China's central bank pledges continued opening-up of financial industry
4 years, 4 months ago

China's central bank pledges continued opening-up of financial industry

China Daily  

The People's Bank of China, the central bank, said on Aug 3 that it will resolutely push forward the opening-up of the country's financial industry in a sound and orderly manner. It will promote a full implementation of the foreign investment administration model of pre-establishment national treatment plus negative list, advance the internationalization of the renminbi and capital account convertibility in a proactive and sound manner, and unify the foreign exchange management policies applied in the opening-up of China's bond market. Noting that its policies in the first half of the year facilitated a speedy recovery of the national economy amid COVID-19, the PBOC said it will pursue a more flexible and appropriate monetary policy, making it more targeted, and effectively implement policies aimed at helping enterprises tide over difficulties and ensuring employment in the second half. The central bank also pledged to use a variety of monetary-policy tools to enable M2 money supply and aggregate financing to grow at notably higher rates than last year, while promoting a substantial growth in the inclusive loans to small and micro businesses and medium- and long-term loans to the manufacturing industry.

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History of this topic

PBOC pledges more monetary policy support
1 month, 1 week ago

PBOC pledges more monetary policy support

China Daily  

China's central bank confirmed on Monday the continuation of its supportive monetary policy stance, a move that analysts said has reinforced expectations of another cut in the reserve requirement ratio to accommodate additional government bond issuance. Feng Jianlin, chief economist at Beijing FOST Economic Consulting Co, said the central bank may soon coordinate with the 2 trillion yuan in bond …

PBOC pledges more monetary policy support
1 month, 1 week ago

PBOC pledges more monetary policy support

China Daily  

Headquarters of the People's Bank of China, the central bank, is pictured in Beijing, China. China's central bank confirmed on Monday the continuation of its supportive monetary policy stance, a move that analysts said has reinforced expectations of another cut in the reserve requirement ratio to accommodate additional government bond issuance. Feng Jianlin, chief economist at Beijing FOST Economic Consulting …

Financial regulators reiterate opening-up, enhancing contacts with market
1 month, 2 weeks ago

Financial regulators reiterate opening-up, enhancing contacts with market

China Daily  

Headquarters of the People's Bank of China, the central bank, is pictured in Beijing, China. China's financial regulators have reiterated their opening-up commitment and vowed to enhance communication with the market, highlighting Chinese policymakers' strengthened emphasis on consolidating capital market investor confidence amid elevated external uncertainties. The People's Bank of China, the country's central bank, held a meeting on the …

China to steadily push forward financial opening-up: central bank
Trending News
1 month, 2 weeks ago

China to steadily push forward financial opening-up: central bank

China Daily  

Xinhua | Updated: 2024-11-07 17:00 Headquarters of the People's Bank of China, the central bank, is pictured in Beijing, China. BEIJING - China will steadily promote institutional opening-up of the financial service sector and the financial market, and expand connectivity between domestic and overseas financial markets, according to the central bank. China will continue to implement a supportive monetary policy, …

China to steadily push forward financial opening-up: central bank
Top News
1 month, 2 weeks ago

China to steadily push forward financial opening-up: central bank

China Daily  

Headquarters of the People's Bank of China, the central bank, is pictured in Beijing, China. BEIJING - China will steadily promote institutional opening-up of the financial service sector and the financial market, and expand connectivity between domestic and overseas financial markets, according to the central bank. China will continue to implement a supportive monetary policy, improve the quality and efficiency …

PBOC hints at further cuts in the reserve requirement ratio
3 months, 2 weeks ago

PBOC hints at further cuts in the reserve requirement ratio

China Daily  

The financial district of Pudong New Area. China will intensify counter-cyclical monetary measures at the aggregate level, central bank officials said on Thursday, implying room for further reductions in the reserve requirement ratio. Zou Lan, head of the Monetary Policy Department of the People's Bank of China, the country's central bank, said that the current average RRR of financial institutions …

Economy to get greater financial policy support
5 months ago

Economy to get greater financial policy support

China Daily  

Headquarters of the People's Bank of China, the central bank, is pictured in Beijing, China. China cut key interest rate benchmarks on Monday, demonstrating policymakers' strong commitment to strengthening macroeconomic policy support and putting into effect the measures outlined last week at a key meeting of the central leadership of the Communist Party of China, economists and analysts said. With …

China’s Central Bank to add temporary repos depending on market conditions
5 months, 2 weeks ago

China’s Central Bank to add temporary repos depending on market conditions

Hindustan Times  

China’s central bank will conduct temporary bond repurchase or reverse repurchase operations in the afternoon, in addition to its traditional morning operations, tightening its control over short-term interest rates. The People’s Bank of China said it will conduct such operations “depending on the market situation” between 4 p.m. and 4:20 p.m. each working day, according to a statement on Monday. …

Fast forward on the path to digital RMB in globalized and networked era
6 months, 3 weeks ago

Fast forward on the path to digital RMB in globalized and networked era

China Daily  

A staff member demonstrates the payment with China's digital yuan, or the e-CNY, during the first Global Digital Trade Expo in Hangzhou, East China's Zhejiang province, Dec 12, 2022. The issuance and circulation of digital currencies, especially sovereign digital currencies authorized by central banks, will profoundly change the existing international monetary, clearing and settlement, and financial systems. As a digital …

PBOC may up bond trading
7 months, 4 weeks ago

PBOC may up bond trading

China Daily  

A pedestrian walks past the headquarters of the PBOC in Beijing. JIANG QIMING/CHINA NEWS SERVICE China's central bank will likely increase the trading of government bonds as a liquidity management tool, yet such a move should not be misunderstood as quantitative easing, officials and experts said. Financial News, a newspaper backed by the People's Bank of China, the country's central …

China's economic recovery gets off to a great start this year
8 months ago

China's economic recovery gets off to a great start this year

China Daily  

A woman shows banknotes and coins included in the 2019 edition of the fifth series of the renminbi. China's economic recovery has gotten off to a good start this year, laying a solid foundation for achieving annual economic targets, said Pan Gongsheng, governor of the People's Bank of China, the country's central bank. Addressing the 49th meeting of the International …

PBOC unveils relending facility for tech innovation, transformation
8 months, 2 weeks ago

PBOC unveils relending facility for tech innovation, transformation

China Daily  

A staff member works on the production line of a semiconductor production company in Yangxin county, Binzhou city, East China's Shandong province on April 1, 2024. The People's Bank of China has established a relending facility to support technological innovation and transformation, showcasing the central bank's commitment to providing accurate and effective support for the real economy. The new facility …

China's central bank to enhance implementation of monetary policies
8 months, 3 weeks ago

China's central bank to enhance implementation of monetary policies

China Daily  

Headquarters of the People's Bank of China, the central bank, is pictured in Beijing. BEIJING -- China's central bank on Wednesday pledged efforts to enhance the implementation of a slew of monetary policies -- in order to effectively stimulate the economy. The bank will appropriately increase the relending and rediscount quota for small enterprises and the agriculture sector, make good …

Central bank committed to prudence
8 months, 3 weeks ago

Central bank committed to prudence

China Daily  

Headquarters of the People's Bank of China, the central bank, is pictured in Beijing. China's central bank may regard treasury bond trading in the secondary market as one of the common means to provide liquidity — a practice that hasn't been active for about two decades and a meaningful means to optimize its monetary policy system, experts said. Discussions of …

Bond comments by China’s Xi hint at possible expansion of PBOC toolkit
8 months, 3 weeks ago

Bond comments by China’s Xi hint at possible expansion of PBOC toolkit

Live Mint  

A months-old speech by China’s top leader has stoked speculation around aggressive liquidity boosts from Beijing. While economists have generally shrugged off such a possibility, some say that more trading of treasury bonds could bring the country’s central bank more in line with practices adopted by peers in developed markets. Economists say U.S.-style “quantitative easing," in which a central bank …

Beijing steps up efforts to enhance payment systems for foreigners
8 months, 3 weeks ago

Beijing steps up efforts to enhance payment systems for foreigners

China Daily  

Chinese capital Beijing is expected to step up efforts to enhance payment services for foreigners in China, as part of the country's broader endeavors to improve the business climate and expand high-level opening-up. In a meeting held on Thursday, government officials from the People's Bank of China, the country's central bank, and the city, as well as executives from branches …

PBOC urges Shanghai financial institutions to improve foreign payment services
9 months, 1 week ago

PBOC urges Shanghai financial institutions to improve foreign payment services

China Daily  

The People's Bank of China, the country's central bank, has urged financial institutions in Shanghai to further intensify efforts to improve payment services for foreign visitors with relevant efforts having already reaped positive progress. In a meeting with financial institutions in Shanghai on Friday, the PBOC called on them to accelerate efforts and amplify resource input to achieve more progress …

PBOC sets goals to support economic growth, development
11 months, 2 weeks ago

PBOC sets goals to support economic growth, development

China Daily  

Headquarters of the People's Bank of China, the central bank, is pictured in Beijing. China's central bank will work to sustain buoyant financing activity while expanding financial opening-up this year as part of its efforts to effectively support economic growth and high-quality development. The People's Bank of China, the country's central bank, said on Friday that it will focus on …

PBOC to maintain reasonable, ample liquidity
1 year, 4 months ago

PBOC to maintain reasonable, ample liquidity

China Daily  

A pedestrian walks past the headquarters of the PBOC in Beijing. JIANG QIMING/CHINA NEWS SERVICE China's central bank said on Thursday it will comprehensively utilize various monetary policy tools, maintain reasonable and ample liquidity and ensure moderate and steady growth of money supply and credit. And it will also flexibly conduct open market operations, keep liquidity in the banking system …

China's central bank pledges further support for private enterprises
1 year, 4 months ago

China's central bank pledges further support for private enterprises

China Daily  

File photo shows an exterior view of the People's Bank of China in Beijing. BEIJING -- The People's Bank of China, the central bank, has pledged to increase financial support for the country's private enterprises. The PBOC will strengthen coordination between financial, fiscal and industrial policies, and will guide more financial resources into the private economy, said Pan Gongsheng, the …

China's central bank pledges further support for private enterprises
1 year, 4 months ago

China's central bank pledges further support for private enterprises

China Daily  

File photo shows an exterior view of the People's Bank of China in Beijing. BEIJING -- The People's Bank of China, the central bank, has pledged to increase financial support for the country's private enterprises. The PBOC will strengthen coordination between financial, fiscal and industrial policies, and will guide more financial resources into the private economy, said Pan Gongsheng, the …

PBOC cuts rates to boost growth
1 year, 6 months ago

PBOC cuts rates to boost growth

China Daily  

File photo shows an exterior view of the People's Bank of China in Beijing. Move comes amid stepped-up efforts to consolidate recovery, hike confidence China's central bank cut its short-term lending rate, the first such move since August 2022, as the country stepped up measures to consolidate economic recovery and restore market confidence amid downward pressure, analysts said on Tuesday. …

PBOC cuts rates to boost growth
1 year, 6 months ago

PBOC cuts rates to boost growth

China Daily  

Move comes amid stepped-up efforts to consolidate recovery, hike confidence China's central bank cut its short-term lending rate, the first such move since August 2022, as the country stepped up measures to consolidate economic recovery and restore market confidence amid downward pressure, analysts said on Tuesday. Thanks to Tuesday's policy interest rate cut, the country's key benchmark lending rates for …

Sibos 2024 financial services forum to be held in Beijing
1 year, 8 months ago

Sibos 2024 financial services forum to be held in Beijing

China Daily  

A view of Beijing's CBD area on Aug 19, 2022. BEIJING -- Beijing will play host city to the Swift International Banker's Operation Seminar financial services forum in 2024, according to a joint announcement from Beijing authorities and the Society for Worldwide Interbank Financial Telecommunication. The Beijing Municipal Bureau of Local Financial Regulation and Supervision said the forum's presence in …

Regulation key to boosting digital finance
1 year, 8 months ago

Regulation key to boosting digital finance

China Daily  

A staff member demonstrates the payment with China's digital yuan, or the e-CNY, during the first Global Digital Trade Expo in Hangzhou, East China's Zhejiang province, Dec 12, 2022. Officials and experts attending the Boao Forum for Asia Annual Conference 2023 called for enhanced financial regulation to fend off potential risks and boost innovation in the finance sector in the …

Central bank digital currency simplest fix for banking
1 year, 8 months ago

Central bank digital currency simplest fix for banking

China Daily  

Last year, the Nobel Prize in Economics went to two economists who study the dynamics of bank runs, as well as to former US Federal Reserve chair Ben Bernanke for his work analyzing how central banks have dealt with some of history's worst banking crises, such as those in the Great Depression of the 1930s. A country's monetary authority could …

CBDC is the UPI Moment for Fintechs: Rise of CBDC and Death of Crypto - News18
2 years ago

CBDC is the UPI Moment for Fintechs: Rise of CBDC and Death of Crypto - News18

News 18  

The fall of fraudulent and failing crypto exchanges is coinciding with the rise of CBDC across the world. CBDC, when programmed to be part of a smart contract, will reduce these layers of paper contracts and checks thus reducing the cost of trade or transactions both local and international. The promise of lower cost and reducing the global banks hegemony …

PBOC steps up support for real economy
2 years, 7 months ago

PBOC steps up support for real economy

China Daily  

China is expected to deepen deposit rate reforms to lower corporate financing costs as part of the central bank's well-calibrated efforts to strike a balance between stabilizing economic growth and sheltering from the risk of capital outflows, economic experts said on Tuesday. They gave the remarks after the People's Bank of China, the country's central bank, said it had guided …

PBOC steps up support for real economy
2 years, 7 months ago

PBOC steps up support for real economy

China Daily  

China is expected to deepen deposit rate reforms to lower corporate financing costs as part of the central bank's well-calibrated efforts to strike a balance between stabilizing economic growth and sheltering from the risk of capital outflows, economic experts said on Tuesday. They gave the remarks after the People's Bank of China, the country's central bank, said it had guided …

PBOC steps up support for real economy
2 years, 7 months ago

PBOC steps up support for real economy

China Daily  

China is expected to deepen deposit rate reforms to lower corporate financing costs as part of the central bank's well-calibrated efforts to strike a balance between stabilizing economic growth and sheltering from the risk of capital outflows, economic experts said on Tuesday. They gave the remarks after the People's Bank of China, the country's central bank, said it had guided …

Gains from new financial standards plan foreseen
2 years, 10 months ago

Gains from new financial standards plan foreseen

China Daily  

A new plan to advance standardization in the financial sector during the 14th Five-Year Plan period will facilitate the high-quality development of China's financial services industry. A new plan to advance standardization in the financial sector during the 14th Five-Year Plan period will facilitate the high-quality development of China's financial services industry and help improve the development efficiency of the …

China central bank launches digital yuan wallet apps for Android, iOS
2 years, 11 months ago

China central bank launches digital yuan wallet apps for Android, iOS

The Hindu  

China has released pilot versions of its digital yuan wallet application on mobile phone app stores as the country's central bank steps up its push to develop its own digital currency. The "e-CNY " app, developed by the People's Bank of China's digital currency research institute, was available for download on Chinese Android and Apple app stores on Tuesday in …

PBOC may have to juice China’s economy as ‘stagflation’ risk rises
3 years, 1 month ago

PBOC may have to juice China’s economy as ‘stagflation’ risk rises

CNN  

Hong Kong CNN Business — A Chinese central official has warned that stagflation could weigh on an already struggling economy next year. Liu Shijin, a member of the People’s Bank of China’s monetary policy committee, told an online forum on Sunday that the world’s second largest economy may have to deal with “quasi-stagflation” the rest of this year and into …

$9.5 billion spent using Chinese central bank's digital currency
3 years, 1 month ago

$9.5 billion spent using Chinese central bank's digital currency

The Hindu  

Some 140 million people had opened "wallets" for China's new digital yuan as of October and used it for transactions totalling around 62 billion yuan, a senior Chinese central bank official said on Wednesday. However, Mu Changchun, the director-general of the digital currency institute of the People's Bank of China, told HongKong's "Fintech Week" conference there was no official launch …

Controversies on Trials of Digital RMB by China’s Central Bank: Policy Options (No.240, 2021)
3 years, 1 month ago

Controversies on Trials of Digital RMB by China’s Central Bank: Policy Options (No.240, 2021)

China Daily  

Controversies on Trials of Digital RMB by China’s Central Bank: Policy Options 2021-10-29 By Chen Daofu & Zhang Jiaming, Research Institute of Finance, DRC Research Report, No.240, 2021 2021-9-2 Abstract: The pilot research and development of digital currency made by China’s central bank, the People’s Bank of China，is among the top list of the world, the performance of which has …

PBOC to cut reserve ratio, add liquidity
3 years, 5 months ago

PBOC to cut reserve ratio, add liquidity

China Daily  

The People's Bank of China in Beijing. China's central bank announced on Friday it would reduce the cash financial institutions are required to keep in reserve and release about 1 trillion yuan of liquidity effective on Thursday, an expected measure undertaken to better support the real economy and keep corporate financing costs at a low level. The People's Bank of …

PBOC to cut reserve ratio, add liquidity
3 years, 5 months ago

PBOC to cut reserve ratio, add liquidity

China Daily  

The People's Bank of China in Beijing. China's central bank announced on Friday it would reduce the cash financial institutions are required to keep in reserve and release about 1 trillion yuan of liquidity effective on Thursday, an expected measure undertaken to better support the real economy and keep corporate financing costs at a low level. The People's Bank of …

Central bank pledges flexible, precise implementation of monetary policy
3 years, 5 months ago

Central bank pledges flexible, precise implementation of monetary policy

China Daily  

China will implement its monetary policy in a flexible and precise way and strike a balance between economic recovery and risk prevention, the central bank has said. In a statement released after a quarterly meeting of its monetary policy committee, the People's Bank of China has pledged efforts to keep the economy running within an appropriate range and ensure that …

Central bank targets exchange rate stability
3 years, 6 months ago

Central bank targets exchange rate stability

China Daily  

The People's Bank of China aims to keep the RMB exchange rate stable against major currencies amid China's post-pandemic recovery. ZHANG XINGLONG/CHINA NEWS SERVICE Wide range of options open to the PBOC, market players say The central bank is determined to keep the RMB exchange rate stable against a basket of major currencies amid China's post-pandemic recovery, according to economists. …

Central bank targets exchange rate stability
3 years, 6 months ago

Central bank targets exchange rate stability

China Daily  

The People's Bank of China aims to keep the RMB exchange rate stable against major currencies amid China's post-pandemic recovery. ZHANG XINGLONG/CHINA NEWS SERVICE Wide range of options open to the PBOC, market players say The central bank is determined to keep the RMB exchange rate stable against a basket of major currencies amid China's post-pandemic recovery, according to economists. …

Central bank targets exchange rate stability
3 years, 6 months ago

Central bank targets exchange rate stability

China Daily  

The People's Bank of China aims to keep the RMB exchange rate stable against major currencies amid China's post-pandemic recovery. ZHANG XINGLONG/CHINA NEWS SERVICE Wide range of options open to the PBOC, market players say The central bank is determined to keep the RMB exchange rate stable against a basket of major currencies amid China's post-pandemic recovery, according to economists. …

Central bank to expand trials of digital RMB
3 years, 6 months ago

Central bank to expand trials of digital RMB

China Daily  

Visitors at the booth of Digital Currency Institute of the People's Bank of China during the China International Fair for Trade in Services on Sept 6. ZHAN MIN/FOR CHINA DAILY Analysts predict that China's e-currency could be in circulation as early as 2022 China's monetary authorities will designate more payment service institutions to develop digital RMB electronic wallets with complicated …

Central bank targets exchange rate stability
3 years, 6 months ago

Central bank targets exchange rate stability

China Daily  

The People's Bank of China aims to keep the RMB exchange rate stable against major currencies amid China's post-pandemic recovery. ZHANG XINGLONG/CHINA NEWS SERVICE Wide range of options open to the PBOC, market players say The central bank is determined to keep the RMB exchange rate stable against a basket of major currencies amid China's post-pandemic recovery, according to economists. …

Central bank targets exchange rate stability
3 years, 6 months ago

Central bank targets exchange rate stability

China Daily  

The People's Bank of China aims to keep the RMB exchange rate stable against major currencies amid China's post-pandemic recovery. ZHANG XINGLONG/CHINA NEWS SERVICE Wide range of options open to the PBOC, market players say The central bank is determined to keep the RMB exchange rate stable against a basket of major currencies amid China's post-pandemic recovery, according to economists. …

PBOC reiterates proactive monetary policy stance
3 years, 7 months ago

PBOC reiterates proactive monetary policy stance

China Daily  

A teller helps a client with his deposit business at a bank branch in Nantong, Jiangsu province. Efforts will also be made to continuously improve the market-oriented interest rate system and the monetary policy transformation mechanism along with other steps like optimizing the deposit rate regulations and further lowering the lending rates, the report said. The central bank has said …

China digital currency trials show threat to Alipay
3 years, 7 months ago

China digital currency trials show threat to Alipay

The Hindu  

In China's commercial hub Shanghai, six big state banks are quietly promoting digital yuan ahead of a May 5 shopping festival, carrying out a political mandate to provide consumers with a payment alternative to Alipay and WeChat Pay. "People will realise that digital yuan payment is so convenient that I don't have to rely on Alipay or WeChat Pay anymore," …

Japan's central bank kicks off experiments on issuing digital currency
3 years, 8 months ago

Japan's central bank kicks off experiments on issuing digital currency

The Hindu  

The Bank of Japan began experiments on Monday to study the feasibility of issuing its own digital currency, joining efforts by other central banks that are aiming to match the innovation in the field achieved by the private sector. The first phase of experiments, to be carried out until March 2022, will focus on testing the technical feasibility of issuing, …

The Hindu Explains | How does China’s digital currency work?
3 years, 8 months ago

The Hindu Explains | How does China’s digital currency work?

The Hindu  

The story so far: China in February launched the latest round of pilot trials of its new digital currency, with reported plans of a major roll-out by the end of the year and ahead of the Winter Olympics in Beijing in February 2022. Officially titled the Digital Currency Electronic Payment, the digital RMB is, as its name suggests, a digital …

China to toughen supervision of non-bank payment institutions
3 years, 11 months ago

China to toughen supervision of non-bank payment institutions

China Daily  

China's central bank has released a draft for comments of regulations aimed at strengthening anti-monopoly supervision of payment services by non-bank institutions. If a non-bank payment institution meets certain conditions in terms of market share, the People's Bank of China can provide early warning of a range of measures, including regulatory interviews, according to the draft. If non-bank payment institutions …

PBOC promises sound financial environment
4 years ago

PBOC promises sound financial environment

China Daily  

A teller explains cash deposit procedures to a customer at a bank in Lianyungang, Jiangsu province. WANG CHUN/FOR CHINA DAILY Market-oriented reform of interest and exchange rates to deepen next year China will maintain a prudent monetary policy, which is flexible, precise, reasonable and moderate next year, while providing financial support in key areas and preventing financial risks, according to …

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