China
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.
China mulls boosting euro reserves
CHINA - Just as the initial euphoria from the introduction of notes and coins wears off, the euro has received a boost from news that China could be buying more euros to reduce its reliance on the dollar.
Speech by Dai Xianglong, People's Bank of China
SPEECH - Speech by Dai Xianglong, Governor of the People's Bank of China, 20 November.
China to use IMF's GDDS
The official Xinhua news agency announced Monday that China plans to use the International Monetary Fund's General Data Dissemination System to improve the quality of its statistics.
ECB Noyer - Wise for China to boost euro forex
CHINA - European central bank Vice President Christian Noyer said Tuesday it was "a very wise decision" for Chinese authorities to choose to boost the amount of euros in the country's foreign exchange holdings.
China to lift foreign banks' forex restrictions
CHINA - China will lift restrictions on foreign-exchange business conducted by foreign banks operating in the country, China's central bank announced via state television Sunday.
China's gold mining embraces reshuffle
CHINA - China's gold mining industry plans to form 12 internationally competitive groups by 2005 to meet challenges from the deregulation of the domestic gold market driven by the nation's accession to the World Trade Organization (WTO).
Shanghai opens gold exchange
CHINA - China's gold markets will reach a milestone today with the low-key opening of a new exchange in Shanghai to trade the precious metal, which has been controlled by a rigid state monopoly for more than five decades.
China will increase euro reserves
CHINA - The vice president Guo Shuqing with The People's Bank of China discloses that China has purchased a number of Euro as foreign exchange reserve in the past 2 months.
Euro on show in Beijing
An exhibition entitled "The Euro Is Here" has opened at the China Numismatic Museum in Beijing.
China lifts banking barriers to entry
The People's Bank of China has announced a programme for the opening of China's banking sector following the country's accession to the WTO.
A Look at China's Financial Reform
RESEARCH - A paper submitted to CentralBankNet by Wu Chang Ming, senior economist at the People's Bank of China, currently on secondment at the Reserve Bank of New Zealand.