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China Launches 11 New Bases for Development of Hi-tech Sector, Beijing Designated as AI Centre

The Chinese central government has announced the launch of nearly a dozen new hubs around the country for the development of hi-tech...

China Only Major Economy to Grow in 2020 amidst 4.4% Global Contraction: IMF

A new report from the International Monetary Fund (IMF) expects China to be the only major economy to achieve growth in 2020...

SASAC Calls for Strategic Investors to Take 5% + Stakes in China’s State-owned Enterprises

China's state-owned assets regulator is pushing for strategic investors to expand their equity stakes in the country's listed state-owned enterprises (SOE).

PBOC Reduces Foreign Exchange Risk Reserves Ratio from 20% to Zero for Forward Sales and Settlement

The Chinese central bank has completely removed its foreign risk reserves requirement for forward foreign exchange sales and settlement in response to...

No Irrigation-style Monetary Policy, Inflation Avoidance the Chief Priority: PBOC

The head of the Chinese central bank has sent a slew of signals on near-term monetary policy towards the end of 2020....

Renminbi Receives Boost from Record Foreign Demand for Chinese Assets

Analysts see the global role of the renminbi rising on the back of record demand for Chinese assets, as China emerges as...

Chinese Communist Party Touts Commitment to Further Economic Opening in Flagship Newspaper

The flagship newspaper of the Chinese Communist Party (CCP) has published an opinion piece in its finance section hailing further opening of...

China’s Nationwide Tax and Fee Cuts Total 1.8773 Trillion Yuan for Jan – Aug 2020

Official data points to sizeable reductions in taxes and administrative fees in China since the start of 2020 as part of ongoing...

World Bank Doubles Growth Forecast for Chinese GDP in 2020

The World Bank has just lifted its forecast for Chinese GDP growth in 2020, as the economy continues to convalesce from the...

China’s Foreign Debt Exceeds USD$2.1 Trillion at End of First Half

China's national foreign debt exceeded USD$2.1 trillion as of the end of the second half of 2020.

Household Financial Assets in China Rise 7.4% During Spread of COVID-19

A near ten percent rise in deposits has driven a sizeable increase in the financial assets of Chinese households during the first...

USD$3.36 Billion QDII Quota Launched to Support Dual Circulation, Financial Opening

The State Administration of Foreign Exchange (SAFE) has approved a new quota for Qualified Domestic Institutional Investors (QDII's) in China in order...

Latest stories

Legal Changes Expand Power of Chinese Central Bank, Confer Official Recognition to Digital Renminbi

Proposed amendments to the law governing the Chinese central bank are expected to confer it with greater sway and authority within China's...

Jack Ma Calls for Replacing “Pawnshop Mentality” of Traditional Banks with Big Data-based Credit System

Alibaba-founder Jack Ma has decried the collateral focus of traditional banks in the Chinese financial system, calling instead for the use of...

Digital Lender XWBank Sees Q3 Profits Rise 32%

Sichuan-based direct lender XWBank has seen a sharp on-quarter rise in its profits in the third quarter of 2020, as China makes...

Renminbi Internationalisation Will Be Guided by the Market, Regulators Must Reduce Cross-border Restrictions: Chinese Central Bank Head

The governor of the People's Bank of China (PBOC) has highlighted the key role of market forces in broader efforts to expedite...