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"There's increasing evidence that the cyclical upturn in the global electronics sector is driving a bottoming-out of global trade and China's trade data is the latest sign," said Xu Tianchen, senior economist at the Economist Intelligence Unit. Reuters GraphicsSouth Korean exports to China, a leading indicator of China's imports, fell at their slowest pace in 11 months in September. Semiconductors make up the bulk of their trade, signalling improving appetite among Chinese manufacturers for components to re-export in finished goods. However, Lv Daliang, spokesperson of the General Administration of Customs, said at a press conference on Friday that China's trade still faces a complex and severe external environment. Overall, though, total merchandise imports fell at a slower pace, down 6.3%, reflecting a gradual recovery in domestic demand.

Persons: Smart, David Kirton, Xu Tianchen, it's, Julian Evans, Pritchard, Zou Lan, Premier Li Qiang, Li, Robert Carnell, Kevin Yao, Albee Zhang, Shri Navaratnam, Kim Coghill Organizations: Trade, REUTERS, Economist Intelligence Unit, Reuters Graphics South, Semiconductors, Administration of Customs, ASEAN, Federal Reserve, China Economics, Capital Economics, People's Bank of, Premier, Bloomberg, ING, Thomson Locations: Qianhai, Shenzhen, Guangdong, China, BEIJING, United States, Europe, Stocks, People's Bank of China, Beijing, Asia, Pacific

☆ Yellen, China's top central banker talk about debt, economic developments -US Treasury
▼ + stars: | 2023-10-13 | by ( ) www.reuters.com time to read: +1 min

U.S. Secretary of Treasury Janet Yellen and People’s Bank of China Governor Pan Gongsheng pose before holding a bilateral meeting on the fifth day of the annual meeting of the International Monetary Fund and the World Bank, following last month's deadly earthquake, in Marrakech, Morocco, October 13, 2023. REUTERS/Susana Vera Acquire Licensing RightsMARRAKECH, Morocco, Oct 13 (Reuters) - U.S. Treasury Secretary Janet Yellen and People's Bank of China Governor Pan Gongsheng on Friday held a "substantive and productive" meeting that covered debt, financial architecture and future economic communications, a Treasury spokesperson said. "During the substantive and productive meeting, Secretary Yellen and Governor Pan exchanged views on macroeconomic and financial developments," the spokesperson said in an emailed statement after the meeting on the sidelines of International Monetary Fund and World Bank meetings in Morocco. "They also discussed the international financial architecture and debt issues, as well as how to make the Financial Working Group co-chaired by Treasury and the PBOC substantive and productive," the spokesperson said, referring to one of two new U.S.-China economic communications groups launched in September. Reporting by David Lawder; Editing by Alex RichardsonOur Standards: The Thomson Reuters Trust Principles.

Persons: Janet Yellen, Pan Gongsheng, Susana Vera, Yellen, Pan, David Lawder, Alex Richardson Organizations: People’s Bank of China, International Monetary Fund, World Bank, REUTERS, Rights, . Treasury, People's Bank of China, Treasury, Thomson Locations: Marrakech, Morocco, Rights MARRAKECH, China

☆ China FX regulator says CBDC features could improve monetary policy
▼ + stars: | 2023-10-13 | by ( ) www.reuters.com time to read: +2 min

China's official app for digital yuan is seen on a mobile phone next to 100-yuan banknotes in this illustration picture taken October 16, 2020. REUTERS/Florence Lo/Illustration/File photo Acquire Licensing RightsSHANGHAI, Oct 13 (Reuters) - A Chinese foreign exchange regulator official said "programmable features" of a central bank digital currency (CBDC) could help enhance the effectiveness of monetary policy tools, state media reported on Friday. China is among a host of countries developing their own CBDCs - digital tokens issued by central banks - although adoption is still in its early stages. Lu said he expected the People's Bank of China (PBOC) could explore the features to adjust rates of CBDC, which could also be used manage the macro economy. Transactions using China's CBDC, the e-CNY, hit 1.8 trillion yuan ($249.33 billion) at end-June.

Persons: Florence Lo, Lu Lei, Lu, Sam Holmes Organizations: REUTERS, Rights, State Administration of Foreign Exchange, Shanghai Securities News, People's Bank of China, Bank of International, Shanghai, Thomson Locations: China

People walk past the headquarters of the People's Bank of China (PBOC), the central bank, in Beijing, China September 28, 2018. Going by Wall Street's decline on Thursday, sparked by a spike in long-dated U.S. bond yields following a weak 30-year auction, the mood will be one of caution, at best. Annual producer price inflation has been negative for a year, although consumer inflation only briefly dipped below zero in July. On Thursday the yield curve flattened the most in a single day since March, a 'bull' flattening led by heavy buying of long-dated bonds. Here are key developments that could provide more direction to markets on Friday:- China PPI and CPI inflation (September)- China trade (September)- Singapore policy decision and GDP (Q3)By Jamie McGeever; Editing by Josie KaoOur Standards: The Thomson Reuters Trust Principles.

Persons: Jason Lee, Jamie McGeever, Stocks, Josie Kao Organizations: People's Bank of China, REUTERS, PPI, CPI, September's PPI, Reuters, Treasury, China PPI, Thomson Locations: Beijing, China, U.S, Singapore, South Korea, India

☆ Dollar stalls as dovish Fed tone dials down rate expectations
▼ + stars: | 2023-10-10 | by ( Tom Westbrook | ) www.reuters.com time to read: +4 min

REUTERS/Dado Ruvic/Illustration/File Photo Acquire Licensing RightsSINGAPORE, Oct 10 (Reuters) - The dollar remained steady against major peers on Tuesday, after a pause in its rally following a slight dovish shift in Federal Reserve officials' tone. "If long-term interest rates remain elevated because of higher term premiums, there may be less need to raise the Fed funds rate," said Dallas Fed president Lorie Logan -- a notable shift from previously hawkish rhetoric. Fed Vice Chair Philip Jefferson said the central bank would need to "proceed carefully" given the recent rise in yields. "There are another 13 Fed speakers scheduled this week which could see this theme develop further," said analysts at Westpac. "The idea that the increases in bond yields have done part of the tightening job appears to be gaining traction among some Fed officials," said OCBC rates strategist Frances Cheung.

Persons: Dado Ruvic, Lorie Logan, Philip Jefferson, Frances Cheung, Ken Cheung, Tom Westbrook, Sam Holmes, Simon Cameron, Moore Organizations: REUTERS, Rights, Federal, New, East, Swiss, Palestinian, Dallas, Fed, Westpac, Columbus, People's Bank of, Thomson Locations: Rights SINGAPORE, Asia, New Zealand, Israeli, Israel, Tokyo, People's Bank of China

☆ Russia ramps up China yuan payments for imports amid sanctions -EBRD
▼ + stars: | 2023-09-27 | by ( Jorgelina Do Rosario | ) www.reuters.com time to read: +2 min

"After Russia’s full-scale invasion of Ukraine in February 2022 and the imposition of economic sanctions by the EU, US and a number of other advanced economies, Russian imports became increasingly invoiced in yuan," according to the paper led by economists Maxim Chupilkin and Beata Javorcik. The use of the Chinese yuan for trade with Russia has also increased for third countries that did not impose economic sanctions but hold a currency swap line with the People's Bank of China (PBOC), such as Mongolia and Tajikistan. Overall, economic sanctions could herald a gradual shift away from the U.S. dollar, the study said. "The dominance of the U.S. dollar makes international sanctions more effective, as firms engaged in international trade overwhelmingly require payments to be cleared through the U.S. banking system," the authors found. "At the same time, the use of economic sanctions may over time reduce attractiveness of the U.S. dollar as a vehicle currency and hence its dominance."

Persons: Maxim Chupilkin, Beata Javorcik, SWIFT, Jorgelina, Karin Strohecker, Philippa Fletcher 私 Organizations: European Bank for Reconstruction, EU, U.S, People's Bank of China, U.S . Locations: Ukraine, China, Russia, Mongolia, Tajikistan, Russian, Rosario

☆ China's central bank to use 'precise, forceful' policy to bolster recovery
▼ + stars: | 2023-09-27 | by ( ) www.reuters.com time to read: +3 min

Paramilitary police officers stand guard in front of the headquarters of the People's Bank of China, the central bank (PBOC), in Beijing, China September 30, 2022. REUTERS/Tingshu Wang/File Photo Acquire Licensing RightsBEIJING, Sept 27 (Reuters) - China's central bank said on Wednesday it would step up policy adjustments and implement monetary policy in a "precise and forceful" manner to support an economy whose recovery was improving with "increasing momentum". The central bank will guide banks to lower borrowing costs for companies and households and support banks to replenish capital, it said. China will step up government investment and policy incentives to spur private investment and promote a recovery in prices from a low level, the central bank said. The central bank also pledged to promote the healthy and stable development of the property market, implementing policies to lower down payment ratios and mortgages rates for some home buyers.

Persons: Tingshu Wang, Kevin Yao, Himani Sarkar, Christian Schmollinger, Simon Cameron, Moore Organizations: People's Bank of China, REUTERS, Rights, Beijing, Thomson Locations: Beijing, China, Rights BEIJING, megacities

☆ China central-bank adviser proposes structural reforms to revive economy
▼ + stars: | 2023-09-24 | by ( ) www.reuters.com time to read: +2 min

[1/2] Paramilitary police officers stand guard in front of the headquarters of the People's Bank of China, the central bank (PBOC), in Beijing, China September 30, 2022. REUTERS/Tingshu Wang/File Photo Acquire Licensing RightsSHANGHAI, Sept 24 (Reuters) - China has limited room for further monetary policy easing, and it should pursue structural reforms such as encouraging entrepreneurs rather than counting on macroeconomic policies to revive growth, a central bank adviser said on Sunday. "More importantly, we will again miss the opportunity for structural reforms." Liu proposed on Sunday a new round of structural reforms that could aid the economy immediately, while also injecting long-term growth momentum. Liu said on Sunday that China should give clearer recognition to private businesses' status, both ideologically and politically.

Persons: Tingshu Wang, Liu Shijin, Liu, Jamie Freed Organizations: People's Bank of China, REUTERS, Rights, People's Bank of China's, U.S, Bund Summit, Development Research Center, State Council, Shanghai, Thomson Locations: Beijing, China, Shanghai

☆ China pledges to accelerate introduction of more economic policies
▼ + stars: | 2023-09-20 | by ( ) www.reuters.com time to read: +2 min

People stand at a shopping mall near the CCTV headquarters and China Zun skyscraper, in Beijing's central business district (CBD), China September 7, 2023. China will stick to deepening reforms and further opening up and will fully mobilize the enthusiasm of businesses, CCTV said. "China will accelerate the introduction of relevant policies and work implementation, as well as further consolidate the economy's upward trend," CCTV said. Feedback from an inspection and survey of the country's economic recovery was presented at the meeting, according to state media. Responding to the advice gathered during the survey, relevant government departments should make plans and carry out in-depth research considering 2024's economic work, the state media said.

Persons: Tingshu Wang, Premier Li Qiang, Yi Gang, Ellen Zhang, Liz Lee, Christina Fincher, William Maclean Organizations: REUTERS, Rights, Premier, People's Bank of China, Asian Development Bank, Thomson Locations: China, Beijing's, Rights BEIJING

☆ China keeps benchmark rates unchanged as economy finds footing
▼ + stars: | 2023-09-20 | by ( ) www.reuters.com time to read: +3 min

Paramilitary police officers stand guard in front of the headquarters of the People's Bank of China, the central bank (PBOC), in Beijing, China September 30, 2022. The one-year loan prime rate (LPR) was kept at 3.45%, while the five-year LPR was unchanged at 4.20%. Most new and outstanding loans in China are based on the one-year LPR, while the five-year rate influences the pricing of mortgages. Despite the steady LPR, some market watchers said recent property easing measures suggest cuts to the five-year LPR and more policy stimulus are likely in coming months. China cut the one-year benchmark lending rate in August but surprised markets by keeping the five-year rate unchanged.

Persons: Tingshu Wang, Xing Zhaopeng, Xing, Wang Tao, Winni Zhou, Tom Westbrook, Sam Holmes Organizations: People's Bank of China, REUTERS, Rights, ANZ, UBS, Thomson Locations: Beijing, China, Rights SHANGHAI, SINGAPORE, United States

☆ Morning Bid: Fed vigil sees oil recoil and UK surprise
▼ + stars: | 2023-09-20 | by ( ) www.reuters.com time to read: +4 min

Canada's consumer prices raced ahead at an unexpectedly brisk clip last month, but outlier Britain got a positive surprise as inflation there fell back in August. Starts swooned last month, but building permits - which many see as a better gauge of future activity - beat forecasts and pushed higher. Although Asia bourses were in the red earlier, European stocks pushed higher and Wall St futures were positive ahead of the open too. Relief in the oil market pulled two-year Treasury yields back about 5 basis points from two-month highs at 5.12%. Key developments that should provide more direction to U.S. markets later on Wednesday:* U.S. Federal Reserve policy decision, new economic projections and press conference.

Persons: Mike Dolan, Asia bourses, Mills, Toby Chopra Organizations: Federal Reserve, People's Bank of China, Bank of England, Fed, Friday's Bank of Japan, Arm Holdings, U.S, New, . Federal, Bank of Canada, FedEx, United Nations General Assembly, Reuters Graphics Reuters, Reuters, Reuters Graphics Housing, Thomson Locations: U.S, Asia, Europe, New York City, New York

☆ China leaves benchmark lending rates unchanged, as expected
▼ + stars: | 2023-09-20 | by ( ) www.reuters.com time to read: +2 min

REUTERS/Tingshu Wang/File Photo Acquire Licensing RightsSHANGHAI/SINGAPORE, Sept 20 (Reuters) - China kept benchmark lending rates unchanged at a monthly fixing on Wednesday, matching market expectations, as fresh signs of economic stabilisation and a weakening yuan reduced the need for immediate monetary easing. The one-year loan prime rate (LPR) was kept at 3.45%, while the five-year LPR was unchanged at 4.20%. Most new and outstanding loans in China are based on the one-year LPR, while the five-year rate influences the pricing of mortgages. In a Reuters survey of 29 market analysts and traders, all participants predicted no change to the one-year LPR, while a vast majority of them also expected the five-year rate to remain steady. China cut the one-year benchmark lending rate in August but surprised markets by keeping the five-year rate unchanged.

Persons: Tingshu Wang, Xing Zhaopeng, Xing, Winni Zhou, Tom Westbrook, Sam Holmes Organizations: People's Bank of China, REUTERS, Rights, ANZ, Thomson Locations: Beijing, China, Rights SHANGHAI, SINGAPORE

☆ 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 should step up policy support for economy- ex-PBOC head
▼ + stars: | 2023-09-20 | by ( ) www.reuters.com time to read: +2 min

Vehicles drive among the buildings during the evening rush hour in Beijing's central business area, China November 21, 2018. REUTERS/Jason Lee/File Photo Acquire Licensing RightsBEIJING, Sept 20 (Reuters) - China should step up policy support for the economy while promoting reforms to help achieve the annual growth target of around 5%, Yi Gang, former governor of the People's Bank of China (PBOC), said in remarks published on Wednesday. That will help China achieve the 2023 growth target of around 5%, Yi said. The government should move to boost the weak confidence of private firms and tackle local government debt risks that have hampered local authorities' ability to support growth, Yi said. The central bank should use its structural policy tools to support "rigid and improved housing demand", he said.

Persons: Jason Lee, Yi Gang, Yi, Kevin Yao, Chizu Organizations: REUTERS, Rights, People's Bank of China, Political Consultative, Thomson Locations: China, Rights BEIJING

☆ Chinese yuan's depreciation pressure against dollar is temporary - state media
▼ + stars: | 2023-09-19 | by ( ) www.reuters.com time to read: +2 min

SHANGHAI/SINGAPORE, Sept 19 (Reuters) - The depreciation pressure on the Chinese yuan against the U.S. dollar is temporary, state media said on Tuesday, noting that its value against major trading partner currencies is stable. Widening yield differentials with other major economies, particularly the United States, have piled downward pressure on the Chinese currency against the dollar. "The yuan exchange rate still depends on economic fundamentals in the long run," the newspaper said in the commentary. "Financial regulators will take action when needed, resolutely correct unilateral and pro-cyclical behaviors, deal with activities that disrupts market orders, and prevent the exchange rate overshooting risks." "Based on previous FX reserve requirement ratio (RRR) reductions, the cut could ease depreciation pressure, prevent overshoot risks and boost confidence in the short term," it said.

Persons: Winni Zhou, Tom Westbrook, Shri Navaratnam Organizations: U.S ., People's Bank of China, FX, Thomson Locations: SHANGHAI, SINGAPORE, United States

A woman walks past the headquarters of the People's Bank of China (PBOC), the central bank, in Beijing, China September 28, 2018. REUTERS/Jason Lee/File Photo Acquire Licensing RightsSept 19 (Reuters) - A look at the day ahead in Asian markets from Jamie McGeever, financial markets columnist. China is expected to keep benchmark lending rates unchanged on Wednesday, grabbing the spotlight in Asia as the relentless rise in oil prices toward $100 a barrel seeps deeper into investor sentiment globally. Rates futures markets are pricing in a 30% likelihood of a quarter point hike in November or 40% chance it will be in December. China's central bank is expected to stand pat on rates as fresh signs of economic stabilization and a weakening yuan constrain put the brakes on further monetary easing efforts, at least for now.

Persons: Jason Lee, Jamie McGeever, Jerome Powell, Josie Kao Organizations: People's Bank of China, REUTERS, Reuters, 78th United Nations General Assembly, Investors, United Nations, Thomson Locations: Beijing, China, Asia, Japan, Taiwan, South Korea, New, New York

☆ China's PBOC woos foreign businesses as economic challenges grow
▼ + stars: | 2023-09-19 | by ( Laura He | ) edition.cnn.com time to read: +3 min

The symposium was intended to “increase financial support to help stabilize foreign trade and foreign investment” and improve the “investment environment” for foreign business, the statement said. In the first eight months of this year, foreign direct investment into China fell 5.1% from a year ago, according to data released by China’s commerce ministry on Sunday. A separate measure for foreign investment painted a grimmer picture. Companies that attended PBOC’s meeting called on Beijing to improve its business environment, its statement added. “[We] will continue to optimize policy arrangements, create a market-oriented, legal and international first-class business environment,” Pan told the companies.

Persons: Gongsheng, JP Morgan, Tesla, Gina Raimondo, ”, ” Pan Organizations: Hong Kong CNN, People’s Bank of China, HSBC, Deutsche Bank, DB, BNP, Japan’s, Bank, BASF, Schneider, State Administration of Foreign Exchange, SAFE, American Chamber of Commerce, US, Companies Locations: China, Hong Kong, Shanghai, Southeast Asia, Beijing

☆ China central bank, FX regulator meet foreign firms in capital drive
▼ + stars: | 2023-09-18 | by ( ) www.reuters.com time to read: +2 min

The headquarters of the People's Bank of China, the central bank, is pictured in Beijing, China, February 3, 2020. REUTERS/Jason Lee/File Photo Acquire Licensing RightsBEIJING, Sept 18 (Reuters) - China's central bank and forex regulator met with foreign financial institutions and companies on Monday, as Beijing strives to attract overseas investment to support its recovery. China will improve its policies, and create a market-oriented and international-level business climate, PBOC Governor Pan Gongsheng was quoted as saying in the statement. China has sought to court foreign capital as its economic recovery from the COVID-19 pandemic slows in the face of tepid overseas demand and property weakness. Actualised foreign direct investment into China fell 5.1% year-on year to 847.2 billion yuan ($116 billion) in the first eight months of 2023, the commerce ministry said on Friday.

Persons: Jason Lee, Morgan Stanley, Pan Gongsheng, Pan, Ellen Zhang, Ethan Wang, Bernard Orr, Louise Heavens, Alexander Smith Organizations: People's Bank of China, REUTERS, Rights, HSBC, Deutsche Bank, Council, Thomson Locations: Beijing, China, Rights BEIJING

☆ Chinese state firms' help to troubled shadow bank does little to address investor concerns
▼ + stars: | 2023-09-18 | by ( ) www.reuters.com time to read: +4 min

BEIJING, Sept 18 (Reuters) - The involvement of two Chinese state-owned financial firms in Zhongrong International Trust Co's operations and management may diffuse risk at the troubled shadow bank but does little to ease concerns about missed payments, analysts and investors said. It was not immediately clear whether the support by the two firms was engineered by the Chinese authorities, but Beijing has previously bailed out troubled financial firms by roping in state entities to contain broader contagion risk. The agreement allows the two financial firms to "provide professional services for operations and management" of Zhongrong, it said, adding the move would not impact its debt ownership and legal relationship in trust products. That would further dampen investors' confidence in trust products." "It's good news and at least provides some clarity," said Zhang, who is an investor in a Zhongrong trust product and gave only his surname due to sensitivity of the matter.

Persons: Zhongrong, They'll, Zhang, Xu, I've, Ziyi Tang, Ryan Woo, Sumeet Chatterjee Organizations: Trust, Citic Trust, CCB, Citic Group, China Construction Bank, National Financial Regulatory Administration, People's Bank of China, Citic, Shanghai, Thomson Locations: BEIJING, Beijing

☆ China boosts liquidity with medium-term policy tool
▼ + stars: | 2023-09-15 | by ( ) www.reuters.com time to read: +3 min

The headquarters of the People's Bank of China, the central bank, is pictured in Beijing, China, February 3, 2020. All 33 market watchers polled by Reuters this week predicted no change to the MLF rate. With 400 billion yuan worth of MLF loans set to expire this month, the operation resulted in a net 191 billion yuan of fresh fund injections into the banking system. It lent another 34 billion yuan via 14-day reverse repos at 1.95%, down from 2.15% previously. The rate reduction was a follow-up move to the rate cut to the seven-day tenor last month.

Persons: Jason Lee, Ken Cheung, Cheung, Marco Sun, Sun, Winni Zhou, Tom Westbrook, Tom Hogue, Shri Navaratnam, Sam Holmes Organizations: People's Bank of China, REUTERS, Rights, Reuters, Mizuho Bank, MUFG Bank, Thomson Locations: Beijing, China, Rights SHANGHAI, SINGAPORE, United States

☆ Dollar firm as markets eye China data
▼ + stars: | 2023-09-15 | by ( ) www.cnbc.com time to read: +1 min

The dollar was on the front foot in Asia on Friday, retaining overnight gains against peers after strong U.S. economic data and an ECB rate hike, with traders' attention warily turning to a data deluge from China. U.S. retail sales received a boost from higher gasoline prices, increasing 0.6% in August versus an estimated 0.2% rise, while market participants reacted to the European Central Bank's 25-basis point hike. "The data today will be super important," said Rodrigo Catril, senior FX strategist at the National Bank of Australia. The offshore yuan inched further down against the dollar to 7.2918 ahead of the data. "In that sense it means that any disappointment coming out of the data today, we'll likely see the CNY under pressure," with risks to the Aussie and the Kiwi as well, he said.

Persons: Rodrigo Catril, we'll Organizations: Central, U.S, Mizuho Bank, National Bank of Australia, People's Bank of China's, Kiwi Locations: Asia, China . U.S, Thursday's, China

☆ Dollar holds steady, yuan rises on better-than-expected China data
▼ + stars: | 2023-09-15 | by ( Brigid Riley | ) www.reuters.com time to read: +3 min

The U.S. dollar index last stood somewhat lower at 105.32, but still near Thursday's six-month peak of 105.43. The yuan and Australian and New Zealand dollars received a boost after a batch of economic data from China in the Asian morning came in better-than-expected for some key indicators, providing a rare lift in sentiment. The offshore yuan inched up against the dollar to 7.2918 following the release. The Australian dollar , a proxy for China growth, rose nearly 0.3% to $0.6443, while the New Zealand dollar was up 0.2% at $0.5912. The yen stuck near 147.41 per dollar in the Asian morning.

Persons: Dado Ruvic, Rodrigo Catril, Sterling, Simon Harvey, Brigid Riley, Indradip Ghosh, Lincoln, Navaratnam Organizations: REUTERS, Rights, Central, U.S, greenback, New Zealand, People's Bank of China's, National Bank of Australia, Australian, Mizuho Bank, Thomson Locations: Asia, China, Thursday's, Europe

☆ China cuts banks' reserve ratio for second time in 2023 to aid recovery
▼ + stars: | 2023-09-14 | by ( ) www.reuters.com time to read: +2 min

The headquarters of the People's Bank of China, the central bank, is pictured in Beijing, China, February 3, 2020. The People's Bank of China (PBOC) said it would cut the reserve requirement ratio (RRR) for all banks, except those that have implemented a 5% reserve ratio, by 25 basis points from Sept. 15. The central bank said the weighted average reserve requirement ratio (RRR) for financial institutions stood at around 7.4% after the cut. Dan Wang, chief economist at Hang Seng Bank China, cautioned to watch for a cut in Medium-term Lending Facility (MLF) on Friday off the back of the RRR cut. "That would be more significant than the RRR cut and suggest central bank is up to something," said Wang.

Persons: Jason Lee, Wen Bin, Xu Tianchen, Dan Wang, Wang, Liangping Gao, Joe Cash, Ellen Zhang, Kevin Yao, Kevin Liffey, Alison Williams, Christina Fincher Organizations: People's Bank of China, REUTERS, Rights, Minsheng Bank, Xinhua, Economist Intelligence Unit, Hang Seng Bank China, Thomson Locations: Beijing, China, Rights BEIJING

☆ China cuts banks' reserve ratio to aid recovery
▼ + stars: | 2023-09-14 | by ( ) www.cnbc.com time to read: 1 min

BEIJING, CHINA - JUNE 13: A woman walks past the People's Bank of China (PBOC) building on June 13, 2023 in Beijing, China. China's central bank said on Thursday it would cut the amount of cash that banks must hold as reserves for the second time this year to help keep liquidity ample and support a nascent economic recovery. The People's Bank of China (PBOC) said it would cut the reserve requirement ratio (RRR) for all banks, except those that have implemented a 5% reserve ratio, by 25 basis points from Sept. 15. The move came after the world's second-biggest economy has struggled after its post-pandemic recovery faltered. To support the economy, the government has rolled out a series of policy measures in recent months, including steps to spur housing demand.

Organizations: People's Bank of China Locations: BEIJING, CHINA, Beijing, China

Paramilitary police officers stand guard in front of the headquarters of the People's Bank of China, the central bank (PBOC), in Beijing, China September 30, 2022. REUTERS/Tingshu Wang/File Photo Acquire Licensing RightsSept 15 (Reuters) - A look at the day ahead in Asian markets from Jamie McGeever, financial markets columnist. Asian markets are set to end the week strongly following risk-friendly moves in the U.S. and Europe on Thursday, although a deluge of top-tier economic data from China on Friday could sour the mood at a stroke. The latest indicators from the region's largest economy to be released include house prices, fixed asset investment, retail sales, industrial production and unemployment, all for August. However, all that could be parked for another day if investors decide to run with Thursday's bullish momentum.

Persons: Tingshu Wang, Jamie McGeever, Josie Kao Organizations: People's Bank of China, REUTERS, European Commission, PMI, Thomson, Reuters Locations: Beijing, China, U.S, Europe, Asia, Japan, Indonesia, New Zealand

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