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Chinese regulators denied on Tuesday that the country will significantly raise the annual amount of foreign exchange individuals are allowed to convert into yuan, as was previously reported in the local media.
The total assets of the fund managed by China's National Council for Social Security Fund (SSF) reached 856.8 billion yuan ($130.35 billion) by the end of 2010, up 10.32 percent year on year, an SSF official said Tuesday.
Total foreign holdings of US long-term securities in January reached $4.45 trillion, up $15.1 billion, or 0.2 percent from the previous month, but China trimmed its holdings for the third straight month, the US Treasury Department reported Tuesday.
Chinese shares closed lower Tuesday with the benchmark Shanghai Composite Index down 41.37 points, or 1.41 percent, to 2,896.26.
China's banking regulator said it will ask banks to control credit risks, especially loans to local governments' financing vehicles, the Shanghai Securities News reported Tuesday.
China's biggest airlines plan to sell the most bonds on record to fund growth even as the central bank is driving up borrowing costs and the industry forecasts a 46 percent plunge in profits on soaring fuel prices.
Japan's record 15-trillion-yen ($183 billion) liquidity injection to shield its economy and stabilize its financial markets from the effects of the nation's strongest earthquake in history will put further pressure on China's efforts to rein in its surging inflation, economists said.
Chinese banks will not run a great risk of bad loans should a property bubble burst because only a small part of bank lending went to homebuyers, said China's top banking regulator.
The expansion of renminbi operations in Singapore has been speeding up, as banks raced to offer yuan deposit products and access to bonds to meet the growing appetite for the Chinese currency.
Stocks on the Chinese mainland rose on Monday for the first time in three days, led by drug producers and steelmakers.
China's banking regulator said via a circular on Monday that 34 kinds of bank service fees will be scrapped from July 1 to raise the efficiency of banking services.
Chinese shares closed higher Monday with the benchmark Shanghai Composite Index up 3.83 points, or 0.13 percent, to 2,937.63.
