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Top related persons:
Tingshu Wang - 2 Zhu Qibing - 2 Lin Li - 1 Fu Wanjun - 1 NIM - 1 Xiangming Hou - 1 Rong Ma - 1 Tang - 1
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Beijing China Agricultural Bank of China Hong Kong Rights SHANGHAI SINGAPORE Shanghai Singapore
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REUTERS - 2 People's Bank of China - 2 BOC International China - 2 Thomson - 2 Agricultural Bank of - 1 Bank - 1 BEIJING - 1 HK - 1

Search resuls for: "Zhu Qibing"


2 mentions found


☆ Chinese banks to cut existing mortgage rates as property crisis deepens
  + stars: | 2023-08-29 | by ( ) www.reuters.com   time to read: +5 min
The reduction in existing mortgage rates will come amid several other property, economic and market support measures Beijing has announced over the past few weeks, as concerns mount about the health of the world's second-largest economy. Chinese lenders were widely expected to cut interest rates on existing mortgages after the PBOC earlier this month said that it would guide commercial banks to do so. The central bank's proposal to cut rates, which came after a wave of early repayments of mortgage debt, aims to reduce the interest rate costs for homebuyers and to boost consumption in a slowing economy. Adjusting existing mortgage rates is conducive to easing pressure on banks from mortgage prepayment, Lin Li, vice president of Agricultural Bank of China Ltd (601288.SS), the country's No.3 lender by assets, said earlier on Tuesday. Cutting deposit rates could help banks to maintain a proper level of NIM, one of the sources said.
Persons: Tingshu Wang, Zhu Qibing, Lin Li, Fu Wanjun, NIM, Xiangming Hou, Rong Ma, Tang, Ryan Woo, Selena Li, Sumeet Chatterjee, Alex Richardson, Sharon Singleton Organizations: Agricultural Bank of, REUTERS, Bank, BEIJING, People's Bank of China, Reuters, HK, BOC International China, Citigroup, Agricultural Bank of China Ltd, Agricultural Bank, China's, Thomson Locations: Agricultural Bank of China, Beijing, China, Hong Kong
☆ Analysis: Case builds for China's banks to cut deposit rates
  + stars: | 2023-08-25 | by ( Winni Zhou Tom Westbrook | Winni Zhou | Tom Westbrook | ) www.reuters.com   time to read: +5 min
REUTERS/Tingshu Wang/File Photo Acquire Licensing RightsSHANGHAI/SINGAPORE, Aug 25 (Reuters) - China's banks will cut deposit rates soon as part of efforts to make mortgages more affordable and revive property demand, analysts reading China's cryptic policy messages reckon. But China did not opt for a broad rate cut that would further depress banks' narrow net interest margins, instead deferring to banks to cut their deposit rates and give themselves room to cheapen mortgages, analysts said. Lowering deposit rates will give banks much needed wiggle room to cut mortgage rates. "Further reductions to the deposit rates are 'arrows on the string,'" said Wang Yifeng, banking analyst at Everbright Securities. He also expects a tweak to rules so that existing mortgage rates can be reset lower.
Persons: Tingshu Wang, Wang Yifeng, Zhu Qibing, LPR, Zhu, Lu Ting, Lu, Xing Zhaopeng, Xing, Winni Zhou, Tom Westbrook, Samuel Shen, Vidya Ranganathan, Jacqueline Wong Organizations: China Securities Regulatory Commission, REUTERS, Rights, Bankers, Everbright Securities, People's Bank of China, BOC International China, Nomura, ANZ, Thomson Locations: China, Beijing, Rights SHANGHAI, SINGAPORE, Shanghai, Singapore
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