People’s Bank of China

The People’s Bank of China issued a bank card clearing business license to Wanshi Network Co., Ltd._Oriental Fortune Network

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The People’s Bank of China issued a bank card clearing business license to Wanshi Network Co., Ltd._Oriental Fortune Network

According to the “State Council’s Notice on the Implementation ofbankDecision on Access Management of Card Clearing Institutions”bank“Measures for the Administration of Card Clearing Institutions” and other provisions, the Chinese People’sbankTogether with the State Administration of Financial Supervision and Administration, we reviewed and approved the application for opening of a bank card clearing institution submitted by … Read more

China’s Central Bank PBOC to Deploy Various Tools to Combat Economic Downturn

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China’s Central Bank PBOC to Deploy Various Tools to Combat Economic Downturn

Zou Lan, head of the monetary policy department of the Chinese central bank PBOC Zou is also considering lowering the reserve ratio for commercial banks to allow them to lend more. (Foto: imago images/VCG) Beijing, Hong Kong China’s central bank wants to dig deep into its tool kit to fight an economic downturn in the world’s … Read more

China Extends Financial Policies for Real Estate Companies: Stable and Healthy Development Supported

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Xinhua News Agency, Beijing, July 10th Question: Two departments including the central bank extended two financial policies to provide continuous and stable support for real estate companies Xinhua News Agency reporter Wu Yu The People’s Bank of China and the State Administration of Financial Supervision issued a notice on the 10th to adjust the two … Read more

China Implements Interest Rate Cuts in Effort to Revive Slowing Economy

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China Implements Interest Rate Cuts in Effort to Revive Slowing Economy

China Cuts Key Interest Rates, Hoping to Kick-Start Flagging Economy In an effort to revive its slowing economy, China’s central bank, the People’s Bank of China, has announced a cut in key interest rates for loans issued by the state-controlled banking system. This move reflects mounting concerns within the Chinese government and corporate sector that … Read more