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  1. Business - Economy - MARKETS

    Yuan strengthens to highest level against US dollar in 19 years

    Posted Mar 26th 2013, 12:00am by Bloomberg

    ... at 6.2107 per US dollar in Shanghai. The Chinese currency traded at a 0.95 per cent premium to the reference rate, near the 1 per cent limit allowed by the PBOC. Meanwhile, the mainland swap market ... rate to rise. The swap had been lower than the one-year PBOC deposit rate for 16 months. Of 27 economists surveyed this month, 13 predicted higher rates this year, with Credit Agricole, Daiwa ...

  2. News - China - FINANCE

    Wealth management industry distorting economy and needs reform, PBOC official says

    Posted May 11th 2014, 05:25am by Reuters

    ... Reuters in Beijing Industry needs reform as it drives up lending cost and invites gambling, deputy governor says PBOC officialfires warning towealth managers The wealth-management industry ... of the People's Bank of China (PBOC) said yesterday. In an unusually sharp criticism of the rapidly growing wealth-management business, Liu Shiyu said the sector had pushed up funding costs for companies, ...

  3. Business - Economy - ECONOMY

    PBOC vice-governor Yi Gang suggests Tobin tax on foreign exchange

    Posted Jan 05th 2014, 05:15am by AFP

    ... exchange management," he went on. In addition to heading SAFE, which regulates China's foreign exchange system, Yi is also a vice-governor of the People's Bank of China (PBOC ... told China Daily that a Tobin tax would work as a market-oriented way to cut down foreign exchange speculation in lieu of the country's present system in which the PBOC gives approval ...

  4. News - China - BANKING

    PBOC branch put under siege after free loan rumour

    Posted Jul 10th 2013, 01:58pm by Patrick Boehler

    ... Patrick Boehler patrick.boehler@scmp.com Armed police called in as hundreds react to false report that bank was offering interest-free loans PBOC branch put under siege after free loan ... it said "criminals" had spread rumours that the PBOC would grant interest-free and subsidised loans to anyone who could show a credit report. The People's Bank of China ...

  5. News - Hong Kong - VIRTUAL CURRENCY

    Bitcoin exchanges have struggled to survive on mainland

    Posted Jun 24th 2014, 04:01pm by DANNY LEE

    ... not buy bitcoin" and warned price volatility would continue for a decade as the currency tried to grow on a stable footing. A crackdown by the PBOC has resulted in Hong Kong emerging ...

  6. News - China

    Banks will have bigger say in setting interest rates

    Posted Nov 09th 2012, 12:00am by JANE CAI

    ... China's banks will play a larger role in setting their own interest rates, top bankers said yesterday on the sidelines of the 18th party congress. The move is likely to intensify competition and, possibly squeeze bank profit margins. Liu Shiyu, vice- ...

  7. Business - Banking & Finance - VIRTUAL CURRENCY

    Chinese bitcoin firms plan to go offshore to sidestep crackdown

    Posted May 12th 2014, 11:42am by DANNY LEE

    ... Caixin's website said the PBOC had ordered banks and payment companies to close accounts used to transfer money to bitcoin trading accounts. Since then, China's biggest banks have severed ties ...

  8. News - China - FINANCE SYSTEM

    Markets keen to know names of men who will be in charge of economy

    Posted Nov 16th 2012, 12:00am by Daniel Ren

    ... are all contenders to fill Zhou's shoes at the PBOC. The next central bank governor will be expected to take new steps in liberalising the interest rate mechanism, letting market forces ...

  9. News - China

    Central bank governor left out of key policymaking group

    Posted Nov 15th 2012, 12:00am by WIRE

    ... at the PBOC declined to comment when asked about the decision. Market analysts have long thought that Zhou was likely to leave the PBOC in any reshuffle of top economic posts prompted by a change ... of any change at the top of the central bank, market talk centred on the elevation of three men - regarded by analysts as possible PBOC chiefs - to the committee Zhou is leaving. Financial sector ...

  10. News - Hong Kong

    Macau gambling revenue up 21.1pc in June year on year

    Posted Jul 01st 2013, 06:44pm by Reuters

    ... continues to show solid growth. In the last two weeks of June, the People’s Bank of China (PBOC) allowed money market conditions to tighten and rates to soar, sparking fears of a credit crunch that roiled local and international markets. Macau stocks plunged along with the broader Hang Seng Index which has fallen 6.7 per cent for the quarter. The PBOC has since moved to quell fears ...




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