China’s stock market was plunging and its currency was teetering. The head of the central bank, fielding questions at a rare news conference, said that China would make it easier […]
People’s Bank of China
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Back to news homeChina Central Bank Cuts Key Interest Rate on Bank Lending
Stocks in China tumbled and the currency weakened on Monday after the country’s central bank announced a smaller-than-expected cut in a key interest rate.Many investors and economists had been expecting […]
China’s Central Bank Cuts Loan Prime Rates
China’s central bank cut key interest rates on Tuesday for loans issued by the state-controlled banking system, in the clearest sign yet of mounting concern in the Chinese government and […]
With ‘Zero Covid’ Behind It, China’s Economy Starts to Recover
China’s consumers, while wary of big-ticket purchases like cars or apartments, are spending again. Many factories are still running below capacity, but exports are strengthening. Even as construction of new […]
To Rein in China’s Banks, Xi Uses Familiar Playbook
To a man with a hammer, a renowned psychologist once posited, everything looks like a nail.For most of his decade in power, Xi Jinping, China’s leader, has usually arrived at […]
Shock Waves Hit the Global Economy, Posing Grave Risk to Europe
Russia’s invasion of Ukraine and the continuing effects of the pandemic have hobbled countries around the globe, but the relentless series of crises has hit Europe the hardest, causing the […]
Ant is changing how consumers borrow money from its app
In December 2020, Beijing laid out a guideline for Ant Group to “rectify” its business after calling off its IPO, which could have been the largest initial public offering in […]