Baoshang Bank is now under the control of the China Construction Bank. Photo: Reuters
China’s troubled banks ‘engaged in blind expansion’ but financial stability remains solid, says central bank chief
- People’s Bank of China governor Yi Gang addressed plans for bailing out regional banks for the first time after three crisis in the last five months
- Problems at Baoshang Bank, Jinzhou Bank and Hengfeng Bank renewed concerns about the financial health of Chinese small banks
Topic |
China economy
Baoshang Bank is now under the control of the China Construction Bank. Photo: Reuters
Governor of the People's Bank of China (PBOC) Yi Gang poured cold water on prospects of an imminent launch of Beijing’s own digital currency. Photo: REUTERS
China has ‘no timetable’ for launch of its digital currency, says central bank governor
- People’s Bank of China head Yi Gang says a series of regulatory issues need to be addressed before Beijing can issue sovereign digital currency
- China is the first major economy to explore launching its own digital currency
Topic |
China economy
Governor of the People's Bank of China (PBOC) Yi Gang poured cold water on prospects of an imminent launch of Beijing’s own digital currency. Photo: REUTERS