China’s central bank is drafting a package of reforms which would give foreign investors greater access to the nation’s financial services industry, according to sources familiar with the matter. The People’s Bank of China will convene an internal meeting on Tuesday to discuss its proposals and get feedback from Chinese […]
There should be no difference in the trading price of the yuan in offshore and onshore markets, a senior official from China’s foreign exchange regulator said on Wednesday. “In an ideal situation, there should be only one unified yuan price in the global markets,” Lu Lei, the newly appointed deputy […]
Take a guess: which Southeast Asian country did Beijing invite for the BRICS Summit that begins on Sunday in Xiamen, where leaders from Brazil, Russia, India, China, and South Africa will discuss the future of emerging economies over tea?
A proposal by a prominent Chinese economist to revive the “rust belt” province of Jilin has triggered controversy among academics, showing the difficulty of finding a quick solution to the problems of the northeast zone as it grapples with debt and inefficient plants. Justin Lin Yifu, who has worked for […]
The credit rating of China’s Anbang Life Insurance Co was downgraded by Dagong Global Credit Rating Co on Wednesday, three months after the regulator curtailed its operations and two months since the chairman of its parent company disappeared from public sight. The downgrade by one notch to AA+ came as […]
Chinese investors will have to get specific approval from Beijing to put their money in overseas property and sports clubs under tough new restrictions released on Friday. Amid fears of broader financial insecurity, the State Council said companies would also need regulatory approval for outbound investments in hotels, the film […]