pboc

China’s Cabinet Picks Zhu Hexin as Deputy Governor of Central Bank

China’s Cabinet Picks Zhu Hexin as Deputy Governor of Central Bank

China’s cabinet, the State Council, has appointed Zhu Hexin as deputy governor of the central bank.

Aug 15, 2018
Xu Yanyan
China’s Push for Inclusive Finance Is Progressing Steadily, PBOC Says

China’s Push for Inclusive Finance Is Progressing Steadily, PBOC Says

Chinese services aimed at making finance more inclusive developed steadily last year, with the number of unbanked citizens becoming almost…

Aug 14, 2018
Tang Shihua
[Exclusive] China Should Complete Forex Reform ASAP, Ex-Central Bank Advisor Says

[Exclusive] China Should Complete Forex Reform ASAP, Ex-Central Bank Advisor Says

The Chinese government should adopt a floating exchange rate for the yuan as quickly as possible, as there is no…

Aug 10, 2018
Yang Yanqing & Song Yikang & Hou Xintong
Beijing Orders P2P Lenders to Furnish Defaulter Data

Beijing Orders P2P Lenders to Furnish Defaulter Data

China’s central bank plans to add peer-to-peer defaulter information to its credit system to crack down on borrowers who try to escape their financial obligations.

Aug 9, 2018
Du Chuan & Song Yikang & Yang Jiao
Beijing Hasn’t Intervened With Yuan Exchange Rate, Ex-SAFE Director Says

Beijing Hasn’t Intervened With Yuan Exchange Rate, Ex-SAFE Director Says

The yuan might be struggling against the dollar, but China is not using a significant amount of its foreign reserves…

Aug 8, 2018
She Qingqi & Song Yikang
PBOC Fines Alipay for Breaching Forex Rules

PBOC Fines Alipay for Breaching Forex Rules

China’s central bank has fined Ant Financial Services Group CNY4.1 million (USD600,000) for irregularities in cross-border transactions on its Alipay platform.

Aug 7, 2018
Xu Wei
Yuan Swings After Foreign Exchange Reserve Rule Ratio Takes Effect Today

Yuan Swings After Foreign Exchange Reserve Rule Ratio Takes Effect Today

Yuan Swings After Foreign Exchange Reserve Rule Ratio Takes Effect Today. The yuan fluctuated wildly after the foreign exchange reserve…

Aug 6, 2018
Xu Wei
[Exclusive] Send Private Capital Into China’s Real Economy, Central Bank Scholar Says

[Exclusive] Send Private Capital Into China’s Real Economy, Central Bank Scholar Says

An ideal monetary and financial environment would channel private investment into China’s real economy to better underpin a structural improvement,…

Aug 6, 2018
Zhou Ailin
PBOC Aims to Improve Yuan’s Convertibility in Second Half

PBOC Aims to Improve Yuan’s Convertibility in Second Half

China aims to enhance the yuan’s capital account convertibility in the second half as part of Beijing’s efforts to open…

Aug 2, 2018
Xu Wei
World First Could Pick Up First China Payments License Issued in 32 Months

World First Could Pick Up First China Payments License Issued in 32 Months

World First, a British currency exchanger turned multi-service provider, could be the first non-banking financial institution in nearly three years…

Jul 31, 2018
Liao Shumin
PBOC Demands ID Check for Over USD1,000 Overseas Transfers to Stop Money Laundering

PBOC Demands ID Check for Over USD1,000 Overseas Transfers to Stop Money Laundering

China’s central bank is tightening up capital controls to verify transfers that exceed USD1,000 to stop money laundering and has already fined firms failing to comply with the new rules.

Jul 31, 2018
Liao Shumin
PBOC Fines China Life for Mishandling Customer Data

PBOC Fines China Life for Mishandling Customer Data

China’s central bank has fined state-owned underwriter China Life Insurance for negligence in the management of customer data which breached anti-money laundering laws.

Jul 30, 2018
Liu Jing & Tang Shihua