China will deepen its regional financial reforms, using various policy tools to lower corporate funding costs, especially for small firms, Chen Yulu, a vice governor of the People’s Bank of China, reports Trend referring to Reuters. Chinese policymakers have pledged to maintain support for the slowing economy and prod banks to lend more to small and private firms that are vital for growth and employment. “We will use a variety of tools and explore effective ways to reduce financing costs of enterprises, especially for small, private firms,” Chen told reporters at a briefing. China has been experimenting with several regional reform schemes, including one on supporting small firms in Zhejiang and Henan, a scheme on green financing in provinces including Zhejiang, Guangdong and Guizhou, the central bank said. Other schemes aim to promote financing support for the Guangdong-Hong Kong-Macau Greater Bay Area and other key regional development plans, and a pilot on … [Read more...] about China central bank says will deepen regional financial reforms
China industrial bank
Markets in Asia were largely down in morning trade on Monday as the lack of a US-China trade deal cast a cloud over the market. Investors watched the latest developments warily in the trade war between the world's top two economies, after negotiations in Washington ended Friday without agreement and a tariff hike on Chinese imports went into effect. White House economic advisor Larry Kudlow said US President Donald Trump and China's Xi Jinping could meet next month on the sidelines of the G20 summit to hash out their differences on trade -- but no new talks are yet scheduled. "Central banks this year have switched into this dovish pivot -- that's allowed the market to continue higher whatever the weather" up until recently, Eleanor Creagh, Australia market strategist at Saxo Capital Markets, told Bloomberg Television. "With the breakdown of these trade negotiations, people will have to sit back and think how far this dovish central bank stance can really continue to carry us." Trump … [Read more...] about Lack of US-China trade deal weighs on Asian markets
China’s first privately-controlled high speed railway project signed a loan contract for 28.1 billion yuan ($4.18 billion) on Friday, the official Xinhua News Agency reported, Trend reports citing Reuters. Xinhua said China Development Bank, Industrial and Commercial Bank of China, China Construction Bank, Agricultural Bank of China and two others will provide the loan for the project, which is controlled by a consortium led by Fosun International Ltd and the Zhejiang provincial government. Total investment planned for the railway project is about 44.89 billion yuan, the report said. China has ramped up measures to support private companies by resolving its high costs and difficulties in financing as growth in the world’s second largest economy is facing increasing downward pressure. Follow Trend on Telegram. Only most interesting and important news … [Read more...] about China’s first private high-speed rail project gets $4 billion financing
Kristian Rouz — China's economy has posted an unexpected first quarter rebound, defying concerns about trade disruptions and underinvestment at home. Experts say it's too early to suggest whether this mild recovery could point to a longer-term stabilisation of the Chinese GDP growth rate, as the rebound has largely been attributed to the limited central bank support introduced last year. READ MORE: Bank of China Opens its First Branch in India to Boost Financial Cooperation According to the Chinese government Wednesday, the nation's first quarter GDP came in at 6.4 percent — beating the earlier expectations of either 6.2 percent (according to market consensus) or 6.3 percent (according to Reuters' advance estimate). © AP Photo / Richard DrewReport: China's Debt to Rise Amid Decreasing 'Shadow Banking' RisksThe upbeat figure comes after the People's Bank of China (PBOC) … [Read more...] about Mainland China Q1 GDP Beats Expectations Amid Central Bank Stimulus
EU-China Comprehensive Strategic Partnership in 2003, Brussels adopted a shift in its approach towards what is currently the world’s second-biggest economy. In the new EU Commission document EU-China: A strategic outlook, which came out in March, China is mentioned as a “systemic rival” of Europe. The departure from EU’s China Policy that views Beijing as a “strategic partner”, which was followed for more than 15 years, towards a new policy that sees China as a “systemic rival” is a very meaningful change. It symbolises the EU’s recognition of China as an economic and technological rival and at the same time as a fellow global power that is following a different development and governance model. China’s model of state-led and planned growth under the Chinese Communist Party (CPP) and led by state-owned enterprises (SOEs), both of which are longstanding and unnegotiable cornerstones of China defining itself as a socialist … [Read more...] about Is the UK prepared for a Super China and its global New Silk Road?