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China to start direct yuan trade with British pound

Last Updated: Wednesday, June 18, 2014, 18:09

China will start direct trade between its yuan currency and Britain`s pound on Thursday, the country`s foreign exchange trade platform said, in another step on its push to internationalise the unit.

China to reduce rural banks' reserve requirements

Last Updated: Tuesday, June 10, 2014, 00:21

China's central bank today announced details of a plan that reduces the amount of money rural banks must keep in reserve, a move aimed at stimulating the economy amid slowing growth.

China growth target vulnerable as economy's momentum fades

Last Updated: Wednesday, May 14, 2014, 16:39

After annual economic growth slowed to an 18-month low of 7.4 percent in the first quarter, data for April has raised the possibility it could slow further.

China suspends online credit cards, code scanning payments

Last Updated: Friday, March 14, 2014, 15:40

China's central bank has suspended the use of online credit cards and payments through code scanning due to security concerns.

China, EU sign 45 bn euro currency swap agreement

Last Updated: Thursday, October 10, 2013, 18:44

China accelerated plans to internationalize its currency on Thursday by agreeing to swap euros and yuan with the European Central Bank in a deal that is set to be China's second-largest to date.

China central bank injects funds; eases fears of repeat cash crunch

Last Updated: Tuesday, July 30, 2013, 09:20

Short-term money rates in China have been rising steadily in recent weeks as the end of July approached and Chinese companies and banks stocked up on cash to make dividend payments and get books in order.

China central bank soothes after stock plunge

Last Updated: Tuesday, June 25, 2013, 19:18

For more than two weeks, funds have been in short supply on China's interbank market and the interest rates banks charge to lend to each other have surged to record highs.

British, Chinese central banks agree currency swap line

Last Updated: Sunday, June 23, 2013, 10:32

The Bank of England and the People's Bank of China have signed an agreement to establish a reciprocal, three-year sterling-yuan currency swap line, Britain's central bank announced.

China's gold reserves stand at 1,054 tonnes

Last Updated: Wednesday, March 13, 2013, 19:06

Vice governor of the People's Bank of China Yi Gang on Wednesday said the country's gold reserves now stand at 1,054 tonnes, and added that a massive increase is unlikely in the future.

China's central bank pumps record liquidity into market

Last Updated: Friday, November 02, 2012, 14:30

The People's Bank of China (PBOC), the country's central bank, stepped up its efforts in injecting a record amount of cash flow into banks through open market operations this week.

China's economy to slowdown for 9th quarter: Experts

Last Updated: Wednesday, September 26, 2012, 15:14

Amid gloomy outlook forecasts for the Chinese economy which is slowing down due to exports slump, the Central Bank has injected USD 46 billion worth of local currency to improve cash liquidity.

China has still more room for rate cuts: Experts

Last Updated: Friday, July 06, 2012, 12:02

The second rate cut this year made by China's central bank yesterday to boost the sagging economy came sooner than expected, but it has still more room for further reductions, say experts.