Bank regulator plans review of developers' debts Nov 3, 2009
New loans for real-estate development surged 121 percent from a year earlier in the first half to 404 billion yuan, according to the People's Bank of China's latest quarterly report. People's Daily Online. (People's Daily Online, China)
Carmakers keen on auto finance arms Nov 3, 2009
In October 1998, the People's Bank of China authorized the four largest State-owned banks to undertake auto financing ... The rules will enable financial leasing companies to enlarge their capital and help small- and medium-sized enterprises to expand, the People's Bank of China said in a statement on its website. (Xinhuanet, China)
China stocks surgeon new board debut Oct 31, 2009
Zhou Xiaochuan, governor of the People's Bank of China, the central bank, said at an opening ceremony that risk-control should be a priority in the ChiNext market. Rules governing trading include that any stock moving more than 80% either up or down on its first day of trading will be suspended until three minutes before the market's close. (Asia Times Online)
China's bank credit to rise in Q4: central bank Oct 31, 2009
The expected credit surge is due to hefty capital demand for a number of under-construction projects, and reheating of the real estate sector, according to the quarterly macro-economic review issued by the People's Bank of China (PBOC). Medium and long-term credit will increase "substantially", and the bill-financing, which facilitates short-term credits, will continue to fall after the central bank tightened rules to ensure the money flow into the real economy other than stock market... (Xinhuanet, China)
China's Nasdaq-style board starts trading Oct 30, 2009
The central bank and the whole financial system will consistently support ChiNext, said Zhou Xiaochuan, governor of the People's Bank of China, the central bank, at the trade opening ceremony. The index screen shows the increase of the opening prices of the first batch of 28 selected firms for China's ChiNext after their debut in Shenzhen, south China's Guangdong Province, Oct. 30, 2009. (Xinhuanet, China)
Twenty-eight small and medium-sized enterprises Friday started trading their shares at China's Nasdaq-style market, ChiNext, in Shenzhen, Guangdong Province.• All stocks trigger suspensions on Nasdaq-style board Oct 30, 2009
The central bank and the financial system would continue to support ChiNext, said Zhou Xiaochuan, governor of the People's Bank of China, the central bank, at the opening ceremony. IPO launches in China have often seen steep price hikes followed by even steeper falls as investors snapped up quick profits. (Xinhuanet, China)
Yuan gaining currencybeyond China's borders Oct 29, 2009
An article by People's Bank of China (PBoC) governor Zhou Xiaochuan on March 2009, which called for an international reserve currency to take the place of the US dollar, created a whirlwind of debate within China's policy circles, and the international community, about the future role of the yuan. While the regional use of the yuan is spreading, analysts have emphasized that it is "usually at the expense of the US dollar as transaction currency, not as reserve currency". (Asia Times Online)
Streator bank receives stimulus money Oct 27, 2009
The only other Illinois bank to receive money was People's Bank & Trust, Pana. It received $10,000 less than Centrue. (The Pantagraph newspaper)
$ falls to 14-month low vs euro Oct 26, 2009
The yen also got a boost from the opinion piece in the Financial News, a paper published by the People's Bank of China, which said that the dollar should remain the principal currency in China's foreign exchange reserves but that the share of euros and yen should increase. The Australian dollar also benefited from the article as investors believe the Aussie has been included in the currencies that China and other central banks have bought to diversify foreign reserves. (India Times)
China bank comment rattles greenback Oct 26, 2009
5 trillion) stockpile of foreign exchange reserves, but the share of the euro and yen should increase, according to an opinion piece in Monday's Financial News, a paper published by the People's Bank of China. The US dollar fell to a 14-month low as word o 00004000 f the report spread before recouping some of its losses after the author, Zhou Hai, told Reuters he was only expressing a personal opinion. (Sydney Morning Herald -- Business)
Experts see "hot money" dangers in China's economic outlook Oct 21, 2009
26 percent year on year, the People's Bank of China, the central bank, said Wednesday ... Statistics from the People's Bank of China (PBOC) said China's foreign exchange reserves increased by $177. (Xinhuanet, China)
Matching Gifts Oct 21, 2009
Matching Gift Companies - CLEMSON UNIVERSITY OFFICIAL ATHLETIC SITE. Matching Gift Companies Thank you for making the extra effort - and for your doubled support. (Clemsontigers.com)
Bank of China exec resigns, tipped for IMF post Oct 20, 2009
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China's economy has passed the worst and recovery will pick up momentum next year, according to a prominent Chinese economist. • Chinese economy expected to grow 9% in Q3: Experts Oct 19, 2009
19 trillion yuan more than the same period last year, according to the people's Bank of China, the central bank. "However, there are still no sign of inflation as both CPI and PPI are still minus, but the government should improve the stimulus package and deal with the problems in the economic development properly," said Zhuang. (Xinhuanet, China)
China's Era of Bank JVs May Be Ending Oct 15, 2009
The buyer will require vetting by the China Securities Regulatory Commission (CSRC), China Banking Regulatory Commission (CBRC) and People's Bank of China on criteria that include capital strength, quality of brand and strength of branch network across China. The deal is slated for a public auction on the Shanghai United Assets and Equity Exchange, but ICBC, as a founding shareholder that meets the above requirements, has not revoked its pre-emptive first right of refusal to buy back the stake. (BusinessWeek)
China's new loans rise to 516.7 bln yuan in Sept. Oct 15, 2009
4 billion yuan, the People's Bank of China, the central bank, said Wednesday. New yuan-denominated loans in the first nine months stood at 8. (People's Daily Online, China)
China: Foreign reserves hit fresh peak Oct 15, 2009
7 trillion) last month as surging asset prices and the economic recovery attracted investment, the People's Bank of China said yesterday. The reserves rose $141 billion in the quarter. (Business Report, South Africa)
Credit rule to guard personal privacy Oct 14, 2009
However, the Credit Reference Center run by the People's Bank of China, the central bank, is exempt from the restrictions ... Under draft rules, banks are banned from providing information for credit agencies without a qualification granted by the credit reference regulator, the People's Bank of China. (People's Daily Online, China)
Zhu elevation step toward top role at IMF Oct 14, 2009
Though Zhu personally denied knowledge of his appointment as the vice-president of the nation's top monetary authority - the People's Bank of China - the source confirmed that the central bank had been officially informed about Zhu's new position. The 56-year-old Zhu, a senior banker with ample international experience, might just become the second person after Justin Lin, the current World Bank chief economist, to play a key role at an international financial institution. (People's Daily Online, China)
Bank of China exec could take IMF role Oct 13, 2009
Zhu Min - who would first take up a position at the People's Bank of China, the central bank - would be the first Chinese national to hold a major post within the Washington-based fund, the 21st Century Business Herald said. China and other emerging countries have pressed the IMF to reform its governance structure to better reflect their growing global economic clout. (Sydney Morning Herald -- Business)
Why Investors Should Bet Against the Dollar Oct 13, 2009
So will the People's Bank of China, the Reserve Bank of India, the Reserve Bank of New Zealand, the Monetary Authority of Singapore and perhaps several months down the road, the European Central Bank. As economies recover and jobless rates fall, most policymakers will raise interest rates to head off the inflation that could result from the massive fiscal stimulus spending launched by governments around the world to combat the global recession. (Time.com)
'Grants culture over' warns Jones Oct 12, 2009
Page last updated at 05:46 GMT, Monday, 12 October 2009 06:46 UK. Grants culture over' warns Jones. (BBC News -- UK)
Largest Internet Phishing Bust Raises Concerns Oct 9, 2009
Technology makes it possible for people's bank accounts to be accessed and their money robbed from somebody who's across the world, so people need to be very careful to protect themselves, said Susan Grant with the Consumer Federation of America. Experts say any e-mails with questions about your money and finances should raise an immediate red flag. (KFOXTV.com, TX)
Home rates going through the roof: city dwellers Sep 26, 2009
A recent survey released by the People's Bank of China (PBOC), the central bank, showed that 65. 2 percent of Chinese urban residents in 50 cities nationwide thought that home prices were "high and unacceptable" in the third quarter, up 2. (Xinhuanet, China)
China monetary policy aimed at stable yuan: report Sep 24, 2009
In the wide-ranging interview covering numerous aspects of policy-making at the People's Bank of China, Zhou said adjustments are increasingly made in coordination with or in response to moves by other central banks. "The scope of monetary policies of some western nations are not small..., which means although you have a loose policy your moves might not have the intended effect or may not be as strong (as hoped)," he said. (Business Report, South Africa)
Ian Macfarlane Sep 23, 2009
THE Treasurer, Wayne Swan, yesterday played down the prospect of a people's bank but left the door open for an inquiry into Australia's financial system. Stephen Johnson and Rebecca Le May12. (Sydney Morning Herald -- Australia)
Helen Coonan Sep 21, 2009
The notion of a "people's bank" that would be set up to rival Australia's big four banks has not been contemplated, the federal government says. Andrea Hayward12. (Sydney Morning Herald -- Australia)
China calls on banks to reduce loan risk Sep 20, 2009
2 trillion) by the end of August, the People's Bank of China reported, higher than the 4. 91 trillion yuan in lending for all of last year. (The Star Online, Malaysia)
China faces aretail reality check Sep 19, 2009
The commission oversaw the People's Bank of China and state financial regulatory bodies. China's State Information Center in August reaffirmed its view that the economy had bottomed out. (Asia Times Online)
China Economic Outlook Rosy Sep 19, 2009
"We have sent timely signals for ensuring economic growth and stabilizing market confidence, and we have forcefully promoted the stable and rapid growth of the national economy," the People's Bank of China said in a statement on its website (www. pbc. (ABC News -- Business)
How China's Yuan Can Become a Global Currency Sep 16, 2009
Recent new policy initiatives adopted by Beijing toward its own currency and of the People's Bank of China (PBOC) (who have recently become increasingly vocal in world forums on the need of economies to rely less on the U.S. dollar as a reserve currency and for trade settlement) have fueled the debate further. What does it mean for a currency to be global. (BusinessWeek)
Report: China's new loans to top 10 tln yuan this year Sep 13, 2009
4 billion yuan, up more than 50 billion yuan from July, and about 139 billion yuan more than a year ago, according to the People's Bank of China, the central bank. The August figure brought new yuan-denominated loans in the first eight months to 8. (Xinhuanet, China)
Chinese Economy Picking Up Steam, Slew Of Data Show Sep 13, 2009
1 billion in August from July, the People's Bank of China said Friday. That dampened fears that the central bank would rein in a lending boom that some say has fueled bubbles in stocks and property and prompted over-investment in sectors burdened with too much capacity, such as steel and cement. (Investors Business Daily)
Chinese Fund Houses on Alert for Money Laundering Sep 12, 2009
But potential terrorists, convicted criminals, wanted suspects, enemies of the state and any subversive individuals already tagged by the People's Bank of China (PBOC) may think twice before taking their business to China from now on, as the Chinese government-endorsed and self-regulatory body of the industry, the China Securities Association, wants to avoid such a scenario. The association is especially concerned following the China Securities Regulatory Commission's (CSRC) recent approval for... (BusinessWeek)
China's industrial output, investments, retail sales rise Sep 11, 2009
2 trillion) by the end of August, the People's Bank of China reported. Demand for China's exports appears to be recovering but still remains weak, government officials say. (The Star Online, Malaysia)
Crowd opposes health reform at Rustburg meeting Sep 11, 2009
Perriello said the government shouldn't have access to people's bank accounts. Another speaker wondered why the attorney general would have a right to his medical records. (Brookneal Union Star, VA)
China's new loans rise to 410.4 bln yuan in August Sep 11, 2009
9 billion yuan, the People's Bank of China, the central bank, said Friday. The August figure brought new yuan-denominated loans in the first eight months to 8. (Xinhuanet, China)
China's yuan rises against U.S. dollar for fourth day Sep 9, 2009
5-percent band daily set by the People's Bank of China, the central bank. The yuan so far has strengthened 17 basis points against the dollar over the past four trading days. (Xinhuanet, China)
* Taiwan News Quick Take Sep 8, 2009
People's Bank of China Deputy Governor Su Ning () arrived in Taiwan yesterday, leading a 22-member delegation to attend a seminar on the development of bills finance markets on both sides of the Strait. Su was scheduled to arrive last week for the seminar but postponed the trip because of the Dalai Lama's visit to Taiwan from Aug. 30 through Friday. (Taipei Times, Taiwan -- World Business)
Banks to benefit from stricter stance Sep 7, 2009
Meanwhile, Su Ning, deputy governor of the People's Bank of China, the central bank, said at the forum that the country will use various policy instruments to adjust the growth in loans. "We are studying the use of a variety of policy tools to adjust banks' lending activity," Su said, without elaborating. (Xinhuanet, China)
China to increase maximum investment quota of QFII Sep 5, 2009
The QFII program was introduced in 2002 by the China Securities Regulatory Commission (CSRC) and the People's Bank of China, the central bank to provide for foreign capital access to the country's financial markets. QFII funds are allowed to invest in Chinese shares, treasuries, convertible and enterprise bonds. (Xinhuanet, China)
Press Release: IMF Signs US$50 Billion Note Purchase Agreement with China Sep 4, 2009
IMF Managing Director Dominique Strauss-Kahn signs a note purchase agreement with the People's Bank of China at IMF Headquarters. (IMF Photo: Eugene Salazar). (IMF News)
China agrees to buy $50 bln IMF bonds Sep 3, 2009
IMF Managing Director Dominique Strauss-Kahn and Yi Gang, deputy governor of the People's Bank of China, have signed the agreement, the IMF said. According to the agreement, China would purchase up to 32 billion (around 50 billion dollars) SDR, or Special Drawing Rights, in IMF notes. (Xinhuanet, China)
Economy calls for bolder reforms Sep 1, 2009
Even if President Hu Jintao and Premier Wen Jiabao have promised no imminent economic policy shifts, the People's Bank of China and the Banking Regulatory Commission, urged by a powerful group of economic pundits, have warned the country's lenders that they are facing rising danger of bad debts in 2010, as a result of their releasing 7 trillion yuan more of credit line in the first six months this year. The watchdogs have demanded the bankers replenish capital to solidify fund adequacy. (People's Daily Online, China)
Opposition looks to reshape Japanese economy Aug 30, 2009
Individual consumption accounts for more than half of Japan's economy, so more money in people's bank accounts would help the economy assuming people spend and don't save. Moreover, change itself is likely to lift the national mood. (Muscatine Journal, IO)
Sugar: A Commodity Rife with Regulation Aug 24, 2009
Provincial governments in China also set minimum prices, and the Chinese National Development & Reform Commission has provided industry loans in concert with the People's Bank of China and purchased thousands of tons of sugar along with the Finance and Commerce ministries. "The quotas make no sense because the reasons for them being there have been so [subverted] by interested parties," says Philip Corzine, an agricultural consultant. (BusinessWeek)
Rising debt forces China's banks to scale back on credit card issuance Aug 16, 2009
The regulator's admonition followed the disclosure by the People's Bank of China that 4. 97 billion yuan of credit card payments were at least 60 days late in the first six months of this year, a jump of 133. (Business Report, South Africa)
China basks in post-Olympic glow Aug 13, 2009
Chinese Premier Wen Jiabao has publicly demanded that the US "guarantee the safety" of Beijing's US investments, and the governor of the People's Bank of China, Zhou Xiaochuan, used April's Group of 20 summit to call for the replacement of the US dollar as the global currency - another sign of China's increasing assertiveness in world affairs. On the US side, prior to the G-20 meeting, Secretary of State Hillary Clinton's three-day visit to Beijing in February struck a determined note of... (Asia Times Online)
China pulls back on bank-credit throttle Aug 12, 2009
But the People's Bank of China said yesterday that the value of new loans had fallen to 356 billion yuan last month, from 1 ... "The People's Bank and policy makers have been reluctant to announce a change in macro policy until they are sure the recovery is strong and sustainable," Professor Huang said ... "A lot of economists and [the People's Bank of China] are worried about asset bubbles and inflation and are trying to talk the market down," said Stephen Green, the China economist at Standard... (Sydney Morning Herald -- Business)
China July new lending slows to 355.9 bln yuan Aug 12, 2009
3 trillion yuan at the end of July, according to the People's Bank of China. The narrow measure of money supply, M1 (cash in circulation plus corporate current deposits), was up 26. (Xinhuanet, China)
Premier Wen reiterates adherence to proactive fiscal, moderately easy money policies Aug 10, 2009
"The central bank is still committed to a 'moderately loose monetary policy'," said Su Ning, deputy governor of the People's Bank of China (PBOC), at a press conference in Beijing on Friday. BEIJING, Aug. 7 (Xinhua) -- There will be no change in China's macro-economic policy orientation amid the world economic downturn, said an official with the country's economic planner on Friday. (Xinhuanet, China)
Monetary policy to remain unchanged Aug 9, 2009
Zhu Zhixin, deputy director of the National Development and Reform Commission, Ding Xuedong, deputy minister of Ministry of Finance and Su Ning, deputy governor of the People's Bank of China (PBOC) attend a press conference in Beijing on Friday ... "The central bank is still committed to a 'moderately loose monetary policy'," said Su Ning, deputy governor of the People's Bank of China (PBOC), at a press conference in Beijing on Friday. (Xinhuanet, China)
No change in China's macro-economic policy: NDRC Aug 8, 2009
When asked whether a large loan extension would result in inflation, Su Ning, vice governor of the People's Bank of China, or the central bank, said the country's moderately easy monetary policy has played an important role in boosting investors' confidence, enlarging domestic consumption, and inflation should not be a current concern. "In the first half, most of the loans were channelled to support the construction of several major projects, and less projects are expected in the second half,"... (Xinhuanet, China)
There would be no change in China's macro-economic policy amid the world economic downturn, said an official with the country's economic planner on Friday.• China's central bank affirms credit policy Aug 7, 2009
The major task was to continue fostering steady economic growth by maintaining credit policy continuity and stability as the economy was in a crucial phase, the People's Bank of China (PBOC) said in its second quarter monetary policy report Wednesday. China's economy expanded 7. (Xinhuanet, China)
China's sleepless nights Aug 6, 2009
On March 26, Zhou Xiaochuan, governor of the People's Bank of China, formulated proposals for creating a super-sovereign reserve currency as a way to achieve financial stability and sustained trade growth. He noted that the credit-based reserve system was inherently unstable. (Asia Times Online)
Even China faces meltdown Aug 6, 2009
Although official inflation is currently negative, the People's Bank of China has already warned of a possible inflation resurgence. It must also be remembered that the social structure of China is now quite Latin American in nature, with a Gini (inequality) coefficient rising rapidly, already at 47 by 2007, well above its Asian neighbors and not far below Mexico (48) and Argentina (49). (Asia Times Online)
China central bank to fine-tune monetary policy Aug 6, 2009
" onclick="Next();" src="/images/butt_next. resolutely continue to carry out its moderately loose monetary policy," it said in its second quarter policy implementation report posted on its website late Wednesday. The bank has on several occasions in recent weeks stressed its monetary policy would continue, in an apparent attempt to address investor fears that credit will be tightened. The report caused the stock market to drop 2.44 per cent by noon. Chinese banks extended a record 7.4 trillion... (Channelnewsasia.com)
China works pay miracle Aug 5, 2009
An index designed by the People's Bank of China (PBoC) to measure how comfortable people feel living with their current incomes registered a negative 8. 6% in the second quarter, the lowest since the index was launched in 1999. (Asia Times Online)
Bubble hazards mount Aug 4, 2009
There were pertinent bubble-related comments out of China last week: July 30 - Dow Jones (JR Wu): "China's central bank will emphasize market-based systems, rather than administrative controls, in guiding the appropriate growth of credit, People's Bank of China Vice Governor Su Ning said. The statement ... came just hours after Chinese shares posted their biggest one-day percentage fall in over eight months on fears that loan growth may start to pull back ... 'We should pay attention to the use... (Asia Times Online)
> ANCYL charged by DA Aug 4, 2009
The Sunday Times reported that, according to the Gobodo report, Malose Kekana former head of Lembede's Progressive Youth Investment Company, did not account for R2-million paid by Nedbank for the company's stake in the People's Bank. Malose is now the interim chief executive of the newly created National Youth Development Agency. (iAfrica.com)
China's Central Bank Reassures on Monetary Policy Jul 30, 2009
In a statement that analysts said was intended to calm skittish markets, the People's Bank of China Vice Governor Su Ning said the central bank "will unswervingly continue to apply appropriately loose monetary policy and consolidate the economic recovery momentum.". The statement was posted on the bank's website after Wednesday's 5 percent fall in the Chinese stock market, its biggest daily drop in eight months, which had been sparked in part by worries that Beijing would restrict bank lending. (ABC News -- Wire)
China keeps moderately easy monetary policy Jul 30, 2009
Su Ning, Vice Governor of the People's Bank of China (PBOC) made the remarks in a meeting held in the bank's Shanghai-based headquarter, saying a proactive fiscal policy and moderately easy monetary policy were crucial for sustained growth. Despite an initial economy recovery resulted from the government's stimulus efforts in the first half, the country still faced severe difficulties and challenges from both domestic and abroad. (Xinhuanet, China)
China's inflation may climb Jul 29, 2009
The decline in the Consumer Price Index, the main gauge of inflation, may reach bottom in the third quarter, the People's Bank of China said in a 10-page report by its Financial Survey and Statistics Department. "China's economy is at a critical stage. We should maintain the stable macro-economic policy and continue to consolidate the foundation for an economic rebound," the report said. (Xinhuanet, China)
Asia reflation movesto the wild side Jul 21, 2009
And I believe the core-to-periphery" flow of funds dynamic (that is, dollar outflows to China, Asia and emerging markets) will fundamentally shape unfolding reflationary dynamics. I view the enormous increase in China's reserves as confirmation both that global speculative flows have been largely rejuvenated and that China and the emerging markets retain the most robust inflationary bias. On the margin, speculative flows will prefer Asia to the US - providing reflationary crosscurrents/headwinds... (Asia Times Online)
Banking regulator should regulate credit cards Jul 20, 2009
A recent report by the People's Bank of China found that credit card debt, which is at least six months overdue, surged 133. 1 percent in the first quarter from a year early to 4. (Xinhuanet, China)
