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Central banks

The slump in bond yields complicates the central bank’s task of stabilising the yuan, which now faces more depreciation pressure. Photo: Shutterstock
Bonds

China’s 10-year bond yield slumps to record low, pressuring yuan

‘Staggering’ new low signals ‘chilling risk forecast’ amid a deflationary spiral ‘eerily reminiscent’ of Japan’s long malaise, analyst says.

Yuan

China’s yuan hits lowest level in months as Trump tariff threats roil currencies

Currencies

Opinion | Trump’s fuming over unlikely ‘Brics currency’ belies risks of de-dollarisation

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Yuan

China’s digital yuan roared out of the gate, but stumbling blocks have popped up

Corruption and a slow adoption of the e-CNY risk undermining the groundbreaking progress that China’s digital currency has made over the past decade.

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The cumulative transaction value of China’s digital yuan had reached 7 trillion yuan (US$968 billion) as of the end of June. Photo: Xinhua
Blockchain

Hong Kong offers grants to boost tokenised bond issuance

The city’s de facto central bank is handing out up to HK$2.5 million in subsidies per issuance to qualified tokenised-bond issuers.

Banking & finance

Time right for China to cut reserve ratio to add liquidity, aid growth: analysts

Analysts say the window for the People’s Bank of China to reduce the reserve requirement ratio (RRR) is open.

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China’s economic stimulus

China’s tech firms at the front of the queue for loans amid policy tilt

People’s Bank of China asks government ministries and major banks to accelerate loans to tech companies.

A visitor shakes hands with a humanoid robot at the Light of Internet Expo in Wuzhen, east China’s Zhejiang province. Photo: Xinhua
China GDP

China’s GDP forecast cut as Trump trade worries take hold before new term

Though Donald Trump has not yet taken office, his expected tariff increases have led S&P Global Ratings to cut growth projections for China.

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Yuan

Yuan to catch up to China’s position in world’s economy: ex-official

Outspoken former Chongqing mayor Huang Qifan says Hong Kong can play a key role in the internationalisation of the yuan.

Wealth management

Hong Kong’s wealth sector thrives as political uncertainty, geopolitics swirl

The Capital Investment Entrant Scheme, launched in March, has brought in more than HK$20 billion from 670 applications, Paul Chan says.

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Net inflows into wealth management products offered in Hong Kong nearly tripled to HK$341 billion in 2023, from a year earlier. Photo: Eugene Lee
Banking & finance

Citigroup CEO meets Chinese officials as Beijing touts financial market reforms

Fraser said the Wall Street bank will ‘further its participation in the market to help promote US-China economic ties and trade’.

Chinese Vice-Premier He Lifeng met Citigroup CEO Jane Fraser at the Great Hall of the People in Beijing on Thursday. Photo: Xinhua
Digital currencies

Shanghai court says crypto ownership legal in China amid bitcoin price surge

In an opinion on a recent lawsuit, a Shanghai judge wrote that cryptocurrencies have the attributes of property and thus holding it is legal.

Banking & finance

Explainer | What makes China’s ultra-long ‘special bonds’ so special?

China has only issued its ultra-long-term government bonds in special circumstances – here’s why this year qualifies.

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Hong Kong economy

Chinese Vice-Premier He Lifeng’s 3 ideas for Hong Kong – as it happened

Three-day Global Financial Leaders’ Investment Summit brings together senior Chinese officials and heads of banking giants.

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Chinese Vice-Premier He Lifeng. Photo: Dickson Lee
Diplomacy

Opinion | Here’s how the G20 can be more than a talk shop

While the grouping did a good job of dealing with the 2008 global financial crisis, in recent years, collective action has been sorely lacking.

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Brazil’s Economy Minister Fernando Haddad shakes hands with US Treasury Secretary Janet Yellen during the G20 economic ministers’ meeting in Rio de Janeiro, Brazil, on July 26. The G20 summit is scheduled for November 18-19. Photo: AFP
Bonds

HSBC’s 4.5 billion yuan panda bond to boost globalisation of Chinese currency

The bond, which pays an annual coupon of 2.15 per cent, also reinforces Hong Kong’s role as the world’s offshore yuan centre, bank says.

Ant Group

Ant-backed credit rating firm gets central bank approval after 3-year wait

The joint venture, 35 per cent owned by Ant Group, had a prolonged wait after previously licenced firms were approved within weeks of applying.

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China’s economic stimulus

Open Questions | Economist Huang Yiping on Trump trade war 2.0 and China’s stimulus ‘U-turn’

Huang Yiping of Peking University talks the re-election of Donald Trump and why China needs its own Marshall Plan.

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Illustration: Lau Ka-kuen
China’s economic stimulus

China unveils debt-relief plan, keeps further stimulus salvo in reserve arsenal

Week-long NPC Standing Committee meeting ends with mostly forward-looking plans to right China’s economic ship.

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Hong Kong property

Hong Kong home prices to bottom out in short term after rate cut: analysts

Unexpected prime-rate cut by local lenders seen bringing more buyers into market, shoring up prices.

Banking & finance

Hong Kong’s base interest rate drops to 5% in second cut

Together with the half-percentage-point cut in September, Hong Kong’s key rate has now fallen back to February 2023’s level.

View of Hong Kong from the Hong Kong Monetary Authority (HKMA) headquarters at IFC in Central district on October 9, 2024. Photo: May Tse
US Federal Reserve

US Federal Reserve eases rates with quarter-point cut

Fed chairman Jerome Powell is expected to be questioned on Thursday about economic impact of Trump’s US election victory.

A screen on the floor of the New York Stock Exchange shows the Federal Reserve rate decision on Thursday. Photo: AP
Yuan

China’s yuan falls sharply as Donald Trump declares US election win

Exchange rate between US dollar and yuan could become a bargaining chip in negotiations between China and the US on tariffs, analyst says.

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Banking & finance

IMF welcomes US-sanctioned former Russia central banker

Former first deputy governor of Bank of Russia Ksenia Yudaeva has been elected as the IMF’s executive director for Russia and Syria.

US-China relations

US financial-sanction threat should make China rethink forex holdings: economist

‘Possible future sanctions from the US’ under a new US president have set off alarms in Beijing’s policy circles.

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China’s foreign-exchange reserves totalled US$3.316 trillion as of September. Photo: Shutterstock
Blockchain

Chainlink makes a case for blockchain-driven finance at SmartCon in Hong Kong

As Chainlink touts its technology that has brought blockchain transfers to the Swift network, geopolitical scrutiny is growing in the space.

Chainlink’s booth seen on the first day of its SmartCon event at Kerry Hotel in Hung Hom on Wednesday. Photo: Matt Haldane
My Take

My Take | A global financial war has just escalated on a new digital front

Washington wants to kill an international pilot payment system that can bypass the US dollar and banks, but the genie is already out of the bottle.

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Gold in Hong Kong

How Hong Kong can compete with Singapore, Dubai in gold trading

Hong Kong has to create a comprehensive gold trading ecosystem, attract international traders, central banks and hedge funds.

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Central banks
News about policymaking in the world’s major central banks with a focus on the People’s Bank of China, the Federal Reserve, the European Central Bank, the Bank of England, the Bank of Japan and the Reserve Bank of Australia.
last updated:
9 September, 2024
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