The People’s Bank of China refrained from conducting open market operations for a fifth consecutive trading day on Wednesday, leading to a net liquidity drainage of 210 billion yuan.
The latest data from China’s National Bureau of Statistics indicates that the country’s purchasing managers index remained above the 50 point threshold for the 18th consecutive month in January.
China’s heavy-handed deleveraging campaign is hampering the prospects of smaller lenders by stymieing their ability to access funds via the interbank market.
The China Banking Regulatory Commission has flagged tighter regulation of the financial sector across a total of seven key areas, including interbank operations, wealth management products and information disclosures.
Financing channels for Chinese property developers have become increasingly scarce since the start of the new year, with domestic media now reporting that many commercial banks are suspending their lending operations in this area.
China’s dauntless campaign against systemic risk in the finance sector is driving up the share price of the country’s biggest banks beyond book value.
The latest official data points to surging growth in China’s telecommunications sector in 2017.
Yi Gang (易纲) vice-governor of the People’s Bank of China, has outlined the chief concerns and challenges for the Chinese central bank in 2018 in an essay published by its official news publication.
The South China Morning Post has published an opinion piece calling for China to confront “demographic reality” and adopt concerted measures to boost birthrates.
One of China’s top economists says that hopes for a stabilisation in Chinese GDP growth are unfounded given an intractable slowdown in fixed-asset investment.