 |
|
|
 |
|
China needs to urgently securitise part of its huge stockpile of bank loans to help stimulate growth in the banking and financial sectors, a vice central bank governor said on Thursday.
The Chinese currency Renminbi (RMB), or the yuan, Thursday gained 45 basis points from Wednesday to a record new high of 6.5051 per US dollar.
The National Council for Social Security Fund (SSF) has promised to invest 10 billion yuan ($1.5 billion) in the China Development Bank (CDB), one of the country's three policy lenders, the bank announced Wednesday.
Agricultural Bank of China, the nation's largest lender to farmers, said Wednesday that its net profits in the first three months this year climbed 36.43 percent from a year earlier due to higher interest income and commissions.
Chinese shares closed lower Wednesday with the benchmark Shanghai Composite Index down 13.57 points, or 0.46 percent, to 2,925.41.
Haikou, the capital of South China's island province of Hainan, may become the first city to loosen restrictions on home ownership that were brought in to cool the housing market.
China will likely allow some of the world's top 500 companies to float shares in its A-share market as it prepares the launch of an international board in Shanghai, Chinese media reported on Tuesday.
Stocks on the Chinese mainland fell for a third day on Tuesday. The retreat came on concern that government measures to tame inflation are slowing earnings growth as China Life Insurance Co and Datong Coal Mine reported declines in first-quarter profit.
The People's Bank of China (PBOC), China's central bank, plans to expand its pilot plan for using the currency of renminbi in cross-border trade to more regions this year, an official with the bank said Tuesday.
China is facing continuously increasing pressure from capital inflows because of a contradiction between the nation's macroeconomic policies and the financial demands of market players, said a senior official at the State Administration of Foreign Exchange.
Chinese shares closed lower Tuesday with the benchmark Shanghai Composite Index down 25.97 points, or 0.88 percent, to 2,938.98.
Hungary is interested in issuing bonds in China or to Chinese buyers to finance various investment projects in the longer term and has held talks with Chinese financial officials, the development ministry said on Friday.
