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The Peoples Bank of China (PBOC) set the USD/CNY reference rate at 6.3669 on Monday when compared to the previous fix and the previous close at 6.370

The Chinese central bank has raised the foreign exchange reserve ratio for the purpose of strengthening forex liquidity management for financial institutions. The Peoples Bank of China (PBOC) announced on 9 December that starting from 15 December it would increase the foreign exchange reserve ratio for Chinese financial institutions by 2 percentage points, to 9% []

PBoC and HKMA co-organise joint seminar on Hong Kongs Positioning and Prospect as an International Financial Centre ****************************************************************************************** The following is issued on behalf of the Hong Kong Monetary Authority: The Peoples Bank of China (PBoC) and the Hong Kong Monetary Authority (HKMA) co-organised a joint seminar Hong Kongs Positioning and Prospect as [] The post Hong Kong PBoC and HKMA co-organise joint seminar on Hong Kongs Positioning and Prospect as an International Financial Centre appeared first on Webnewswire .

China is now working on connecting its nearly finished central bank digital currency (CBDC) to Hong Kong’s Fast Payment System. Announced by the head of China’s digital yuan project in a Thursday (Dec. 9) seminar, the pilot program between the People’s Bank of China (PBoC) and the Hong Kong Monetary Authority (HKMA) is more than […]

The official news publication of the People’s Bank of China (PBOC) has flagged further opening up of the banking sector as part of broader national policy to expand China’s global economic influence. “Standing at the starting point of a new period of history, there is no doubt that China will continue to open both arms […]

The Peoples Bank of China (PBOC) said it will raise the reserve requirement ratio for banks from 7 per cent to 9 per cent effective from Wednesday next week in Beijings latest move to curb the yuans rally against the US dollar.

The Peoples Bank of China (PBOC) Governor Yi Gang said on Thursday, the risks from a few property firms in the short-term will not undermine Hong Kon

The Chinese Communist Party (CCP) has sought to reiterate its control of the Peoples Bank of China (PBOC) during the latest round of sweeping inspections of the countrys financial institutions and regulatory bodies. Discipline inspectors from the CCPs top anticorruption authority have conducted inspections of PBOC in recent weeks, during which they reiterated the official []

In recent trade today, the Peoples Bank of China (PBOC) set the yuan (CNY) at 6.3498 vs. the estimate of 6.3452 and the last close of 6.3438. About t

The Eastern Caribbean Central Bank (ECCB) expanded its CBDC (DCash) to two more nations of the commonwealth: Dominica and Montserrat. Now, the digital version of the EC dollar has been rolled out in seven out of all eight-member from ECCU countries. The Eastern Caribbean dollar (EC$) is the currency used by the members of the Organisation of Eastern Caribbean States (OECS), and a central banks pilot project rolled out the DCash as a digital version of the currency that can be sent and received through a free app for users based in any eastern Caribbean country that has launched the CBDC. During the pilot period, the transactions are processed with no transfer fees. The ECCB Governor Timothy N.J. Antoine expressed that the payment system should work for all, except for illicit actors, and DCash must work for small states and small businesses. Antoine justified the existence of an Eastern Caribbean CBDC as an advance in the digitalization of the economy while noting that the current payment methods are too slow and too expensive.

Fears of property-linked debt defaults are on the rise again this week as major developers in China issued warnings about the poor outlook and reportedly missed coupon payments. Its crunch time again for Chinese developers which issued statements right before the start of this week that warned of difficulties in fulfilling upcoming debt obligations. Year-to-date, Chinese firms have defaulted on a record-high of $10.2 billion in offshore bonds with real estate companies accounting for 36 percent, according to market data. And now, three major developers, in particular, are signaling weakness and the growing risk of even more souring debt. China Evergrande After months of teetering on the brink, China Evergrande is inching closer towards a formal default after offshore bondholders did not receive coupon payments at the end of a 30-day grace period on December 6 this week, according to a «Reuters» report citing multiple unnamed sources. Authorities followed up with the setup of a risk management committee that includes officials from state entities who will focus on mitigating future risks at Evergrande which has over $300 billion of outstanding liabilities.

The Chinese central bank has cut the reloan rates for loans made to support the agricultural sector and small businesses. The Peoples Bank of China (PBOC) announced on 7 December that starting from that date it would cut the rate for agricultural and small business-support reloans across three tenors by 0.25 percentage points. The 3-month []

Shanghai nonferrous metals closed with mixed performance as the market became more worried about the current economic situation after the People’s Bank of China announced to kick off the process of reducing RRR rate soon.

The Peoples Bank of China, the countrys central bank, has announced that it will reduce the reserve requirement ratio (RRR) for banks. The reserve requirement forces banks to maintain liquid money so as to ensure stability of the financial system. Such liquid money can include cash, bonds, stocks, etc. Starting Dec. 15, the RRR will []

By CentralBankNews.info Chinas central bank lowered its reserve requirement for most financial institutions for the second time this year, as expected, saying this should support the development of the real economy and steadily bring down overall financing costs. The Peoples Bank of China (PBOC) cut the required reserve ratio (RRR) for financial institutions by []