China
IMF hits PRGT milestone but quota deal remains elusive
US wants to maintain voting shares as China continues to press for more proportional allocation
China SWF buying bank shares on Shanghai exchange
Central Huijin was created in 2003 to address domestic banking crisis
Inflation set to remain high into 2025, IMF warns
Soft landing looks more likely but growth is “limping along”, says Pierre-Olivier Gourinchas
Chinese prosecutors charge ex-PBoC official with taking bribes
Central bank fired deputy governor Fan Yifei in December
US and China set up economics and finance working groups
Officials will report to US Treasury Secretary Janet Yellen and Chinese vice-premier He Lifeng
Chinese developer says regulators’ conditions prevent new debt issue
Pressure grows on Evergrande to restructure estimated $328 billion debt amid property sector crisis
Will the use of CBDCs improve cross-border payments?
International trials using CBDCs highlight significant architectural and practical challenges, writes Warren Coats
PBoC holds key lending rates
Central bank official says data shows recent easing measures are taking effect
Critic urges UK to leave China-based lender
Treasury says UK will stay in AIIB as ex-official calls some employees “useful idiots”
Chinese police detain financial firm’s staff
Move came after property giant Evergrande’s financial arm missed payments for investment products
PBoC cuts reserve requirement ratio but holds policy rate
Data shows some improvement in demand but continuing property sector problems
PBoC developing interoperable QR codes for digital yuan
Digital yuan to be available in all retail scenarios and in wholesale securities markets
China to ease mortgage rules and cut banks’ FX reserve ratio
Moves come on top of authorities’ recent support measures for property sector and stock market
PBoC pledges more financial support for private firms
Governor Pan Gongsheng says authorities need to unblock funding channels for private firms
People: July to September 2023
A round-up of central bankers in the news and on the move during the past three months
China rolls out more support for property sector and stock market
Authorities cut stamp duty on stock trades for first time since 2008 and relax home-buying rules
PBoC delivers smaller rate cut than expected
Move signals banks are under strain due to falling interest margins, analysts say
PBoC bolsters support for renminbi
Central bank pledges intervention to prevent excessive currency moves
Book notes: My journeys in economic theory, by Edmund Phelps
Six decades of the Nobel Prize-winner’s thoughts – from micro-foundations of macro theory to the possibilities beyond working, saving and investing
PBoC cuts key rates as economy stutters
China stops publishing youth jobless rate after record-high figure in June
China’s new lending slumps to lowest since 2009
Analysts believe PBoC has limited room to cut interest rates amid current yuan weakness
China slips into deflation
Risk of Japan-style deflation exists but can be avoided, analyst says
When £1 is not £1
Gabriel Stein examines the risks from introducing a CBDC should its value diverge from that of physical currency and bank deposits
Book notes: The crisis of democratic capitalism, by Martin Wolf
A sincere attempt to explain and fix the failing of capitalism in liberal democracies