More Chinese and global issuers and investors are expected to be drawn to offshore yuan bonds in Hong Kong and elsewhere, thanks to the currency’s cost efficiency, according to investment bank China International Capital Corporation (CICC). On Wednesday, China’s Ministry of Finance sold 12.5 billion yuan (US$1.7 billion) worth of bonds in Hong Kong, with…
Hong Kong is expected to play a bigger role in the internationalisation of the yuan as liquidity increases and uses for businesses and individuals broaden significantly, according to officials and market participants. The city was already the world’s biggest offshore yuan business centre, with the largest offshore liquidity pool, foreign-exchange market and over-the-counter market for…
(Bloomberg) — China’s central bank governor said a steady yuan has contributed to the stability of global financial markets and economies around the world, drawing a contrast with a dollar that’s surged as part of fallout from Donald Trump’s tariffs. Most Read from Bloomberg While many currencies have depreciated recently against the greenback, the yuan…
US-Listed Chinese Stocks Fall As China’s Central Bank Keeps Key Rates Steady On Friday, China’s central bank, the People’s Bank of China (PBOC), decided to maintain its main benchmark lending rates amid efforts to support economic growth while managing a weakening yuan. The one-year loan prime rate (LPR) remains at 3.1%, while the five-year LPR…
Hong Kong’s six biggest lenders lowered their prime lending rates for a third time this year, trimming borrowing costs to the lowest level in more than two years. HSBC and subsidiary Hang Seng Bank said they would trim their prime rate by 12.5 basis points to 5.25 per cent from Friday, the lowest since August…
(Bloomberg) — China’s consumer inflation unexpectedly decelerated in November while factory deflation eased, painting a mixed picture of the effects of recent stimulus efforts on the economy ahead of key policy meetings this week. Most Read from Bloomberg The consumer price index rose a less-than-forecast 0.2% from a year earlier, the lowest since June, while…
Africa’s top lenders are opening branches in major Chinese cities in a race to tap into growing trade ties between China and Africa amid Beijing’s push for yuan-based transactions. This is despite threats from the US, where president-elect Donald Trump has said he will impose 100 per cent tariffs on Brics countries that pursue de-dollarisation….
(Bloomberg) — China increased its support for the yuan by setting a significantly stronger-than-expected daily reference rate, after the managed currency weakened to a one-year low in the previous session. Most Read from Bloomberg The People’s Bank of China set the so-called fixing at 7.1934 per dollar, stronger than a closely watched line of 7.2…
China’s Vice-Premier He Lifeng, the government’s top man on the financial industry, is scheduled to lead a delegation of senior bankers and officials to Hong Kong next week for the third annual conference of global financiers, according to sources familiar with the plans. He is expected to lead a contingent comprising the heads of China’s…
https://www.tipranks.com/news/company-announcements/suncar-technology-group-driving-growth-in-chinas-auto-market SunCar Technology Group (SDA) has released an update. SunCar Technology Group, a leading digital platform for B2B auto services and eInsurance in China, reported robust financial growth with a 28% revenue increase in the last twelve months ending June 2024. With strong ties to major corporations like Tesla and Bank of China, SunCar leverages…