CHINA’S central bank said yesterday it will maintain a prudent monetary policy as the country faces pressure in supporting growth and containing inflation. The remarks, made by an official with the People’s Bank of China, was quoted in a PBOC press release a day after the central bank unveiled a reserve requirement ratio cut to ease a liquidity shortage and …
Read More »
China is set to surpass India as the world’s top gold consumer this year, the World Gold Council (WGC) predicted. The demand for gold in China, the world’s largest producer, rose by 20% to 769.8 tonnes last year, driven by surging demand for jewelry and investment, while consumption in India, the world’s largest consumer, tumbled 7% to 933.4 tonnes as a result …
Read More »
For years, people have wondered what happens when China stops buying U.S. Treasury bonds. Once China refuses to finance our massive deficits, the thought goes, interest rates will surge, and the Treasury might have a hard time selling bonds (ask Greece what it’s like). And if China actually began selling its Treasury bonds… that could bring about something far worse. …
Read More »
China cut the amount of cash that banks must set aside as reserves for the second time in three months to spur lending as Europe’s debt crisis and a cooling property market threaten economic growth. Reserve ratios will fall 50 basis points, effective Feb. 24, the People’s Bank of China said on its website yesterday evening. The level for the nation’s largest lenders will decline to 20.5 percent, …
Read More »
A lecture by Victor C. Shih, political economist at Northwestern University and author of Factions and Finance in China: Elite Conflict and Inflation, the first book to inquire about the linkages between elite politics and banking policies in China. Shih’s current research concerns Chinese banking policies, exchange rates, elite political dynamics and local government debt in China. (December 6, 2011)
Read More »
Asian stocks rose this week, with the MSCI Asia Pacific Index equaling its longest streak of advances, as China pledged to do more to help Europe cope with the debt crisis and Japanboosted asset purchases. Cosco Pacific Ltd. (1199), the Hong Kong-listed operator of Greece’s Piraeus port, climbed 4.1 percent. Chipmakers outside Japan rallied after debt-laden Elpida Memory Inc. said it may not survive. Reliance …
Read More »
Soybean exporters in the U.S., the world’s top shipper, sold 2.923 million metric tons to China in the biggest one-day deal on record. Prices in Chicago rose to the highest in almost five months. The sale includes 2.75 million tons for delivery in the year that begins Sept. 1 and 173,000 tons prior to Aug. 31, the U.S. Department of Agriculture said today in …
Read More »
Sina Corp. (SINA) gained, helping Chinese shares traded in New York to a five-month high, after analysts recommended buying the nation’s Internet companies as users climb and their stock trades cheaper than peers in the U.S. Sina, which runs the Twitter-like Weibo service in China, jumped the most in two weeks, while E-Commerce China Dangdang Inc. (DANG), China’s largest Internet …
Read More »
Asia Finance News Asia finance news, banking, market analysis, business, Forex, trade, Cryptocurrency as it is happening in Asia. Trusted gateway for Asian financial news.