China expanded its support for the beleaguered yuan with a plan to issue a record amount of bills in the Hong Kong market to mop up excess liquidity.
The People’s Bank of China will issue central bank bills in Hong Kong next week, a tool that is typically used to stabilize the yuan’s exchange rate in the offshore market.
The onshore bonds issued by the Ministry of Finance and the policy banks on the mainland under the same programme will also be used as margin collateral for derivatives transactio
The People's Bank of China will issue central bank bills worth 60 billion yuan ($8.18 billion) in Hong Kong on Jan 15, which experts said sends a policy signal of strengthening offshore renminbi liquidity management and stabilizing the yuan exchange rate.
The People's Bank of China (PBOC) and the Hong Kong Monetary Authority (HKMA) will offer a 100 billion yuan (US$13.6 billion) liquidity facility for banks to help their customers obtain yuan funding for one, three and six months to support trade.
Mainland’s property market is improving, PBOC governor Pan Gongsheng says, reiterating importance of special-purpose bonds for buying idle land and unsold homes.
Many mistook the Chinese Communist Party’s (CCP) tightening of what many believe to be an iron grip on Hong Kong in recent years as a testament to some sort of grandiose tussle of philosophies
The bank halted its government bond purchases Friday in an attempt to slow a one-way bonds trade that’s put unwanted downward pressure on the yuan, analysts say.
China is set to slash pay for staff at its top three financial regulators, including the central bank, by about half, as part of a regulatory revamp unveiled in 2023 to bring their salaries in line with other civil servants,
China's central bank chief said on Monday the government will support moderately loose monetary policy to maintain ample liquidity as it tries to stimulate the economy and soften the impact of geopolitical uncertainties.
China announced more tools to support its weak currency on Monday, unveiling plans to park more dollars in Hong Kong to bolster the yuan and to improve capital flows by allowing companies to borrow more overseas.
Offshore RMB activities experienced a setback, however, after the People’s Bank of China changed the way it set the central parity rate in August 2015. RMB deposits in Hong Kong fell from 1.0 ...