China Briefing News

China-Hong Kong Swap Connect: What Does it Mean for Foreign Investors?

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Swap Connect intends to expand Hong Kong’s role as a connector between China and the world.

China Hints at Launching Shanghai-Zurich Stock Connect Program

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China may inaugurate the sale of global depositary receipts (GDRs) in Switzerland by Chinese companies in 2021, signaling futher financial opening up.

China’s PBC Cuts Interest Rate by 25 Basis Points

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Jun. 8 – To the surprise of many, the People’s Bank China (PBC) lowered its interest rate yesterday for the first time in years. The 25 basis points cut takes the one-year lending rate to 6.31 percent and the one-year deposit rate to 3.25 percent. With the rate cut, the PBC aims to boost the […]

RMB Depreciates Against U.S. Dollar By Record Amount in May

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By Sofia Liska Jun. 8 – China’s renminbi (RMB) dropped 0.9 percent against the U.S. dollar in May, more than in any other month since the Chinese government first started letting the RMB appreciate in 2005. A weaker RMB makes Chinese exports more appealing to those importing Chinese goods, but raises the price of foreign […]

China Restricts Access to Financial Information

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Credit checks and financial due diligence not available without permission of the target Jun. 5 – China’s credit checking companies have apparently been indirectly requested to cease providing financial information on companies in China without the target’s prior approval of the data provided. This will impact upon the ability for businesses to accurately assess targets […]

China’s PBC to Cut Reserve Rate Requirement by 0.5 Percentage Points

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May 14 – The People’s Bank of China announced on May 13 that it would cut the amount of cash that banks must hold as reserves by 0.5 percentage points (50 basis points) recently released statistics pointed to a sharper-than-expected slowdown of the economy. The cut, which is the second this year following the first […]

China’s Economic Figures for Q1 2012

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Apr. 16 – Last week, the Chinese government released figures concerning the country’s economy, finances and foreign trade for the first quarter of 2012. The statistics show a drop in year-on-year (yoy) GDP growth from 8.9 percent to 8.1 percent. 2012 Q1 economic indexes GDP: RMB10.8 trillion (yoy growth of 8.1 percent) Industrial value-added growth: […]

China Takes Further Steps Towards Internationalizing the Renminbi

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By Xiaolei Gu Mar. 14 – The China Development Bank (CDB) has taken the initiative to bring out an agreement among the BRICS nations by pledging to extend credit in renminbi (RMB) to the group’s four other members, according to a report by the Financial Times. To this effect, a memorandum of understanding is scheduled […]

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