Halfway up a 37-storey tower overlooking Hong Kong’s Victoria Harbour, within walking distance from the People’s Liberation Army barracks and the classy Hong Kong Club, sits an unassuming office of a fund manager with an outsize role in the global financial markets. The spartan office, with two tiny flags of China and Hong Kong providing…
Halfway up a 37-storey tower overlooking Hong Kong’s Victoria Harbour, within walking distance from the People’s Liberation Army barracks and the classy Hong Kong Club, sits an unassuming office of a fund manager with an outsize role in the global financial markets. The spartan office, with two tiny flags of China and Hong Kong providing…
Both China’s official manufacturing and non-manufacturing PMIs picked up in Feb as activities normalized after the Lunar New Year holiday (28 January – 4 February). The official manufacturing PMI returned to expansion (indicated by a reading above 50) while non-manufacturing PMI rose at a faster pace, UOB Group’s economist Ho Woei Chen notes. February PMIs…
(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…
The People’s Bank of China (PBOC) said it would tender central bank bills totalling 60 billion yuan (US$8.2 billion) in Hong Kong on Friday, marking the second time this year it has used the policy tool to stabilise the yuan amid tariff tensions with the US. The PBOC said it would tender 40 billion yuan…
BEIJING (Reuters) -China’s central bank announced on Monday it had activated its open market outright reverse repo operations facility and would use it to trade with primary dealers in open market operations on a monthly basis. The bank took the decision to maintain a “reasonable abundance of liquidity in the banking system and further enrich…
(Bloomberg) — China should issue 2 trillion yuan ($281 billion) of special government bonds to help create a market stabilization fund, according to a top government-linked think tank. Most Read from Bloomberg The fund would promote market stability through the buying and selling of blue-chip stocks and exchange-traded funds, Chinese media outlet the Paper reported,…
China’s major commercial banks have cut their deposit rates for a second time this year, a move that could help ease pressure on lenders’ profits after officials lowered mortgage and lending rates as part of efforts to boost the economy. Industrial & Commercial Bank of China and China Construction Bank Corp. and other big lenders…
By Samuel Shen, Ankur Banerjee and Tom Westbrook SHANGHAI/SINGAPORE (Reuters) – China’s highly anticipated announcement of financial stimulus plans on Saturday was big on intent but low on the measurable details that investors need to ratify their recent return to the world’s second-biggest stock market. Saturday’s news conference by Finance Minister Lan Foan reiterated Beijing’s…
China’s central bank is moving ahead with a 500-billion-yuan swap facility to let securities, fund and insurance firms get liquid assets for their stock purchases. The establishment of the roughly $70.60 billion facility is part of a broader stimulus package introduced late last month by People’s Bank of China Gov. Pan Gongsheng to revive the…