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4 mentions found


☆ China launches probe into surrogacy, fake paternity tests in Wuhan
  + stars: | 2023-11-29 | by ( ) www.cnbc.com   time to read: +1 min
A nurse cares for a newborn at the Women and Children's Hospital in Fuyang City, Anhui Province, China, Aug 8, 2022. Chinese authorities have suspended a hospital and a judicial institute in the city of Wuhan from conducting some services after they were accused of surrogacy and issuing fake paternity results. The suspension comes amid several investigations related to the issuance of fake birth certificates as China, where surrogacy is illegal, tries to boost its birth rate. Wuhan Puren Hospital has been suspended from releasing birth certificates and Wuhan Ruiboxiang Judicial Appraisal Institute has been suspended from providing judicial appraisal services, the Wuhan Municipal Health Commission said on Tuesday. "We will seriously pursue accountability in accordance with laws and regulations based on the investigation," the commission said.
Organizations: Children's, Wuhan Puren, Wuhan Municipal Health Commission Locations: Fuyang City, Anhui Province, China, Wuhan, Wuhan Ruiboxiang
☆ China leaves benchmark lending rates unchanged in September
  + stars: | 2023-09-20 | by ( Clement Tan | ) www.cnbc.com   time to read: 1 min
Photo taken on Aug 17, 2023 shows US dollars and Chinese yuan in Fuyang city, East China's Anhui province. China's banks kept their benchmark loan rates unchanged for September, after the slowdown in the world's second-largest economy showed signs of stabilization following recent policy support. The People's Bank of China kept its one-year loan prime rate — the peg for most household and corporate loans in China — unchanged at 3.45%. The five-year benchmark loan rate — the peg for most mortgages — was held at 4.2%, according to a statement Wednesday from the People's Bank of China. Wednesday's announcement is aligned with economists' expectations for September after the PBOC kept its medium-term policy rate steady last Friday, following a second cut in the reserve requirement ratio requirements this year for all banks announced last Thursday.
Organizations: People's Bank of China Locations: Fuyang city, East China's Anhui, China
☆ China's central bank steps up intervention after yuan hits 16-year low against greenback
  + stars: | 2023-08-18 | by ( Lim Hui Jie | ) www.cnbc.com   time to read: +2 min
The yuan midpoint is a reference point for trading, and caps the range between +2% and -2%. Stock Chart Icon Stock chart iconFriday's move comes after the onshore yuan fell to a 16-year low against the greenback on Wednesday, trading at 7.2981. The onshore yuan strengthened 0.1% against the greenback at 7.2836 on Friday, and the offshore yuan weakened marginally to 7.3057. The onshore yuan is traded on the mainland and referred to as the CNY, while the offshore yuan — traded in markets like Hong Kong and Singapore — is referred to as the CNH. It vowed to "maintain the basic stability of the RMB exchange rate at a reasonable and balanced level, and resolutely prevent the risk of exchange rate overshoot."
Persons: Vishnu Varathan Organizations: Nurphoto, People's Bank of, U.S, Reuters, Mizuho Bank Locations: Fuyang city, East China's Anhui, People's Bank of China, Hong Kong, Singapore, Asia, Oceania
☆ Asia-Pacific markets slip ahead of China factory activity data
  + stars: | 2022-11-30 | by ( Abigail Ng | ) www.cnbc.com   time to read: 1 min
Workers work on a speaker production line at Luyang Electronics Co LTD in Fuyang City, Anhui Province, China, Oct 31, 2022. Asia-Pacific shares fell on Wednesday ahead of the release of data on China's November factory activity, in which analysts are expecting to see a contraction for the second time in a row. The Nikkei 225 in Japan fell 0.52% and Topix slipped 0.42%. The MSCI's broadest index of Asia-Pacific shares outside Japan was 0.14% lower. Japan's Fast Retailing and electric-vehicle maker Xpeng are set to report earnings, and Fed Chair Jerome Powell will be delivering a speech at the Brookings Institution on Wednesday.
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