Tag: Bank of China

• Thursday, January 17th 2019 - 09:08 UTC

  China injects US$ 83bn to the financial system hoping to prop a declining economy

  

  China’s central bank injected a record US$ 83 billion into the country’s financial system on Wednesday, seeking to avoid a cash crunch that would put further pressure on the weakening economy. China’s policymakers are pledging to step up stimulus measures this year and do more to protect jobs as economic growth cools to 28-year lows.

• Sunday, December 6th 2015 - 12:23 UTC

  Bank of China faces daily fine in the US unless it complies with court order

  

  The Bank of China will face a daily fine in the US unless it complies with a court request to give details of customers accused of selling fake goods. The bank was held in contempt of court in Manhattan last week for refusing to turn over the records.

• Monday, August 3rd 2015 - 13:44 UTC

  China's factory activity shrinks the most in two years

  

  Factory activity in the world's second largest economy, China, shrank the most in two years in July as new orders fell more than expected. The private Caixin/Markit manufacturing purchasing managers' index (PMI) dropped to 47.8 in July from 49.4 in the previous month.

• Thursday, February 5th 2015 - 10:39 UTC

  China eases credit to help boost growth; 7.4% in 2014 was the lowest in 24 years

  

  China's central bank has cut the level of funds banks must hold in reserve in an effort to boost growth in the world's second-largest economy. The reserve requirement ratio has been cut by 0.5 percentage points to 19.5%.

• Tuesday, June 25th 2013 - 19:49 UTC

  Chinese stocks tumble as Beijing announces an end to the era of cheap credit

  

  Chinese stocks touched a four-and-a-half-year low on Tuesday amid persistent concerns over the government's credit-tightening policy. The Shanghai Composite SSE index fell as much as 5.8% at one point, before a late rally meant it ended down 0.3%.

• Monday, November 12th 2012 - 05:29 UTC

  China’s and the world largest bank takes control of Argentine institution

  

  Argentina has given approval for the Industrial and Commercial Bank of China to take control of the local operations of South Africa's Standard Bank following a 600 million dollars deal last year, the Chinese lender said on Sunday.

• Tuesday, September 4th 2012 - 00:20 UTC

  Growing fears China is slowing down faster than estimated

  

  China's manufacturing activity fell to a nine-month low in August, adding to fears that its economy is slowing faster than estimated. The official Purchasing Managers' Index (PMI) fell to 49.2, the lowest reading since November 2011, data released over the weekend showed.

• Tuesday, July 3rd 2012 - 18:46 UTC

  Bank of China expands in Brazil following 30bn dollars swap agreement

  

  Bank of China plans to cash in on the expanding bilateral trade between China and Brazil and the recent currency swap agreement between the two central banks.

• Thursday, November 10th 2011 - 05:56 UTC

  China inflation cools in October; housing transactions down 25% from September

  

  China's inflation cooled in October, home sales fell and industrial output grew at the slowest pace in a year, adding pressure for measures to support growth in the world's second-biggest economy.

• Thursday, September 8th 2011 - 22:21 UTC

  Fitch warns it might downgrade China and Japan ratings, but who rates Fitch?

  

  Fitch Ratings warned that it might downgrade China's credit rating within two years as the country's banks struggle with debt loads following a lending surge to help lift the economy during the 2008 financial crisis.