Boosted by news of supportive measures addressing the benchmark interest rate, a share stabilization fund and new monetary policy tools to support bourses, the A-share market rallied strongly on Tuesday, with upward momentum expected to continue in anticipation of more long-term capital inflows, experts said. Their comments were made on Tuesday when the benchmark Shanghai…
China’s top financial regulators, in a move that went beyond market expectations, unveiled a potent combination of monetary easing measures on Tuesday, aimed at anchoring market confidence and underpinning economic recovery amid domestic and global headwinds, analysts said. The forceful one-two punch, including cutting the reserve requirement ratio, key policy interest rates and existing mortgage…
A worker counts Chinese currency renminbi at a bank in Linyi, East China’s Shandong province. [Photo/Xinhua] BEIJING – China plans to increase the tier-1 capital of six major commercial banks, an official said Tuesday. Li Yunze, head of the National Financial Regulatory Administration, told a press conference that the capital will be injected in an…
Chinese shares surged on Tuesday, with the benchmark Shanghai Composite Index up 4.15 percent, closing at 2,863.13. The Shenzhen Component Index rose 4.36 percent, closing at 8,435.70. The ChiNext Index, China’s NASDAQ-style board of growth enterprises, surged 5.54 percent to 1,615.32 points. Tanks to chinadaily.com.cn Please visit: Our Sponsor
EV brand smart starts pre-sales of the #5 SUV on Sept 20 in Beijing. [Photo provided to chinadaily.com.cm] The electric vehicle brand, smart, owned by Mercedes-Benz and Geely, started pre-sales of the #5 SUV in Chinese market on Friday. With a starting pre-sale price of 245,000 yuan ($34,800), the mid-size pure electric SUV is the…
A Chinese clerk counts renminbi yuan banknotes in Nantong, East China’s Jiangsu province. [Photo/IC] China’s top financial regulators said on Tuesday that they are considering additional concrete steps to usher more capital into the stock market. Pan Gongsheng, governor of the People’s Bank of China, said the country’s central bank is studying the establishment of…
Beijing Culture Forum attracts more than 800 domestic and international guests from various fields. [Photo/VCG] BEIJING – Amid the Tang tri-colored potteries, tiny figurines came alive and danced merrily. After an unexpected foray into live streaming at a bustling bazaar, they returned to their slumber as inanimate objects and images on the computer screen. These…
A view of the headquarters of the China Securities Regulatory Commission in Beijing.[Photo/China Daily] The China Securities Regulatory Commission will unveil a guideline to usher medium and long-term funds into the capital market, and publish six measures to facilitate mergers and acquisitions, Wu Qing, chairman of the CSRC said on Tuesday. Tanks to chinadaily.com.cn Please…
[Photo/VCG] China and Switzerland commenced negotiations to upgrade the Sino-Swiss free trade agreement (FTA) on Monday, said the Ministry of Commerce in an online statement. During his meeting with Guy Parmelin, Swiss federal councilor and head of the Swiss Federal Department of Economic Affairs, Education and Research via a livestream, Chinese Minister of Commerce Wang…
A cashier at a bank in Taiyuan, Shanxi province counts renminbi notes. [Photo/China News Service] China’s financial regulators have formulated tailored resolution plans for regions with high-risk financial institutions, and are implementing these measures in a prudent manner, said Li Yunze, head of the National Financial Regulatory Administration, on Tuesday. At the same time, regulators…