finance

Although growth of Hong Kong's yuan deposits has slowed, the offshore yuan market remains vibrant and overseas demand for the currency will keep rising, Norman Chan, chief executive of the Hong Kong Monetary Authority (HKMA), said on Wednesday. "Compared with last year, in 2011 ...
China's central bank said Wednesday reserve requirements for six rural banks in the eastern province of Zhejiang will be adjusted back to 16 percent from Nov. 25. The People's Bank of China implemented differentiated reserve requirements for rural lenders. Every November, the ...
As China continues the reform of rural credit cooperatives (RCCs), investment opportunities for foreign capital will increase, officials and analysts said. "We expect more RCCs will be transformed into rural commercial banks after equity reform, and foreign investors are welcome ...
Chinese banks' yuan positions for foreign exchange purchases fell for the first time in four years last month, sparking expectations of a slowdown in yuan appreciation and monetary loosening measures. Yuan positions declined by 24.9 billion yuan ($3.9 billion) in October, ...
The Chinese currency Renminbi, or the yuan, lost 33 basis points to 6.3555 against the U.S. dollar on Tuesday, according to the China Foreign Exchange Trading System. In China's foreign exchange spot market, the yuan is allowed to rise or fall by 0.5 percent from the central ...
The gold price in Hong Kong went down 80 HK dollars to open at 15,960 HK dollars per tael on Monday, according to the Chinese Gold and Silver Exchange Society. The price is equivalent to 1,720.01 U.S. dollars a troy ounce, down 8.84 U.S. dollars at the latest exchange rate of one ...
The Chinese currency Renminbi, or the yuan, strengthened 26 basis points to 6.3522 against the U.S. dollar on Monday, according to the China Foreign Exchange Trading System. In China's foreign exchange spot market, the yuan is allowed to rise or fall by 0.5 percent from the ...
The China Investment Corporation (CIC), the country's sovereign wealth fund, said on Friday it has acquired 2.76 billion Hong Kong-traded shares of China Construction Bank (CCB) for $1.75 billion. The bank's H-shares have a long-term investment value, the CIC said in a statement ...
The yuan exchange rate did not cause the trade imbalance between China and the United States, and its appreciation alone would not end high U.S. unemployment, Chinese Ambassador to the U.S. Zhang Yesui said Friday night. Zhang was speaking before a group of Chinese and U.S. ...
The People's Bank of China (PBOC), the country's central bank, on Thursday mildly surprised traders by ceasing liquidity injection in open market operations amid speculations that a selective loosening in policy is imminent. Completing its open market operations this week, the ...
The gold price in Hong Kong went down 78 HK dollars to open at 16,370 HK dollars per tael on Thursday, according to the Chinese Gold and Silver Exchange Society. The price is equivalent to 1,765.1 U.S. dollars a troy ounce, down 8.41 U.S. dollars at the latest exchange rate of ...
The Chinese currency Renminbi, or the yuan, weakened 44 basis points to 6.3553 against the U.S. dollar on Thursday, according to the China Foreign Exchange Trading System. In China's foreign exchange spot market, the yuan is allowed to rise or fall by 0.5 percent from the central ...
Commercial lenders have received orders from banking regulators to halt sales of short-term individual wealth management products (WMP) with a maturity of less than a month, said a senior banking executive on Thursday. The source from the private banking sector of China Citic ...
Much debate has arisen recently over a draft regulation that would force employers to pay for two additional types of insurance for their employees. The proposal, which the Ministry of Human Resources and Social Security posted to the website of the State Council's Legislative ...
Temasek has bought about one third of the China Construction Bank (CCB) shares that have been offloaded by Bank of America in recent days, media reports said. The Temasek acquisition will bring its stake in the Chinese lender to more than nine percent, making it the largest ...
China Securities Regulatory Commission (CSRC) on Wednesday approved New China Life's application of Initial Public Offering (IPO), kicking off the company's dual listing in Hong Kong and Shanghai. The company is expected to raise up to 5 billion yuan ($757 million) on the ...
China's Bank of Communications said Wednesday that its branch in San Francisco has opened for business. The branch is the bank's second in the U.S., following the New York branch established in 1991. By providing financial services to China-related businesses in the U.S., the ...
The People's Bank of China (PBOC), the country's central bank, said Wednesday it will continue to maintain the current prudent monetary policies while making them more targeted and flexible. The country will closely monitor the changes in economic and financial situations both ...
China's Ministry of Commerce (MOC) reiterated on Wednesday that accusations on the exchange rate issue of Chinese currency is groundless and unreasonable. Many economists, both from China and abroad, have proved the exchange rate of yuan is not the major cause of trade imbalance ...
China's banking system will be in good shape as the government fine-tunes its macroeconomic policies, despite a warning from the International Monetary Fund (IMF) on Tuesday that lenders could face systemic risks if several major shocks took place simultaneously, said analysts. ...
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China's reform leading group holds first meeting
China's reform leading group holds first meeting
BEIJING, Jan. 22 (Xinhua) -- China's leading group for overall reform ...
China stocks close higher over liquidity injection
China stocks close higher over liquidity injection
BEIJING, Jan. 21 (Xinhua) -- Chinese shares rose on Tuesday after the ...
China slams Japan's NHK governor's denial of Nanjing massacre
China slams Japan's NHK governor's denial of Nanjing massacre
BEIJING, Feb. 5 (Xinhua) -- China on Wednesday slammed the remarks of ...
China cuts retail oil prices
China cuts retail oil prices
BEIJING, Jan. 24 (Xinhua) -- China's top economic planner announced on ...
Canada's main stock index tumbles over asset loss in emerging markets
Canada's main stock index tumbles over asset loss in emerging markets
TORONTO, Jan. 24 (Xinhua) -- Canada's main stock index fell sharply on ...
GM China chairman to retire
GM China chairman to retire
CHICAGO, Jan. 24 (Xinhua) -- General Motors Co. announced Friday that ...
Super car club in commercial drive
Super car club in commercial drive
On the night of Nov 11, more than 150 super cars were driven into the ...
China's banks must evolve or perish
China's banks must evolve or perish
As China's traditional banks raise interest rates to claw back lost ...
Chinese leader calls for more marine power
Chinese leader calls for more marine power
Chinese Vice Premier Zhang Gaoli Sunday called for research in polar ...
Stars 'Big Three' fall short of title in 1st year
Stars 'Big Three' fall short of title in 1st year
Miami Heat's LeBron James (R) stands with teammates Chris Bosh (C) and ...
Injured star short-track skater Wang Meng left out of China's squad for Sochi
Injured star short-track skater Wang Meng left out of China's squad for Sochi Winter Games
Injured Olympic champion Wang Meng has been ruled out of the 139...
Fourteen countries expected to compete in Cuba's wrestling tourney
Fourteen countries expected to compete in Cuba's wrestling tourney
Some 14 countries and regions are expected to compete in the 45th ...