April has been a busy month for the Hualin International Jewelry Market in Guangzhou. A scrum of eager buyers has descended upon the venue, looking to join a new gold rush as prices soar and the precious metal takes on new life as a vehicle...
China watchers calling for Beijing to loosen its grip on the besieged yuan need to be mindful of the risk that it unleashes a chain reaction rocking emerging- and developed-market currencies alike, according to some strategists.Most under threat are the currencies of Asian neighbours such...
The refinancing will cover 60 per cent of the principal for qualifying loans to tech-based small and medium-sized enterprises, and can be extended twice for an additional year each time, the central bank said in an online statement.“[The loans] will guide financial institutions to provide...
China’s pre-owned homes market is showing signs of recovery, based on data for the first two months of 2024, amid continued efforts by authorities to ease purchase restrictions to arrest a prolonged nationwide property slump.Sales of second-hand homes in 25 major cities across the country...
China’s 461-trillion-yuan (US$63.7 trillion) financial industry and its regulatory regime will be heavily prioritised in a broad economic reshuffle engendered by the country’s top leadership, with the sector remoulded to serve national objectives like sustainable growth and advancement in the global tech race.The Central Financial...
China Construction Bank (CCB) expects Beijing to introduce more policy support to bolster the economy, even as the nation’s major state-owned lenders continue to face pressure to boost profits amid the prospect of benchmark rates decreasing further.“China’s economy is showing signs of recovery, but there...
China’s property developers recorded another set of dismal operating results as new home sales tumbled for a 10th straight month, suggesting it would be premature to expect a turnaround in a three-year slump in the industry.Sales at the nation’s 100 biggest home builders tumbled 46...
“Everyone, from the top brass to people like us in middle ranks, earn less than before,” said a credit manager with Bank of China, one of the country’s “big four” state-owned banks, lamenting the loss of the staggering bonuses that she used to bag in...
Despite instructions from President Xi Jinping to resume the trading of central government bonds, China’s central bank is expected to take a cautious approach to mitigate unexpected consequences for inflation and the exchange rate, analysts said.At the twice-a-decade financial work conference, held last October, Xi...
Bank of Communications (Bocom), one of China’s top state-owned lenders, delivered a cautiously optimistic outlook for its business and the country’s economy even as it posted its slowest earnings growth since at least 2004.Net profit at the Shanghai-based bank rose 0.7 per cent to 92.7...