of Hong Kong Exchanges and Clearing, said the territory’s bourse could introduce a mechanism to prevent individual stocks from changing in value by more than 10% within a five-minute span as soon as 2016, South China Morning Post reported. Such volatility control mechanisms are meant to protect investors from sharp drop-offs in […]