People's Bank of China

REPORT: China tells its banks to stop doing business with North Korea

China reportedly told its banks to stop doing business with North Korea.<p>The People's Bank of China told banks in the country to "strictly implement the United Nations sanctions against North Korea," four sources told Reuters.<p>Reuters added that banks were "told to stop providing financial services …

North Korea

China's central bank tells banks to stop doing business with North Korea: sources

BEIJING/HONG KONG (Reuters) - China's central bank has told banks to stop providing financial services to new North Korean customers and to wind down existing loans with North Korean customers, according to a document, four sources told Reuters.<p>The document asked banks to fully implement United …

North Korea

Forex - PBOC Sets Yuan Parity At 6.5861 Vs Dollar

Investing.com - The People's Bank of China set the yuan mid-point at 6.5867 against the dollar on Friday, compared to the previous close of …

Forex

Trump Expands Sanctions on North Korea, Adding Economic Pressure

President Donald Trump Thursday ordered new sanctions on individuals, companies and banks doing business with North Korea as he sought to further …

North Korea

S&P cuts China's credit rating to A+ over rising debt fears

Ratings agency cites concerns over financial and economic risk as country’s total debt hits $28tn<p>China’s credit rating has been downgraded by Standard & Poor’s amid fears rising debts are adding to economic and financial risks.<p>The agency lowered China’s sovereign rating by one notch to A+ from AA-, …

Economy

Here’s a reason why China would want to shut down bitcoin - MarketWatch

Last week was tumultuous for bitcoin, as Chinese authorities announced plans to ban the cryptocurrency’s trading in the country.<p>I am not surprised …

Business

North Korea sanctions: Here's what Trump did

President Trump escalated pressure on North Korea as part of his ongoing economic warfare against Pyongyang.<p>On Thursday, he issued an executive order that would penalize any company or person doing business with North Korea by either cutting off their access to the U.S. financial system or freezing …

North Korea

People’s Bank of China Think Tank: Cryptocurrencies Are Realistic Threat

In what seems like a never ending stream of bad news for cryptos coming out of China, a new statement condemning cryptos within the Chinese financial …

China

Trump’s Threats Loom as China Weighs Opening to Wall Street, Tesla

Coincidence or not, China appears set to ease restrictions on foreign automakers and banks amid sustained pressure from U.S. President Donald Trump …

China

What Will Happen When Major Chinese Bitcoin Exchanges Close Down by End of October?

Upon the closure of OKCoin and Huobi later this year, the Chinese Bitcoin exchange market will officially be shut down

Cryptocurrency

China's IT Ministry Backs New Blockchain Research Lab

Regardless of its recent crackdown on bitcoin exchanges and initial coin offerings (ICOs), China's government still appears committed to the …

Bitcoin

Swimming The 'Dollar' Current (And Getting Nowhere)

The People’s Bank of China reported this week that its holdings of foreign assets fell slightly again in August 2017. Down about RMB 21 billion, …

Economy

Dollar's Jump May Reveal China's Line in the Sand for Yuan

China’s bid to rein in appreciation pressure on the yuan will get a helping hand from dollar today, and also provide the market with some valuable …

Business

STOCKS FALL: Here's what you need to know

The S&P 500 fell for the first time in five sessions, weighed down by th consumer staples, telecoms, and health care sectors.<p>Here's the scoreboard:<p>Dow: 22,375.78 -36.81 (-0.16%)<br>• S&P 500: 2,503.79 -4.45 (-0.18%)<br>• Nasdaq: 6,432.92 -23.12 (-0.36%)<p>S&P Global Ratings cut China's sovereign credit by one …

Business

China’s crackdown on cryptocurrency trading – a sign of things to come

The Chinese government’s decision to order several Bitcoin and other cryptocurrencies exchanges to close shows how much of a threat they are …

Bitcoin

Chinese Exporters Hedge Their Yuan Bets

As China’s currency has been on an unexpected tear this year against the dollar, many Chinese exporters are holding on to their greenbacks. That, in turn, could create challenges for the country’s central bank.<p>Fay Yu, a 45-year-old businesswoman from China’s Zhejiang, says she is keeping U.S. …

Economy

There's Too Much Attention on the Fed

It's actions mean little with other central banks still printing cash.<p>There is too much focus -- most of it misdirected -- on what the Federal Reserve may or may not do today. There are a number of reasons for this. First, the Fed is but one of several major central banks and not even the largest …

Economy

Why China's Crackdown on Bitcoin Is Good for the Industry

Over the past week, many traders, analysts, and investors in the finance and cryptocurrency sectors have reacted to the crackdown on bitcoin by the …

Bitcoin

Local Sources: China Bans Travel By Bitcoin Executives

On September 18, 2017, <i>Beijing News</i> reported a travel ban for bitcoin executives. The outlet cites “industry insiders” as the source of this …

China

Dollar Climbs, Bonds Slide as Fed Sees 2017 Hike: Markets Wrap

Treasuries tumbled while the dollar surged after the Federal Reserve struck a more hawkish tone than markets anticipated. U.S. stocks were little …

Economy

Yuan Fix Is Back in the Spotlight

For Sean Yokota, one has to just look at the yuan’s daily fixing to decipher China’s foreign-exchange policy. Especially these days.<p>The currency’s …

Business

China central bank backs mortgage rate hikes in capital

BEIJING (Reuters) - China's central bank supports a move by some banks to increase lending rates on mortgage loans in the Beijing market, state broadcaster China Central Television (CCTV) on Tuesday quoted the central bank as saying.<p>Mortgage lending rates that are 5 percent to 10 percent higher …

Economy

Pressure off yuan as China's outflows ease

After feeling the pressure last year as capital flowed out of China in record amounts, the yuan has had a remarkable reversal of fortunes in 2017.<p>The …

Economy

S&P cuts China’s sovereign credit rating on growing economic, financial risk

S&P Global Ratings on Thursday cut China’s sovereign credit by one notch, citing economic and financial risks raised by the country’s’ prolonged …

Economy

Nearly US$46bn taken out in short-term consumer loans since March to help fund Chinese house buys

At least 300 billion yuan (US$45.7 billion) worth of short-term consumer loans have been taken out by Chinese borrowers and ploughed into the …

News (China)

Asia Markets Point to Mixed Start Amid Trump, Fed: Markets Wrap

Asian markets may need to gird for another round of geopolitical tensions after U.S. President Donald Trump threatened to annihilate North Korea. …

Economy

War with North Korea Starts To Look Inevitable

Pyongyang’s and Washington’s miscalculation and misconception could lead to the worst outcomes.<p>“We have pretty much exhausted all the things that we could do at the Security Council at this point,” said Nikki Haley on CNN’s “State of the Union” on Sunday, referring to North Korea. “We wanted to be …

North Korea

Western contempt for China turns to panic

Not since the British garrison at Singapore surrendered to Gen. Tomoyuki Yamashita in 1942 has Western opinion of an Asian power changed so fast. …

China

China Widens Bitcoin Crackdown Beyond Commercial Trading

BEIJING—Chinese authorities are moving toward a broad clampdown on bitcoin trading, testing the resilience of the virtual currency as well as the idea its decentralized nature protects it from government interference.<p>Regulators have decided on a comprehensive ban on channels for the buying or …

Bitcoin

Fed rate rises squeeze time China can solve financial woes, analysts warn

China has less time to defuse its debt bomb and address domestic financial risks after the US Federal Reserve set out a timetable to steadily …

Economy