Thursday’s sale was the third since anti-government protests that started in Hong Kong in June aroused concerns over the city’s economic future and its status as a magnet for international capital. Photo: Kyodo
China sells 10 billion yuan of bills in Hong Kong to protect currency ahead of National Day, US trade war talks
- The People’s Bank of China’s auctioned 10 billion yuan (US$1.4 billion) of six-month bills in the embattled city on Thursday
- It comes ahead of the October 1 holiday which will celebrate the 70th anniversary of the founding of the People’s Republic as well as next month’s talks in Washington
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Yuan
Thursday’s sale was the third since anti-government protests that started in Hong Kong in June aroused concerns over the city’s economic future and its status as a magnet for international capital. Photo: Kyodo
People's Bank of China Governor Yi Gang spoke at a press conference looking at China's economic development ahead of the 70th anniversary of the founding of the People’s Republic. Photo: Reuters
China in no rush to follow global interest rate cuts, central bank governor says
- People’s Bank of China (PBOC) chief Yi Gang says Chinese economic conditions are in a ‘reasonable range’ meaning there is no need for major interest rate cuts
- The central bank has cut the reserve ratio requirement three times this year but growth has continued to slow
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China economy
People's Bank of China Governor Yi Gang spoke at a press conference looking at China's economic development ahead of the 70th anniversary of the founding of the People’s Republic. Photo: Reuters