China
'Father of euro' suggests common Asian currency
CHINA - Asia needs a common currency with China, Japan and the Republic of Korea at the centre, said Nobel Prize winner Robert Mundell, in China on Tuesday reports New China News Agency.
US Nobel laureate praises China's monetary policy
CHINA - Nobel Laureate Robert Mundell has praised China's monetary policy as "excellent" in a recent interview.
China's c bank in battle over payment settlement
CHINA - Credit-card companies are fighting for a slice of multi-billion-dollar revenues which could be earned by providing their international networks to settle transactions made on the mainland.
China raises gold prices in unscheduled move
CHINA - China's central People's Bank of China (PBOC) raised domestic buying and selling prices of 99.99 percent pure gold by an average of 1.42 percent on Wednesday, an unscheduled move outside its regular weekly fixing.
China's central bank chief unfazed by debt
CHINA - The governor of China's central bank, Dai Xianglong, acknowledged for the first time yesterday that national domestic debt is much higher than official yardsticks have so far indicated, but he said reform and economic growth would alleviate the…
China ctrl bk - Weak yen won't affect stable yuan
CHINA - The weakening Japanese yen won't force China's government to abandon its long-held policy of maintaining a stable yuan, a senior central bank economic researcher said Friday.
Beijing backs away from controversial audit plan
CHINA - Chinese securities regulators have backed away from a controversial plan to force companies issuing shares to have their books audited by foreign accountants after furious lobbying against the policy by the domestic industry.
People's bank to open office in Frankfurt
CHINA - The People's Bank of China (PBOC), the central bank, plans to open a representative office in Frankfurt home of the European Central Bank (ECB) is headquartered, PBOC's press office announced.
Chinese c.bank chief says supports stable euro
CHINA - China's central bank governor Dai Xianglong said on Monday Beijing supports a stable euro but that he did not understand why the unified currency had lost value to the dollar since its inception.
Currency dealing liberalised in China
CHINA - The central bank has eased controls on foreign-exchange dealing by domestic banks to put them on an equal footing with foreign competitors, it was reported.
Beijing set to cut rates as deflation fears return
CHINA - China is set to cut interest rates today for the first time in more than two-and-a-half years to combat a return of the deflationary pressures Beijing fought so hard to banish during the Asian financial crisis.
China to concentrate on supervision in 2002
CHINA - The People's Bank of China (PBOC), China's central bank, will focus its attention on reinforcing financial supervision in the year 2002, said Dai Xianglong, governor of the PBOC.
Beijing toughens bank rules
CHINA - After a call by China's top leadership to strengthen supervision of the country's troubled financial system, the central bank on Friday unveiled a program for tighter inspection of bank finances.
China accord on how to oversee banks
CHINA - China yesterday, Wednesday, put to rest months of divisive debate on whether a separate supervisory body should be set up to oversee its banking system, deciding that a new bureau within the existing central bank would be sufficient to do the job…
China to open banking sector as promised
CHINA - China will keep its promise to gradually open up its banking sector in accordance with the timetable set in the WTO agreement, said Chinese central bank governor.
China delegates arrive for key financial summit
CHINA - Delegates began arriving Monday at the Great Hall of the People for a crucial policy meeting that will set the financial system reform agenda for the next five years.
China vows to safeguard stability of stock market
CHINA - China has promised investors to safeguard the "stability" of the stock market after a week of sharp price movements triggered by continuing confusion over the sale of the controlling stake held in most listed companies by government entities.
China considers central bank role
CHINA - China's policy makers appear to be contemplating the future role of the People's Bank of China as banking supervisor as the country prepares to open its financial system to foreign competition.
China's c bank plans payment system development
CHINA - The People's Bank of China (PBOC), the central bank of China, has selected a database and application development tool for its China National Advanced Payment System (CNAPS).
China's new gold exchange delayed but not derailed
CHINA - China's plans to open a gold exchange in Shanghai early in 2002 are still intact but laws on important details, including whether to impose the value-added tax on exchange transactions, have yet to be issued, an exchange spokeswoman said on…
China's bank chief criticises low value of yen
CHINA - The governor of China's central bank offered an unambiguous criticism on Tuesday of the Japanese yen's recent depreciation, saying it was putting pressure on the Chinese currency and would bring no good to Japan or the rest of Asia.
China ranks US Dlr as No 1 component of reserves
CHINA - People's Bank of China Governor Dai Xianglong on Tuesday ranked U.S. dollars as the major component of the country's foreign reserves, ahead of the euro and yen.
China c bank chief vows reform as banker is sacked
CHINA - Central bank chief Dai Xianglong vowed on Tuesday to push gradual reforms and tighter supervision in China's first year as a WTO member as he confirmed the sacking and probe of a top commercial banker over problem loans.
Chinese fund managers under attack
CHINA - A Chinese stock market regulator has criticised several fund managers, accusing them of exploiting regulatory loopholes to enrich themselves and their companies at the expense of the public.