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Top related persons:
Biden - 1 Brent Neiman - 1 Xuan Changneng - 1
Top related locs:
Shanghai United States China
Top related orgs:
Biden - 1 U.S . - 1 Treasury - 1 Federal Reserve - 1 Securities and Exchange Commission - 1 People’s Bank - 1

Search resuls for: "Xuan Changneng"


5 mentions found


☆ U.S. Officials to Visit China for Economic Talks as Trade Tensions Rise
  + stars: | 2024-08-12 | by ( Alan Rappeport | More About Alan Rappeport | ) www.nytimes.com   time to read: +1 min
A group of senior Biden administration officials is traveling to Shanghai this week for a round of high-level meetings intended to keep the economic relationship between the United States and China on stable footing amid mounting trade tensions between the two countries. Officials are expected to discuss ways to maintain economic and financial stability, capital markets and efforts to curb the flow of fentanyl into the United States. Although communication between the United States and China has improved over the past year, the economic relationship remains fraught because of disagreements over industrial policy and China’s dominance over green energy technology. The United States is also restricting American investments in Chinese sectors that policymakers believe could threaten national security. They are expected to meet with the People’s Bank of China’s deputy governor, Xuan Changneng, and other senior Chinese officials.
Persons: Biden, Brent Neiman, Xuan Changneng Organizations: Biden, U.S ., Treasury, Federal Reserve, Securities and Exchange Commission, People’s Bank Locations: Shanghai, United States, China
☆ China to boost regulatory oversight of digital economy -c.bank deputy governor
  + stars: | 2023-03-31 | by ( ) www.reuters.com   time to read: +2 min
BOAO, China, March 31 (Reuters) - China will beef up its regulatory oversight of the digital economy, as new technologies, especially new forms of finance, should not be blindly accepted and recognised, a deputy governor of China's central bank said on Friday. Digital currencies and newly invented cryptocurrencies, rather than solving problems in finance, can in fact create new challenges, Xuan Changneng, a deputy governor of the People's Bank of China, said at the annual Boao Forum in Hainan province. He did not spell out steps that will be taken to boost oversight. China itself has launched its own digital renminbi, or yuan, but it is little used. The National Financial Regulatory Administration will absorb the China Banking and Insurance Regulatory Commission's responsibilities and take over some supervisory functions from the central bank and the securities regulator.
☆ China keeps lending benchmarks unchanged in March, as expected
  + stars: | 2023-03-20 | by ( Reuters Staff | ) www.reuters.com   time to read: +3 min
SHANGHAI (Reuters) - China kept its benchmark lending rates unchanged for the seventh straight month in March, as expected, with the economy already benefiting from policy actions taken last week as it recovers from the pandemic. On Monday, the one-year loan prime rate (LPR) was kept at 3.65%, while the five-year LPR was unchanged at 4.30%. (Graphic: China lending rates unchanged in March here)In a Reuters poll conducted last week, all 22 participants predicted no change to either loan prime rate. “The central bank’s RRR cut was more of an emergency response to prevent overseas banking crisis from spilling over to China,” Xing said. An RRR cut nonetheless also promotes economic growth, so economists thought that last week’s made an LPR cut less likely.
☆ China's c.bank warns SVB failure shows impact of rapid global rate hikes- state media
  + stars: | 2023-03-18 | by ( ) www.reuters.com   time to read: +1 min
March 18 (Reuters) - A senior official at the People's Bank of China said on Saturday the collapse of Silicon Valley Bank (SVB) showed how rapid monetary policy shifts were having spillover effects, state-owned newspaper Shanghai Securities News reported. Silicon Valley Bank's balance sheet characteristics made it more sensitive to interest rates changes and ultimately led to risk, the newspaper cited him as saying. "Based on the current situation, there is still uncertainty about whether inflation in the major developed economies will fall significantly in the short term, and continuing to maintain relatively high interest rates may also have an adverse impact on the steady operations of the banking and financial system," he said. SVB Financial Group (SIVB.O) on Friday sought protection under Chapter 11 of the U.S. bankruptcy code, days after its former unit Silicon Valley Bank was taken over by U.S. regulators. Reporting by Juby Babu in Bengaluru and Brenda Goh in Shanghai; Editing by William Mallard and Sonali PaulOur Standards: The Thomson Reuters Trust Principles.
☆ China central bank head likely to step down amid reshuffle
  + stars: | 2022-10-22 | by ( Kevin Yao Xie Yu | Kevin Yao | Xie Yu | ) www.reuters.com   time to read: +3 min
BEIJING/HONG KONG, Oct 22 (Reuters) - China's central bank chief Yi Gang is likely to step down after he was dropped from an elite body of the ruling Communist Party, with a former central banker a leading contender to succeed him, sources close to the central bank said. Yi is among pro-reform policymakers not named on Saturday as full or alternate members of the party's new Central Committee. Also excluded were outgoing Premier Li Keqiang, 67, economic czar Liu He, 70, and central bank party chief Guo Shuqing, 66. Yin Yong, deputy party chief in the capital Beijing who worked as a deputy central bank governor from 2016 to 2018, is a leading candidate to replace Yi, sources close to the central bank said. Xuan Changneng was named deputy central bank governor on Thursday.
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