Exporters in Zhejiang and Guangdong provinces said payments from Russia can still be received in yuan through BOC, albeit delayed, after they were told to switch to the Chinese currency this year.“We were notified that we must change to the yuan, and now each and...
As of the end of last year, UBS had attracted a net US$77 billion of new money globally since the two banks officially merged on June 12. That was much higher than the first five months of 2023, when Credit Suisse saw an outflow of...
China has appointed Wu Qing – a capital markets veteran – to head the nation’s securities watchdog, an appointment that will place a cumulative US$11 trillion in value under his supervision as one of several measures laid down by Beijing to blunt a downturn.Wu, who...
Beijing’s financial authorities will double down for their support of Hong Kong as China’s global financial centre, opening the doors for more bonds and green financing instruments to be issued and traded in the city, the bank regulator said.The mainland branches of banks domiciled in...