China denies report it could halt US bond purchases

China denied on Thursday a report that it may slow or cease its purchases of US Treasury bonds, calling it a possible case of “fake news” after the dollar tumbled following the story. Bloomberg News reported Wednesday that officials reviewing China’s foreign-exchange holdings had recommended slowing or halting purchases of US Treasuries, citing people familiar with… Please follow and like us:

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Most Asia markets down after New Year rally but Hong Kong runs on

The rally across Asia that welcomed in 2018 looked to have run out of steam on Wednesday with most markets slipping into the red on profit-taking but energy shares climbed with another surge in oil prices. Strong economic fundamentals and corporate earnings as well as optimism about the impact of Donald Trump’s massive US tax cuts… Please follow and like us:

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Bitcoin Exchanges Struggle To Work With Wary Banks

Cryptocurrency exchanges around the world are under an unprecedented amount of pressure. Meanwhile, Quartz reported Indian banks are delaying routine processes for local exchange platforms such as Koinex for several weeks. “A tussle between our payment service partner and their bank has caused an indefinite delay in the settlement of a large portion of deposits to… Please follow and like us:

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China’s tough measures rid property market of speculation fever

BEIJING – China’s property market is expected to cool in the fourth quarter as real estate investment growth faltered, monthly property sales value dropped and home prices declined in hot spot cities, economists said. The property market remained stable in October, with new residential housing prices seeing slower growth year-on-year in 13 of the 15 major… Please follow and like us:

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China’s central bank bumps up rates in ‘mini-tightening’

China will likely tighten monetary policy next year while increasing policy flexibility to ensure sufficient credit supply and to prevent overtightening from hurting the economy, economists said on Thursday after the US Federal Reserve rate hike. The People’s Bank of China, the central bank, raised the rates of seven-day and 28-day reverse repo agreements (through which… Please follow and like us:

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RMB internationalization makes remarkable progress: report

BEIJING – There has been remarkable progress in global use of the renminbi (yuan), which is set to continue, according to a central bank report. “The Chinese currency has taken steady steps on its global march and the yuan’s use on the capital account has been liberalized steadily,” said a People’s Bank of China (PBOC) report.… Please follow and like us:

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PBOC says stable yuan likely soon

A clerk counts cash at a bank in Taiyuan, capital of Shanxi province. [Photo/China News Service] Central bank to press ahead with efforts to internationalize currency Yuan exchange rates will have a more stable foundation after the 19th National Congress of the Communist Party of China and the market will have a bigger role in determining… Please follow and like us:

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Forex reserves hit high for 2017

China’s foreign exchange reserves in September rose to their highest level so far this year to reach $3.11 trillion, marking growth for the eight straight month, as capital outflows eased thanks to the stronger renminbi, central bank data showed on Monday. The reserves were up by $17 billion last month, slightly higher than the market expectation… Please follow and like us:

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RMB closer to international currency status

Exchange rate stability, nation’s reserve growth signs of yuan maturity With the exchange rate of the renminbi steadily rising, and the Belt and Road Initiative furthering Chinese investment overseas, China is approaching the day when it can promote the internationalization of its currency, said an adviser to the People’s Bank of China. Sheng Songcheng, a central… Please follow and like us:

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China Seeks Greater Cryptocurrency Control, But Will Drive Capital To Privacy Tokens

In the last few weeks, China has moved against cryptocurrencies. First, they acted to ban funding for Initial Coin Offerings (ICOs). With immediate effect, the People’s Bank of China (PBoC) banned ICOs, dubbing them as an illegal scheme for money laundering, and mandated organizations and individuals that have completed fundraising through ICOs to make relevant arrangements… Please follow and like us:

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China moves to shut down cryptocurrency exchanges

BEIJING – Chinese regulators are taking steps to shut down the country’s cryptocurrency exchanges and ban trading of digital cryptocurrency to rein in financial risks. All Beijing-based cryptocurrency exchanges had to halt new user registration by midnight on Sept 15 and publicly notify users when they formally close, according to a policy document issued by local… Please follow and like us:

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PBOC to check money laundering

BEIJING – A senior central bank official has stressed the need for increased efforts to combat money laundering. Yin Yong, vice-governor of the People’s Bank of China, said authorities should fight money laundering as an important task in “preventing and controlling financial risks and safeguarding financial system security.” China faces a “severe and complicated” situation concerning… Please follow and like us:

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China Might Shut Down All Bitcoin Trading Platforms

Chinese regulators are bringing down the hammer on the cryptocurrency industry. First, China banned all initial coin offerings last week. Then multiple newspapers and a few trusted Chinese sources reported the country could soon shut down all local bitcoin exchange platforms. At the moment, there are more rumors floating around than actual policies. On Wednesday, China’s… Please follow and like us:

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China raises yuan rate to 16-month high as dollar sags

China raises yuan rate to 16-month high as dollar sags China raised the exchange rate for the yuan against the US dollar for the 10th consecutive session on Friday, pushing the unit to its highest level in 16 months. The People’s Bank of China (PBOC) set the value of the yuan — also known as the renminbi — at 6.5032 to the dollar, up 0.36 percent… Please follow and like us:

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China steps up financial regulation to address risks

BEIJING – China’s ban on Initial Coin Offerings (ICOs), a digital coin fundraising scheme, was only part of a broader campaign to curb the country’s financial risks. In an announcement Monday, China’s central bank ordered a complete halt on new ICO offerings, in which technology start-ups issue their own digital coins, or “tokens,” to investors to… Please follow and like us:

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