Category: Finance
Financial news from the east.
Largest Cut to Key Mortgage Rate Since 2019
China has lowered its prime loan rate for five-year loans by 25 basis points, to 3.95%, which is the biggest decrease since 2019. By lowering the [more…]
New Yuan Bank Loans Hit Record High
Chinese banks granted a record number of new loans in January demonstrating Beijing’s attempts to stabilise development in the second-largest economy in the world. At [more…]
China Trade Data for 2023 Released
China’s foreign trade value dropped by 5% to USD5.9 trillion last year, with exports falling by 4.6% to USD3.38 trillion and imports by 5.5% to [more…]
China Increases Regulation On LGFV Offshore Bonds
Chinese regulators have closed a regulatory gap that allowed highly indebted local government finance vehicles (LGFVs) to expand borrowing last year by ordering LGFVs to [more…]
PBOC Keeps Prime Lending Rates Steady
The benchmark lending rates of Chinese banks have not changed, suggesting that more monetary easing is anticipated in the first part of 2024. After reducing [more…]
China ETFs See Record Inflows
According to mutual fund firm China Asset Management Co (ChinaAMC), China’s exchange-traded funds (ETFs) have experienced an annual net inflow of over 400 billion yuan [more…]
Ant Group Cleared To Release Financial AI Tools
Ant Group’s artificial intelligence (AI) products are now legally available to the general public, following approval from Chinese regulators. The company, which arose from Beijing’s [more…]
Yuan is Now Second Most Used Currency For Trade Finance
Based on data from the global SWIFT system, the yuan has surpassed the euro to become the second most important currency in trade settlements for [more…]
Brazil Settled First International Yuan Loan
A step towards the internationalisation of the Chinese currency has been accomplished with the completion of the first cross-border commercial loan in Brazil denominated in [more…]
China to Shrink US Treasury Holdings
As part of China’s increased efforts to diversify its foreign exchange reserves, due to the global liquidity and safety risks, the country may keep cutting [more…]
