China ups efforts to better meet payment needs of foreigners, elderly2024-03-09
China on Thursday released a guideline aimed at continuing to optimize payment services of bank cards, promoting cash use and facilitating mobile payment as part of the efforts to better fulfill the diverse payment preferences of foreigners and senior citizens in the country.
Big LPR cut lifts hopes of homebuyers2024-02-22
The 25-basis-point cut to over-five-year loan prime rate to 3.95 percent on Tuesday is good news for mortgages, and will help commercial banks to lower interest rates on first-home loans and guide more capital to private and small enterprises, industry experts said on Wednesday.
Key rate cut seen as move to prop up realty2024-02-21
China implemented the biggest-ever cut to a mortgage rate benchmark on Tuesday, indicating policymakers' dedication to bolster the struggling housing sector and the broader economy, with additional interest rate cuts likely on the horizon, experts said.
China's green loan registers notable expansion in 20232024-02-14
The balance of China's green loans in local and foreign currencies stood at 30.08 trillion yuan (about 4.23 trillion U.S. dollars) at the end of 2023, up 36.5 percent year on year, the country's central bank said.
China's forex reserves fall to 3.2193 trln USD: data2024-02-08
China's forex reserves totaled 3.2193 trillion U.S. dollars at the end of January 2024, down by 18.7 billion U.S. dollars or 0.58 percent, compared to the end of December 2023, according to data released on Wednesday by the State Administration of Foreign Exchange (SAFE).
China announces reserve requirement ratio cut2024-01-24
China's central bank will cut the reserve requirement ratio for financial institutions by 0.5 percentage points from Feb. 5, said Pan Gongsheng, governor of the People's Bank of China, on Wednesday.