20 h. ago Scam and corruption cases spark debate in China over cryptocurrencies’ future

The seizure of enormous cryptocurrency caches in two high-profile criminal cases in China – a former head of the central bank’s digital currency research institute accused of corruption, and an alleged scam centre kingpin linked to about US$15 billion in bitcoin – have sparked questions in the country about the safety and future of virtual money. But analysts said the long-term trend for the assets, especially bitcoin, depended on institutional capital, interest rate expectations and the...

Politics

67 h. ago China’s Central Bank Lowers Rates on Structural Policy Tools

China’s Central Bank Lowers Rates on Structural Policy Tools  The Wall Street Journal

Events

68 h. ago China to cut relending rates, widen credit support for private sector and tech

China’s central bank is looking to pump 900 billion yuan (US$129.2 billion) worth of additional funds into private and technology firms, alongside slashing key policy relending rates by a quarter of a percentage point, in a fresh round of monetary easing designed to shore up the economy. The new plan includes an extra 500 billion yuan for agriculture and small businesses, said Zou Lan, a deputy governor of the bank, at a press conference in Beijing on Thursday. The bank will also expand its...

Politics

4 d. ago China’s central bank sets onshore yuan fixing at strongest point in nearly 16 months

China’s central bank strengthened the yuan’s daily fixing for a third consecutive session to a nearly 16-month high, as the currency also held firm in offshore markets despite recent US dollar strength. On Tuesday, the People’s Bank of China set the yuan’s midpoint rate, also known as the daily fixing rate, at 7.0103 to the US dollar – the strongest showing since the end of September 2024, when the rate was set at 7.0074. That official midpoint rate, however, was still weaker than that of the...

Politics

9 d. ago Cambodia dissolves accused scam tycoon Chen Zhi’s Prince Bank

A Cambodian bank founded by accused scam boss Chen Zhi, who has been indicted by the United States over a multibillion-dollar fraud and extradited to China, was ordered liquidated on Thursday, Cambodia’s central bank said. Prince Bank “has been placed under liquidation in accordance with the laws of the Kingdom of Cambodia”, the National Bank of Cambodia (NBC) said in a statement. Prince Bank has been “suspended from providing new banking services, including accepting deposits and providing...

Politics

1 week ago China’s central bank signals reserve ratio, interest rate cuts in 2026

China’s central bank has reiterated its commitment to a “moderately loose” policy stance in 2026, pledging stronger countercyclical and cross-cycle adjustments and signalling flexible and efficient use of reserve requirement ratio (RRR) cuts and interest rate reductions to support a strong start to the 15th five-year plan. At a work conference outlining priorities for the coming year, the People’s Bank of China also highlighted goals including a reasonable recovery in prices, mitigating...

Politics

1 week ago China's central bank pledges to cut RRR, interest rate in 2026

China's central bank pledges to cut RRR, interest rate in 2026  Reuters

Politics

2 w. ago Hong Kong interbank rates forecast to drop on expected US monetary easing in 2026

The US Federal Reserve under a new chairman in 2026 is expected to press ahead with interest rate cuts of up to 75 basis points, a move that would lower Hong Kong’s interbank-linked loan costs but leave prime lending rates stuck at their historical low, according to analysts. The Fed and the Hong Kong Monetary Authority (HKMA) both reduced their key policy rates by a total of 75 basis points in 2025, following a full percentage-point rate cut in 2024. Hong Kong’s base rate now stands at 4 per...

Politics

3 w. ago Yuan climbs past seven per dollar as China’s central bank caves in to bulls

Yuan climbs past seven per dollar as China’s central bank caves in to bulls  Taipei Times

Politics

3 w. ago China's central bank will maintain ample liquidity to align growth

China's central bank will maintain ample liquidity to align growth  news.cgtn.com

Politics