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People's Bank of China, China's central bank, announced a raise in the reserve requirement ratio (RRR) by 50 basis points Feb 18. The new standard became effective Thursday, Xinhua reported.
Chinese shares closed higher Wednesday with the benchmark Shanghai Composite Index up 7.12 points, or 0.25 percent, to 2,862.63.
China's central bank said Wednesday it will provide 10 billion yuan ($1.52 billion) of new loans to financial institutions in provinces severely hit by drought.
Hong Kong will foster the further development of offshore RMB business to enhance the competitiveness of its financial markets, John Tsang said on Wednesday in his budget speech.
Stocks on the Chinese mainland fell the most in a month as worsening violence in oil-producing Libya and surging energy prices fanned concerns that inflation will accelerate and force the government to adopt more tightening measures.
Brazilian and Chinese stock market representatives participated on Tuesday in the first Brazil-China Capital Markets Forum, in Sao Paulo, to seek joint business opportunities in the sector.
The People's Bank of China said it has implemented "dynamically differentiated required reserve ratios" among 40 local banks with low capital adequacy ratios and which witnessed rampant growth in lending since January. CBRC to set new rules for banking sector
The China Banking Regulatory Commission (CBRC) confirmed on Monday evening that it is drafting a slew of new rules to set tougher criteria for capital adequacy, provisions, leverage, and liquidity conditions for lenders.
Chinese shares tumbled Tuesday due to the tensions in the Middle East and North Africa, as well as inflation concerns with soaring oil prices pushed up by the unrest.
Road King Infrastructure Ltd, the toll-road operator with 15 projects spanning seven provinces in China, paid the highest yield on record to sell yuan bonds in Hong Kong and still saved on what it would have paid borrowing in China or in US dollars.
Temasek Holdings has hired Ding Wei, former head of the China International Capital Corp (CICC) investment banking, to lead its China operations, Reuters reported on Tuesday, citing a Singapore state investor.
The China Banking Regulatory Commission (CBRC) is drafting a guidance document to adopt a new regulatory framework consisting of four new regulatory tools for commercial banks. The document will be released soon, said the CBRC spokesperson.
