people's bank of china : Chinatopix

Home > people's bank of china

people's bank of china

China launches new yuan-denominated gold benchmark on Tuesday, with aim to control pricing and establish stronger influence on the global market.

China Launches Yuan-Denominated Gold Benchmark

Apr 19, 2016 11:30 AM EDT

China, the world's top gold consumer, launched a yuan-denominated gold benchmark on Tuesday as it attempts to gain more control over its price and establish stronger influence on the international market.

Authorities Arrest 270 Members of Underground Banking Ring, Transactions up to 900 Billion Yuan

Mia Ren |

Mar 25, 2016 02:07 PM EDT

Chinese authorities arrested more than 270 people involved in illegal money transfers amounting to ¥900 billion ($138 billion).

No Basis for Yuan Depreciation, Speculators Caused Currency to Decline: PBOC

Carlos Castillo |

Feb 15, 2016 07:07 AM EST

The People's Bank of China (PBOC) Governor Zhou Xiaochuan has broken his long silence amid vigorous efforts to restore stability to the country's economy and currency, saying there is no basis for continued yuan depreciation.

Beijing: 'We Will not Devalue Yuan'

Carlos Castillo |

Jan 27, 2016 04:45 AM EST

The Chinese government has no plans to devalue the yuan, a high ranking Beijing official has said.

China Issues 10-Yuan Monkey Zodiac Coins

Cybelle Go |

Jan 09, 2016 05:50 AM EST

Monkey zodiac coins, equivalent to 10 RMB (USD $1.50), can be reserved at the China Construction Bank in Lujiazui starting January 8, according to Chinese State Media. The window for reservations opened at exactly 7:30 a.m. on Friday.

China's Baidu Enters Online Payments Business with Citic Bank

Victoria Stanley |

Nov 21, 2015 10:14 AM EST

Baidu Inc., China's largest search engine, has teamed up with Citic Bank Corp., a state-owned corporation, to start an online bank. The deal targets the country's $90 billion mobile payments business, according to local reports on Tuesday.

Old yuan notes end up being shredded and burned to generate electricity

China Produces Electricity from Burning Money

Charissa Echavez |

Nov 21, 2015 06:43 AM EST

Ever wondered where all the old yuan Banknotes ends up? Well, in order to produce biomass-generated electricity, mutilated currencies amounting up to 100 billion yuan ($15.67 billion) are being shredded then burned at Yancheng city in Jiangsu Province.

China's Central Bank to Introduce New 100 Yuan Banknote on Nov. 12

Kwao Peppeh |

Aug 10, 2015 06:06 AM EDT

The People's Bank of China has announced on Monday that an updated version of the 100 yuan banknote will be introduced on Nov. 12. There would be no changes to the color and design of the new 100 yuan bill. However, it would come with advanced security features that will make it difficult to counterfeit and easily identifiable by machines.

United States Treasury Department has put China on Watch List

China Slashes Benchmark Rates To Help Save Sliding Economy

Camille Harthy |

May 11, 2015 06:56 AM EDT

The People's Bank of China on May 10 slashed the country's benchmark deposit and loan interest rates by 25 basis points, a move expected to help improve the country's slowing economy, state-owned Xinhua News Agency reported the same day.

China Cuts Interest Rates To Stimulate Economy

Vittorio Hernandez |

Mar 01, 2015 08:53 AM EST

China cut for the third time in four months the key lending rate on Saturday by one-quarter of a percentage point, the same rate cut on deposit rate.

China Central Bank Cuts RRR to 19.5%; Markets Mixed

Dino Lirios |

Feb 05, 2015 01:06 PM EST

Markets across Asia reacted differently on news of the central bank of China following its regional neighbors' monetary stimulus movements.

China Injects $8 Billion into Banking System to Help Revive Economy

Dino Lirios |

Jan 23, 2015 01:24 PM EST

In an effort to address a seasonal cash squeeze that is worsened by capital outflows, China's central bank will be injecting 50 billion yuan - equivalent to $8 billion - into their banking system effectively increasing its re-lending quota.

Economists Expect China to Cut Rates in 2015

Lui Francisco |

Dec 29, 2014 12:58 PM EST

According to a majority of economists responding to a quarterly poll by Nikkei Inc. and NQN, China's central bank will likely lower interest rates once or twice in 2015.

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.

Investors look at computer screens showing stock information at a brokerage house in Shanghai.

China May Allow Individuals to Invest Overseas

Michael A. Katz |

Oct 10, 2014 01:15 PM EDT

The Chinese government is mulling over whether it should allow individuals to invest directly in oversease markets and exchanges, said a central bank official.

1 2 3