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No Licenses to new Non-bank Payment Agencies.

China’s Central Bank to Stop Issuing Licenses to new Non-Bank Payment Agencies

Aug 14, 2016 04:33 PM EDT

China's central bank said on Friday that it would stop issuing licenses to new non-bank payment agencies as regulators seek to efficiently regulate the fast-expanding non-banking payment industry.

Japan Inspired China to Boost Yuan Currency

Japan Inspires China to Boost Yuan

Maria Crisanta Echeverria |

May 01, 2016 07:22 PM EDT

The People's Bank of China (PBoC) raised the exchange rate of the Yuan currency against the U.S. dollar by 0.56 percent, the biggest increase since 2005.

China's Economy to Grow 6.8% in 2016, Bank of China Says

Mars Woo |

Dec 22, 2015 09:38 AM EST

Despite a volatile global environment and weak domestic market demand, China's economy will still be able to post growth of 6.8 percent next year, according to the Bank of China (BOC) Hong Kong Ltd.

PBOC Official: Bitcoin Can Co-exist With Government Money

Vittorio Hernandez |

Dec 15, 2014 12:14 AM EST

In a span of a few weeks, there were two separate pushes for the Bitcoin currency in China. One came from a former official of the People's Bank of China (PBOC) and the other from an official of an Australia-based Bitcoin business.

China's Xi Jinping May Replace PBOC Chief Over Fiscal Disagreements

Staff Reporter |

Sep 26, 2014 04:12 AM EDT

Due to disagreements over the direction of the financial policy of China, leaders are discussing whether or not to replace the Central Bank Chief.

China's Top Banks Get US$81 Billion Help from Central Bank to Put off Slowdown

Staff Reporter |

Sep 17, 2014 12:36 PM EDT

China's top five banks are receiving aid from the country's Central Bank amounting to US$81 billion or 500 billion yuan. The government support is intended to curb the slow growth rate for the world's second economic power.

China's Banks Pass Stress Test

Marcel Woo |

Apr 30, 2014 08:31 AM EDT

China's banking system can withstand a huge drop in the country's economic growth or even a 400 percent rise in non-performing loans after the central bank said China's lenders have passed the stress test.