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....Traders will be looking for signs about whether the Beijing government is prepared to let the yuan fall further against the dollar and risk the wrath of US president Donald Trump, who has accused China of keeping the yuan low in order to boost exports to the detriment of US producers. However, the People’s Bank of China has burned through a trillion dollars of foreign exchange reserves since 2014 in order to keep the yuan from falling even further, according to Capital Economics, and traders believe Beijing could allow the currency to float more freely against the dollar. ... [Read full article on Guardian ]
Friday 3rd of March 2017 06:26:46 AM
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Latest Finance News related to Bank Of China

China's economic concerns mount as thousands gather for congress image
Source : Guardian [Read Article] Friday 3rd of March 2017 06:26:46 AM
....Traders will be looking for signs about whether the Beijing government is prepared to let the yuan fall further against the dollar and risk the wrath of US president Donald Trump, who has accused China of keeping the yuan low in order to boost exports to the detriment of US producers. However, the People’s Bank of China has burned through a trillion dollars of foreign exchange reserves since 2014 in order to keep the yuan from falling even further, according to Capital Economics, and traders believe Beijing could allow the currency to float more freely against the dollar. ...
Housing worries image
Source : BBC [Read Article] Thursday 15th of December 2016 12:28:11 AM
....Estate agents in the capital say that in some of Beijing's most desirable developments, prices have doubled. Ma Jun, chief economist at the People's Bank of China, has used the word "bubble" to describe this, according to a Bloomberg translation of comments in Chinese. ...
Donald Trump: 'No new business deals' during presidency image
Source : BBC [Read Article] Tuesday 13th of December 2016 01:52:37 AM
.... . "Is he going to continue to borrow money from foreign banks like Bank of China? That is a deal," Mr Painter told the New York Times. ...
Potential clash image
Source : BBC [Read Article] Thursday 24th of November 2016 01:10:13 AM
....His firm also owes large debts. An investigation by the New York Times found Mr Trump's businesses owed at least $650m (£522m), some to the Bank of China and Deutsche Bank. ...
Citi and JP Morgan top regulators' list of banks posing systemic risk image
Source : Guardian [Read Article] Monday 21st of November 2016 06:44:37 PM
....Citi is among three US banks which have been pushed up the rankings: the other two are Bank of America and Wells Fargo. The rising importance of Chinese banks is also illustrated as Industrial and Commercial Bank of China has moved up one ranking. ...
China business confidence rises again image
Source : BBC [Read Article] Sunday 18th of September 2016 08:39:21 AM
....Confidence among Chinese entrepreneurs has picked up for the second quarter running, according to the country's central bank. People's Bank of China surveys showed the business confidence index rising to 51. ...
China's PSBC launches biggest share sale of the year image
Source : BBC [Read Article] Tuesday 13th of September 2016 06:31:35 AM
. Postal Savings Bank of China (PSBC) is looking to raise $8bn (£6bn) by listing its shares in Hong Kong, making it the world's biggest share sale this year. ...
Nick and Christian Candy accused of tax evasion in high court image
Source : Guardian [Read Article] Monday 13th of June 2016 11:53:16 AM
....”. To William Pym, copied to Nick Candy: “Let’s resolve Bank of China on Monday and Nick and I will make a decision. ...
CHINA ON BRINK: Economy misses vital trading targets at critical time image
Source : Daily Express [Read Article] Thursday 12th of May 2016 02:06:00 PM
....9 per cent. "If the latest April industrial production and retail sales data out this coming weekend also show similar softness then it’s reasonable to suppose that we could well see further easing measures from the People’s Bank of China in the coming weeks. ...
Asia gives up gains from Fed comments image
Source : BBC [Read Article] Thursday 31st of March 2016 01:38:03 AM
FTSE 100 moves higher but Halfords leads retailers lower on outlook fears image
.... There has been another attempt at economic stimulus, with Beijing again offering cheap loans to stock brokerages, which they can pass onto traders looking to invest in Chinese companies. But over the weekend Zhou Xiaochuan, governor of the People’s Bank of China, warned that corporate debt levels are too high. ...
Australia stocks fall on election move image
Source : BBC [Read Article] Monday 21st of March 2016 12:55:57 AM
....Over the weekend China's central bank governor warned over the weekend that the country's corporate debt levels were too high and that more reforms in its capital markets were needed. People's Bank of China (PBOC) governor Zhou Xiaochuan said in a speech at the China Development Forum conference that lending as a ratio to gross domestic product "is too high". ...
Slow China output fuels recovery fears image
Source : BBC [Read Article] Sunday 13th of March 2016 12:39:08 PM
...." . However, Zhou Xiaochuan, governor of the People's Bank of China, said that the government would be able to achieve a target of an average 6. ...
.... . Those worries, alongside non-existent inflation, mean the European Central Bank as well as the People's Bank of China are instead widely predicted to ease policy. ...
Is the world economy having a 2008 moment? image
Source : Guardian [Read Article] Wednesday 2nd of March 2016 02:11:00 PM
.... Indeed, monetary policies are becoming increasingly unconventional, reflected in the move by several central banks to negative real policy rates; and such unconventional policies risk doing more harm than good as they hurt the profitability of banks and other financial firms. Two dismal months for financial markets may give way in March to a relief rally for assets such as global equities, as some key central banks (the People’s Bank of China, the European Central Bank, and the Bank of Japan) ease more, while others (the Fed and the Bank of England) will remain on hold for longer. ...
China shares higher after bank move image
Source : BBC [Read Article] Tuesday 1st of March 2016 02:29:37 AM
....17. On Monday, the People's Bank of China unexpectedly lowered its Reserve Rate Ratio, cutting the amount of cash the country's lenders must hold in reserve. ...
China's central bank attempts to boost economy with cash injection image
Source : Guardian [Read Article] Monday 29th of February 2016 07:34:44 PM
....China’s central bank has stepped up action to bolster its cooling economy by loosening the rules on banks’ cash reserves in the hope that they will offer cheaper loans. By cutting the reserve requirement ratio (RRR) – the amount of cash that banks must hold as reserves – the People’s Bank of China has in effect injected $100bn (£72bn) of long-term cash into the economy, experts said. ...
China cuts reserve rates for fifth time in a year image
Source : Guardian [Read Article] Monday 29th of February 2016 11:48:11 AM
....China’s central bank has reduced the amount of cash banks must hold as reserves for the fifth time in the past year, as it seeks to revive the slowing economy. The People’s Bank of China said on Monday it would cut the reserve requirement ratio (RRR) by 50 basis points for all banks, taking the ratio to 17% for the biggest lenders. ...
China seeks to assure G20 over economy image
Source : BBC [Read Article] Friday 26th of February 2016 08:25:20 AM
....The slowdown in China's economy has created considerable uncertainty in financial markets and has led to sharp falls in commodity prices. The head of the People's Bank of China, Zhou Xiaochuan, said China's reform direction was clear and unchanged but that the country's pace of reform would vary. ...
Chinese shares slump 6% as Beijing tries to reassure markets ahead of G20 image
Source : Guardian [Read Article] Thursday 25th of February 2016 06:14:58 AM
....Such increases would have to be approved by Premier Li Keqiang at the annual meeting of parliament which begins March 5, he said. Zhu’s comments followed similar remarks earlier in the day at the same conference by the head of the Industrial and Commercial Bank of China (ICBC) Jiang Jianqing, who said there was no market basis for further yuan weakness. ...
Tokyo's stocks recover to close higher image
Source : BBC [Read Article] Monday 22nd of February 2016 01:47:08 AM
....Investors also welcomed a new head of China's securities regulator following recent stock market volatility. Liu Shiyu, former head of the Agricultural Bank of China, will take on the role. ...
China sacks securities regulator image
Source : BBC [Read Article] Saturday 20th of February 2016 07:57:22 AM
.... . Mr Liu, 54, was previously the vice-governor of China's central bank - the People's Bank of China - before becoming chairman of the Agricultural Bank of China, the country's third largest lender, in 2012. ...
China’s top securities regulator replaced after market turmoil image
Source : Telegraph [Read Article] Saturday 20th of February 2016 05:01:43 AM
....  Photo: Bloomberg Finance . Mr Xiao is to be replaced by Liu Shiyu, the chairman of one of the country’s top four banks, the Agriculture Bank of China, Xinhua news agency said. ...
Apple Pay service launches in China image
Source : BBC [Read Article] Thursday 18th of February 2016 02:27:26 AM
.... . Several reports have indicated that as many as 20 China-based lenders will be supporting Apple Pay, including the Industrial and Commercial Bank of China (ICBC). ...
Draghi has financial markets hoping bad news is really good news image
Source : Guardian [Read Article] Monday 15th of February 2016 06:12:08 PM
.... The ECB disappointed in December by not delivering as much extra stimulus as expected, in large part because Draghi ran into resistance from Germany. Even if the ECB does come up with the goods and this is accompanied by more action from the Bank of Japan and the People’s Bank of China, there is no guarantee that it will have any material effect. ...
FTSE 100 closes higher after Asian markets soar as strong yuan eases fears of devaluation  image
China's bank chief defends currency regime as markets poised for another volatile week image
.... . Zhou Xiaochuan, governor of the People’s Bank of China, blamed “speculative forces” for attacking the value of the yuan, insisting that there won’t be further depreciation when trading recommences tomorrow after a week-long holiday. ...
China bank chief blames 'speculators' image
Source : BBC [Read Article] Sunday 14th of February 2016 12:52:34 PM
....In January alone, the reserves plunged by $99. 5bn as the People's Bank of China sold dollars in an effort to shore up the value of the yuan. ...
China's exchange rate trap image
Source : Guardian [Read Article] Tuesday 9th of February 2016 03:26:10 PM
....Alternatively, the renminbi could be allowed to fluctuate more freely. The People’s Bank of China could permit it to depreciate against the reference basket by, say, 1% a month, in order to enhance the competitiveness of Chinese exports and address concerns that the currency is overvalued. ...
China's currency reserves plunge image
Source : BBC [Read Article] Sunday 7th of February 2016 10:53:16 AM
....China's foreign currency reserves plunged by $99. 5bn in January, the People's Bank of China reported. ...
Carney 'too aggressive' on rates threat image
Source : BBC [Read Article] Thursday 4th of February 2016 05:43:32 AM
....The Bank of England is not the only central bank in Mr Rossi's sights. He said that the Federal Reserve (the US central bank), the European Central Bank and the People's Bank of China all had "communication" issues. ...
It’s a Chinese Ponzi scheme that should really scare us image
Source : Telegraph [Read Article] Wednesday 3rd of February 2016 06:14:42 PM
.... That same month, and not before time, the Chinese government acknowledged internet finance for the first time in its 13th five-year plan. This followed attempts by the People's Bank of China to begin regulating the sector. ...
China central bank makes further cash injection ahead of lunar new year image
Source : Guardian [Read Article] Thursday 28th of January 2016 05:49:37 AM
....Related: China accuses George Soros of 'declaring war' on yuan. On Tuesday the People’s Bank of China poured 440bn yuan into the system through regular open market operations, which Bloomberg News said was the biggest in three years. ...
Hysteria over China has become ridiculous image
Source : Telegraph [Read Article] Wednesday 27th of January 2016 08:57:36 PM
.... . Articles are appearing across the world debating whether Mr Soros and his putative wolf pack will succeed in doing to the People's Bank of China (PBOC) what he did to the Bank of England in 1992 - in the latter case with entirely positive consequences. ...
Rush for the exits: why China's capital flight carnage will continue image
Source : Telegraph [Read Article] Tuesday 26th of January 2016 08:43:12 PM
.... As a result, they have taken their money out of the country in anticipation, increasing the demand for other currencies, at the expense of renminbi demand. The People’s Bank of China (PBoC) has had to intervene heavily, burning through reserves to keep the currency strong. ...
Asian shares edge higher as oil price rallies image
Source : Guardian [Read Article] Monday 25th of January 2016 08:09:25 AM
....Other stock markets in Asia also rose on Monday, with Japan’s Nikkei nudging 1% higher and MSCI’s broadest index of Asia-Pacific shares outside Japan up 1. 6%, helped by expectations that global central banks, including the People’s Bank of China, will ease monetary policy further if needed. ...
How China became the global threat everyone saw coming image
Source : Telegraph [Read Article] Saturday 23rd of January 2016 02:00:37 PM
.... . Speaking at Davos last week, Jiang Jianqing, chairman of Industrial and Commercial Bank of China, said the country was “still the locomotive for the world economy, contributing a quarter of world growth”. ...
New 'no spill' cup invented by British engineers saves commuters from burns and stains image
...." . Agentdraw has now sold thousands of Magicups across Asia and the Bank of China has provided all its employees with the smart cup, in a bid to make the workplace safer. ...
Stock market rally peters out amid continued turmoil image
Source : Guardian [Read Article] Thursday 21st of January 2016 03:25:28 AM
.... This included 315bn yuan in open-market operations, a sum was much larger than it provided ahead of the holiday period last year. The move was seen as part of attempts by the People’s Bank of China to keep the financial system ticking over in the wake of increasing capital flight. ...
FTSE closes at three-year low amid global sell-off sparked by oil plunging below $28 a barrel  image
.... . The People's Bank of China (PBOC) said it would start implementing a reserve requirement ratio for some banks involved in the offshore yuan market, in a move that seemed intended to soak up additional liquidity. ...
Oil price dips below $28 to 13-year low as markets brace for Iranian supply image
....“The Chinese yuan has been caught up in a vicious circle than can but lead to further depreciation of the currency,” Nordine Naam, an analyst at brokerage Natixis, said. “Concerns over the extent of the slowdown in Chinese growth risk fuelling capital outflows and in turn a further depreciation of yuan, to which the People’s Bank of China seems resigned,” Naam said, despite attempts by the central bank in the last week to support the currency. ...
Australian shares suffer more pain with Chinese growth expected to dip image
Source : Guardian [Read Article] Sunday 17th of January 2016 07:00:19 PM
....“The Chinese yuan has been caught up in a vicious circle than can but lead to further depreciation of the currency,” Nordine Naam, an analyst at brokerage Natixis, said. “Concerns over the extent of the slowdown in Chinese growth risk fuelling capital outflows and in turn a further depreciation of yuan, to which the People’s Bank of China seems resigned,” Naam said, despite attempts by the central bank in the last week to support the currency. ...
Robots rub up with Davos delegates image
Source : Guardian [Read Article] Sunday 17th of January 2016 09:00:05 AM
....Of course, the global market meltdown, the collapse in the oil price and concerns about Chinese growth will also be on the agenda. The chairman of BP, various bankers including Jiang Jianqing from the Industrial and Commercial Bank of China and economists such as Nouriel Roubini will be in attendance. ...
Asia Pacific shares punished again amid weak China lending and fresh oil slump image
....Futures trading suggested the key European markets would open 20-30 points lower on Friday. The People’s Bank of China (PBOC) set a slightly weaker mid-point rate for the yuan on Friday, but the fix has been broadly steady for more than a week, signalling a determination to hold the line against expectations of sustained depreciation. ...
China sees 'many challenges' in 2016 as trade slumps on weak external demand image
Source : Guardian [Read Article] Wednesday 13th of January 2016 04:22:41 AM
.... The 5% fall in the value of the yuan since last August had helped support exports but the impact would begin to fade, he said. Earlier, the People’s Bank of China held the line on the yuan for a fourth straight session on Wednesday while putting the squeeze on offshore sellers of the currency. ...
Beware the great 2016 financial crisis, warns leading City pessimist image
Source : Guardian [Read Article] Tuesday 12th of January 2016 07:25:08 PM
.... The FTSE 100 index rose by 57 points to close at 5,929, while the Dow Jones Industrial Average was up by 10 points in early trading in New York. The mood in equity markets was helped by intervention by the People’s Bank of China overnight to support the yuan, with the Chinese currency moving higher on foreign exchange markets. ...
Oil price forecast to fall to $20 a barrel, predicts Morgan Stanley image
Source : Guardian [Read Article] Monday 11th of January 2016 06:21:12 PM
....The cost of Brent crude dropped by almost 5% in London business trading, and ended the day just under $32 a barrel - its lowest level since late 2003. Reports from Beijing have suggested that the Peoples’ Bank of China is considering a 15% cut in the value of the yuan in an attempt to reduce the cost of exports and thus boost growth. ...
Chinese stocks tumble again, oil falls and gold rises image
Source : Telegraph [Read Article] Monday 11th of January 2016 07:45:36 AM
.... . On Friday the central People's Bank of China sought to soothe nerves by pledging to carry out "prudent" monetary policy and work to ensure "reasonably abundant liquidity" in the banking system this year. ...
New year nightmare for traders as FTSE suffers worst week since August image
Source : Telegraph [Read Article] Friday 8th of January 2016 07:24:01 PM
.... . The FTSE 100 enjoyed some respite from the new year nightmare in early trade yesterday, after China ditched its circuit breaker mechanism and the People’s Bank of China lifted its guidance rate for the yuan for the first time in nine trading sessions. ...
Why is China's stock market falling? Crisis sparking global financial panic EXPLAINED image
.... But instead of letting market forces take their natural course, Chinese policy makers intervened. The People's Bank of China cut both reserve requirements and interest rates, and pumped extra cash into the markets. ...
Oil price and global stock markets recover as China boosts yuan image
Source : Guardian [Read Article] Friday 8th of January 2016 11:56:47 AM
....16, the lowest since April 2004. Chinese stocks recovered by 2% on Friday after the People’s Bank of China strengthened its official rate for the first time in nine trading days. ...
Markets stabilise after rollercoaster start to 2016  image
Source : Telegraph [Read Article] Friday 8th of January 2016 09:45:33 AM
.... . The People’s Bank of China also lifted its guidance rate for the yuan for the first time in nine trading sessions - after it allowed the currency to fall by its largest amount since August. ...
Chinese shares rise in volatile trade image
Source : BBC [Read Article] Friday 8th of January 2016 03:33:40 AM
...."[The fall in markets] looks to have been exaggerated and driven more by fears and regulatory issues around the share market and currency rather than a renewed deterioration in economic indicators," said Shane Oliver, investment strategist at AMP Capital. The People's Bank of China (PBOC) set the daily yuan rate at 6. ...
China currency war fears wipe $2.6 trillion off global markets in four days image
Source : Telegraph [Read Article] Thursday 7th of January 2016 08:30:37 PM
.... The turmoil was triggered by the Chinese central bank's decision to weaken its exchange rate against the dollar on Thursday morning. The People's Bank of China set its daily fix rate for the renminbi 0. ...
Is China really devaluing its currency? image
Source : Telegraph [Read Article] Thursday 7th of January 2016 12:30:26 PM
.... . The central bank, The People's Bank of China (PBOC), has said its main exchange rate target is against a broader basket of currencies and it's not fixated on the greenback. ...
China share trading halted after market plunges 7% in opening minutes image
Source : Guardian [Read Article] Thursday 7th of January 2016 02:25:34 AM
....That unexpected move sent currencies across the region tumbling, as investors feared the Asian giant was kicking off a virtual trade war against its competitors. The People’s Bank of China set the official midpoint rate on the currency at 6. ...
US stocks hit three month-low as China woes plague investors image
Source : Telegraph [Read Article] Wednesday 6th of January 2016 03:08:18 PM
.... . “The People’s Bank of China has already suspended equity markets, closing them early for the day, injected 130bn yuan into the markets and has now weakened the currency. ...
China freezes out three banks from parts of the currency market  image
Source : Telegraph [Read Article] Wednesday 6th of January 2016 03:01:59 PM
.... . The bank has reportedly asked the People’s Bank of China to shorten the suspension, which is set to run until the end of March. ...
Chinese stocks bounce back as authorities step up intervention image
Source : Telegraph [Read Article] Wednesday 6th of January 2016 07:55:46 AM
.... . Beijing's state-owned financial institutions hoovered up shares and the People's Bank of China also pumped in 130bn yuan ($20bn) into the financial system, its largest single injection of liquidity since September, to quell investor fears after a tumultuous start to 2016 trading. ...
Asia Pacific stock markets extend losses after North Korea nuclear test image
Source : Guardian [Read Article] Wednesday 6th of January 2016 05:25:28 AM
....Policymakers and economists have been hoping that growth in services would offset persistent weakness in Chinese manufacturing and keep the economy from cooling too sharply. As the move to safe haven assets such as the yen and the US dollar continued on Wednesday, markets were also rocked after the People’s Bank of China set the yuan’s midpoint rate at its weakest level in 4-1/2 years. ...
China stock market intervention fuels flight to dollar and yen image
Source : Guardian [Read Article] Tuesday 5th of January 2016 07:48:00 PM
....6bn) injection by the Chinese central bank came after Monday’s crash on the CSI 300 index triggered a “circuit-breaker” mechanism to suspend trading for the day. The People’s Bank of China said officials were studying rules to regulate share sales by major shareholders and senior executives in listed companies, which the regulators believe have fuelled the recent sell-off. ...
China escalates emergency stock market intervention  image
Source : Telegraph [Read Article] Tuesday 5th of January 2016 06:00:46 PM
.... . The People's Bank of China also pumped in 130bn yuan ($20bn) into the financial system, its largest single injection of liquidity since September. ...
Rollercoaster day for European stock markets after worst new year start in 16 years image
.... . The volatility in stock markets comes after the People’s Bank of China injected nearly $20bn into money markets - its largest amount since September. ...
China bolsters markets with $20bn injection and hints at curbs on share sales image
....Beijing’s intervention on Tuesday appeared timed to reassure Chinese retail investors, who are always sensitive to liquidity signals, that the bank would support the market with cash. The People’s Bank of China offered the liquidity in the form of what are known as seven-day reverse repos at an interest rate of 2. ...
Australian share selloff deepens as China seeks to bolster confidence image
Source : Guardian [Read Article] Tuesday 5th of January 2016 12:48:52 AM
....Chinese shares dropped 7% on Monday before trade was suspended, and the gloom spread around the world with New York, London, Paris and Frankfurt all finishing the day sharply down. Markets were braced for more selling on Tuesday and the SSE slipped 3% at the opening of trade before rallying into positive territory on the back of US$19bn cash injection into the money markets by the People’s Bank of China and hints by the securities regulator that it would restrict share sales by large institutions. ...
2016 will be a year of living dangerously for the global economy image
Source : Guardian [Read Article] Sunday 27th of December 2015 01:02:50 PM
....But whereas official interest rates are zero or thereabouts in the major developed countries of the west, in China they are still above 4%. This gives the People’s Bank of China scope to cut the cost of borrowing if it wants to stimulate growth, a scope it will almost certainly use if the government thinks the economy is slowing too rapidly. ...
Apple snubs 'marriage' with Alibaba to launch Apple Pay in China image
Source : Telegraph [Read Article] Friday 18th of December 2015 12:39:14 PM
.... . Bank of China and China Construction Bank are among the 15 banks to sign up to the scheme as part of the UnionPay network, in both urban and rural parts of the country. ...
Fed will have to reverse gears fast if anything goes wrong image
Source : Telegraph [Read Article] Thursday 17th of December 2015 07:58:12 PM
.... . Yet the Fed is taking a big gamble by tightening at a time when the ECB and the People’s Bank of China and a clutch of other central banks are still loosening – and arguably doing so in order to drive down their currencies. ...
Asian stock markets drop as China devaluation, oil and Fed stoke fears image
Source : Guardian [Read Article] Monday 14th of December 2015 04:41:39 AM
....Asian stocks have fallen sharply and the Chinese currency hit fresh four-year lows as concern about crude oil prices and an expected US rate rise by the Federal Reserve later this week kept investors on edge. European markets seemed likely to follow suit after the People’s Bank of China on Monday continued guiding the yuan lower, setting official trading midpoint with the US dollar at its weakest since July 2011. ...

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