Chinese leaders appointed a new Communist Party chief at the People’s Bank of China (PBOC) on July 1, a surprise move that some experts say is a desperate attempt to revive China’s flagging economy. Pan Gongsheng, 59, deputy governor of the PBOC, would eventually replace Yi Gang, the central’s bank current governor, who has held…
China Appoints New Central Bank Leader Amid Economic Woes
July 6, 2023
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New Property Records Reveal Beijing’s Buy-Up of London’s Financial District
February 23, 2023
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Newly released records showing overseas ownership of UK property reveal, for the first time, China’s strengthening grip on London’s financial district. Documents released under Britain’s brand new register of overseas entities—and analysed by The Epoch Times—reveal how the Chinese regime has ploughed millions into commercial and residential properties in the affluent area using offshore companies….
China Rolls Out Unprecedented Plan to Rescue Ailing Property Sector
November 20, 2022
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China’s financial regulators last week issued an unprecedented 16-point plan to rescue the country’s floundering real estate market. The People’s Bank of China and the China Banking and Insurance Regulatory Commission jointly issued the plan in a note to financial institutions to support real estate companies. The policy is being seen as the most powerful…
China’s Central Bank Slashes Key Rates as Economic Slump Deepens
August 15, 2022
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The People’s Bank of China (PBOC) surprised markets by cutting a key interest rate for the second time in 2022 as the country’s economy struggles to grow. The central bank reduced the rate on its one-year medium-term lending facility (MLF) loans by 10 basis points, from 2.85 to 2.75 percent. The move is aimed at…
Big Brother Is Getting Bigger
“This is a surveillance tool, and it’s disguised as a payment mechanism,” Erik Bethel said of the Chinese regime’s new digital currency. In this episode of “American Thought Leaders,” host Jan Jekielek and Bethel, a global finance analyst, discuss the situation in China, and the threat of the digital yuan to the U.S. economy and to…
China’s Central Bank Declares All Cryptocurrency-Related Activities Illegal
September 24, 2021
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China’s central bank has declared all cryptocurrency-related transactions illegal while vowing to crack down on the virtual currency market. The People’s Bank of China said in a statement, translated by CNBC, that services offering trading, order matching, token issuance, and derivatives for virtual currencies are strictly prohibited. Overseas crypto exchanges providing services in mainland China are…
Analysis: China’s Banks Are Bursting With Dollars, and That’s a Worry
June 2, 2021
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SHANGHAI/SINGAPORE—A mountain of dollars on deposit in China has grown so large that banks are struggling to loan the currency and traders say it poses a risk to official efforts to control a fast-rising yuan. Boosted by surging export receipts and investment flows, the value of foreign cash deposits in China’s banks leapt above $1…
China’s Banks Are Bursting With Dollars, and That’s a Worry
June 2, 2021
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ChinaChina Business & EconomyChina-US Newseconomyexportersforeign investorsInternationalPeople’s Bank of ChinaUSUS NewsWorld
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SHANGHAI/SINGAPORE—A mountain of dollars on deposit in China has grown so large that banks are struggling to loan the currency and traders say it poses a risk to official efforts to control a fast-rising yuan. Boosted by surging export receipts and investment flows, the value of foreign cash deposits in China’s banks leapt above $1…
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