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  • April 19, 2014
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  1. Business - Banking & Finance - CURRENCIES

    China and Britain to sign yuan-pound swap deal

    Posted Feb 23rd 2013, 12:00am by Bloomberg

    ... Bloomberg in London China and Britain to sign yuan-pound swap deal The Bank of England and the People's Bank of China plan to sign a deal soon on a three-year currency-swap arrangement as London pushes to become an offshore centre for yuan trading. BOE governor Mervyn King and his PBOC counterpart, Zhou Xiaochuan, met in Beijing yesterday. Both central banks ...

  2. Business - Economy - MR. SHANGKONG

    Forget 'Likonomics', it's all about economic stimulus in China again

    Posted Apr 07th 2014, 04:38am by George Chen

    ... guaranteed 10 trillion yuan in loan expansions to help maintain growth. Much of that went directly from the central bank to various infrastructure projects and local real estate investments. I'm ...

  3. Second interest rate cut in month

    Posted Jul 06th 2012, 12:00am

    ... to a historic low and the Bank of England took steps to further ease credit. While the moves by the three central banks don't appear to have been co-ordinated, they come as economies around ... to 0.75 per cent. Meanwhile, the Bank of England will inject?50 billion (HK$606 billion) into the financial system to haul Britain's economy out of recession. European Central Bank President ...

  4. Business - Banking & Finance - CURRENCIES

    China seeks accord on yuan-sterling swaps with UK

    Posted Mar 08th 2013, 12:00am by Ray Chan

    ... after the People's Bank of China and Bank of England sealed the currency swap agreement. The two central banks have begun talks on the potential establishment of yuan-sterling swaps, which should offer stability and liquidity for the yuan in the offshore market. The Bank of England said last month it would discuss establishing a reciprocal three-year yuan-sterling swap in line ...

  5. Accountants banking on China's rise open an office in Beijing

    Posted Apr 05th 2011, 12:00am

    ... Enoch Yiu The bean-counter industry may well be the professional sector that has benefited the most from China's economic reforms over the past 30 years. The sector's increasing involvement in the mainland is now encouraging international accounting bodies to increase their exposure in the country. The latest is the Institute of Chartered Accountants of England and Wales, ...

  6. Rate cut reflects economic task ahead

    Posted Jul 07th 2012, 12:00am

    ... for the first time, to 0.75 per cent, and the Bank of England said it would inject?50 billion (HK$606 billion) into the financial system to kick-start the British economy. Still, investors seem doubtful ... to keep social unrest at bay. Many economists, though, say this month's action won't be enough, and the central bank will be forced to cut rates at least two more times this year, ...

  7. Business - Banking & Finance

    Amid China market stand off, calls for a more transparent central bank

    Posted Jun 24th 2013, 10:59am by Reuters

    ... Reuters in Beijing PBOC let short-term interest rates spike to extraordinary levels over past week as it refused to inject funds into money markets China’s central bank rarely explains its actions in public and keeps markets guessing on policy, but the angst created by its stand off with banks in the money markets is prompting calls for it to change tack. The People’s Bank of China ...

  8. Business - Comment - MONITOR

    Illuminating confessions from a shadow banker

    Posted May 15th 2013, 12:00am by Tom Holland

    ... from a shadow banker Everyone knows China's shadow banking market is big. According to the ratings agency Moody's, the shadow market was worth 20.5 trillion yuan (HK$25.9 trillion) ... the rapid growth of shadow financing threatens the stability of China's formal banking system, nor whether a crisis in the shadow market could endanger the future development of the Chinese ...

  9. Business - Banking & Finance - DEBT

    Danger lurks in China's shadow banks, says Fitch

    Posted Apr 11th 2013, 12:00am by JANE CAI

    ... Jane Cai in Beijing xuejun.cai@scmp.com Agency warns mainstream lenders are at risk from complex web of dependence on dicey loans Danger lurks in China's shadow banks, says Fitch The mainland's formal banking sector is "significantly exposed" to the shadow banking system, a source of growing risk to the stability in the world's second-largest economy, Fitch Ratings ...

  10. Business - Comment - LAI SEE

    China is like the EU; provinces are its member states

    Posted May 22nd 2013, 12:00am by Howard Winn

    ... to bankers The outgoing governor of the Bank of England, Mervyn King, said we should stop being so hard on bankers for the practices that led to the global financial crisis. In an interview with Sky News, he said: "Don't demonise individuals here. This wasn't a problem of individuals, this was a problem of failure of a system. We collectively allowed the banking system ...




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