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Tag: People’s Bank of China (PBOC)

China’s GDP in the fourth quarter declined when compared to a year back.
China’s Q4 GDP Slowest in 1.5 Years
China, the world’s second-largest economy, got off to a strong start in 2021 following the economic turbulence resulting from the COVID-19 pandemic in 2020. But after posting a record growth of 18.3 percent in the...
A woman wears a protective mask as she walks past the People's Bank Of China (PBOC) on Financial Street, April 17, 2020 in Beijing, China. China's gross domestic product (GDP) stood at 20.65 trillion yuan (about 2.91 trillion U.S. dollars) in the first quarter of 2020 amid COVID-19 impact, down 6.8 percent year on year, according to data from the National Bureau of Statistics (NBS).
China Gave Out A Record $3.14 Trillion in New Bank Loans
Data released by the People’s Bank of China (PBOC) on Jan. 10 showed that China’s new yuan loan lending hit a record 19.95 trillion yuan ($3.14 trillion) in 2021, 1.6 percent more than the 19.63...
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Chinese Real Estate Firms Pressured With Pending Wage Dues and Bond Payments
Property developers in China are facing a tough time financially. Many are unable to pay their suppliers and contractors, putting existing and future projects in limbo. Some are not in a position to pay off...
One hundred Chinese yuan banknotes.
Chinese Central Bank Slashes Main Interest Rate Amidst Economic Pressure
On Dec. 20, the People’s Bank Of China (PBOC) announced a five-basis point cut in its one-year Loan Prime Rate (LPR), taking it from 3.85 percent to 3.80 percent. Though the rate cut is small,...
Chinese President Xi Jinping speaks with Russian President Vladimir Putin via a video link, from the Great Hall of the People on December 2, 2019 in Beijing, China
China’s Central Bank Increasingly Under Beijing’s Control
Pressed by senior leaders anxious about the declining economic growth, the People’s Bank of China (PBOC) announced earlier this week that it would cut the reserve requirements of banks. It would consequently allow these institutions...
Chinese property giant Evergrande is said to have defaulted on repaying its debt.
Fitch: China’s Evergrande Finally Defaults On Debt
Real estate behemoth China Evergrande Group has been crippled with business issues and is struggling to meet its financial obligations. It has been declared as a defaulter for the first time after it failed to...
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China’s Factory and Consumer Inflation Spikes, Little Relief in Sight
China’s producer price index (PPI) rose by 13.5 percent in October year-on-year, which is a faster rate than the September figure of 10.7 percent. This is also the fastest pace at which PPI has risen...