Official calls for China’s major banks to lend to farmers have been effectively undone by other official orders for banks to reduce their holdings of bad debt, Reuters reported, citing bankers, economists and analysts. The share of loans going to agriculture has declined every year since 2010, official data show; in 2014 banks lent RMB306.5 […]
Category: Banking & Finance
The People’s Bank of China’s monetary policy has shifted from dealing with an inundation of foreign exchange to deploying an expanding suite of tools in order to keep the country’s base money growing in the face of capital outflows, The Financial Times reported, citing the central bank’s latest monetary policy report. While the bank’s purchases of […]
China’s central bank added a net RMB45 billion (US7.2 billion) into the country’s money market Tuesday, marking the seventh week of pump-priming injections, The Wall Street Journal reported. The People’s Bank of China conducts liquidity operations every Tuesday and Thursday, and the latest injection was higher than the average RMB39.3 billion a week the bank has […]
J.P. Morgan Chase’s (JPM.NYSE) hiring of Gao Jue, son of China’s current commerce minister, has drawn growing scrutiny from US regulators investigating hiring practices at several major American banks, with internal bank emails showing one senior banker describing the younger Gao as “immature, irresponsible and unreliable,” The Wall Street Journal reported. The bank’s decision to hire […]
The People’s Bank of China’s reduction of domestic banks’ reserve requirement ratio to counter capital outflows and bolster growth may do little to spur loan demand or assure bankers that the country’s small businesses are worth the risk, The Wall Street Journal reported, citing analysts and business people. Economists said the cut could be the first of several […]