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  • November 26, 2014
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  1. Property outlook brightens on PBOC cut

    Posted Jul 07th 2012, 12:00am

    ... that June sales rose 35 per cent month on month from May to 4.54 billion yuan. The PBOC said it was cutting the one-year lending rate by 31 basis points to 6 per cent and the one-year deposit rate ... despite the PBOC's warning. 'In the short term, the housing market will benefit, with both prices and sales rising,' Credit Suisse property analyst Du Jinsong said. Surging house ...

  2. Yuan exchange cap will stay in place, PBOC says

    Posted Jul 01st 2012, 12:00am

    ... and Singapore. Hu said, however, said the PBOC may soon allow non-Hong Kong residents to open accounts for trading yuan in the city, a move local bankers see as a boon for business. Hu detailed ... yuan a month, which is a lot, and many people do not exchange that much,' Hu said. 'As such, the PBOC at present has no plan to lift the cap, though we will review it in the long ...

  3. Ex-PBOC official to advise monetary authority

    Posted Apr 24th 2010, 12:00am by Staff Reporter

    ... Mu Huaipeng, a senior People's Bank of China official, is to leave his post to become an adviser to the Hong Kong Monetary Authority. The authority did not confirm Mu's appointment but said having expert advice on developing Hong Kong's ren ...

  4. PBOC sets demanding terms on yuan trades

    Posted Jul 04th 2009, 12:00am by Denise Tsang

    ... Natalie Chiu and Denise Tsang The mainland central bank announced a set of stringent conditions with many restrictions for implementing cross-border trade settlements in yuan last night, in a move to limit the scale of business at its early stage. The muc ...

  5. PBOC looks at yuan services

    Posted Oct 01st 2005, 12:00am by Staff Reporter

    ... Maria Chan People's Bank of China governor Zhou Xiaochuan says the central bank has been studying the possible expansion of yuan services offered by Hong Kong banks. 'The implementation of yuan services in Hong Kong has been smooth since its int ...

  6. Business - Banking & Finance - FINANCE

    Like Bank of China, Citic Bank also offers service branded 'money laundering' by CCTV

    Posted Jul 09th 2014, 03:58pm by DON WEINLAND, George Chen

    ... after they got approval from the Guangzhou branch of the People's Bank of China. So the PBOC definitely knows what the business is about," said the source, who declined to be named ... the facts" and had a "biased understanding" of Youhuitong. On the sidelines of the Sino-US strategic and economic dialogue in Beijing yesterday, PBOC Governor Zhou Xiaochuan said ...

  7. Forex loss bigger than Olympic bill

    Posted Jan 25th 2008, 12:00am by Tom Holland

    ... mainland monetary policy-making. But that's not the only problem it poses for China's central bankers. After the Fed's latest reduction the PBOC is losing money heavily. That is because it is now paying a higher rate of interest on the money it borrows at home than it earns on the foreign currency bonds it buys with the proceeds. The PBOC's difficulty arises because, ...

  8. Second interest rate cut in month

    Posted Jul 06th 2012, 12:00am

    ... for one-year deposits will fall by 25 basis points to 3 per cent. The cuts are effective today. Earlier this month, the PBOC cut rates for the first time since 2008 to spur a flagging economy. Both ... Raymond Yeung, an economist at ANZ Bank, adding that the PBOC 'could still have room to lower rates further if it keeps inflation in check'. The PBOC's cut adds to fears ...

  9. Central bank sets two key targets for calming economy

    Posted Feb 12th 2004, 12:00am by Staff Reporter

    ... the exchange rate prevented the PBOC from maintaining strict control over the economy. 'Without a removal of the straitjacket imposed by an undervalued exchange rate, we believe it will be extremely difficult for the PBOC to engineer a genuine monetary tightening cycle,' she said. She noted that the PBOC announced a 16 per cent M2 growth target at the beginning of last year, only ...

  10. Confusion over start to offshore yuan scheme

    Posted Aug 03rd 2011, 12:00am

    ... of China (PBOC) had stopped approving offshore yuan borrowing by domestic companies in compliance with Beijing's monetary tightening measures. But PBOC and the Hong Kong Monetary Authority ... director of a monetary policy department at the PBOC, who told a finance forum in Shanghai in May that the central bank would review applications for offshore yuan borrowing 'case ...




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