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Topic: Central Bank of China

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In the News (Tue 16 Jul 19)

  People's Bank of China - Wikipedia, the free encyclopedia
The People's Bank of China (中国人民银行, pinyin: Zhōngguó Rénmín Yínháng) (not to be confused with the Bank of China or the Central Bank of China) is the central bank of the People's Republic of China with the power to control monetary policy and regulate financial institutions in mainland China.
In the 1980s, as part of economic reform, the commercial banking functions of the PBOC were split off into four independent but state-owned banks, and the mission of the PBOC was refocused to undertake only the functions of a central bank.
In Hong Kong, the central bank is the Hong Kong Monetary Authority and policy is directed by the Financial Secretary.
en.wikipedia.org /wiki/People's_Bank_of_China   (405 words)

 Central Bank of China - Wikipedia, the free encyclopedia
The Central Bank of China (中央銀行) is the central bank of the Republic of China (on Taiwan).
After the loss of the mainland in the Chinese Civil War by the Kuomintang and its subsequent retreat to Taiwan in 1949, the Central Bank of China also moved along with the government to Taiwan.
However, until the Central Bank of China was reestablished in 1961, the Bank of Taiwan acted as a de facto central bank.
en.wikipedia.org /wiki/Central_Bank_of_China   (173 words)

 Liu Mingkang
A Central Bank needs to be independent in setting up its monetary policy, in supervising all the financial organizations, and in cooperating with foreign partners worldwide (2).
How much money banks have to loan is decided by their adequacy level and their own assessment on commercial terms of the potential of the borrower (4).
China doesn't say how much it keeps in particular currencies but it is assumed that the Central Bank has about 57% of its reserves in U.S. dollar and 25% (down from 33%) in yen.
www.asian-affairs.com /China/liumingkang.html   (5117 words)

 China's Central Bank Raises GDP Forecast   (Site not responding. Last check: 2007-10-21)
However, growth in China's gross domestic product is expected to slow slightly to 8.7 percent in the first half of 2006 from the same period in 2005, the research bureau of the People's Bank of China said in a report carried by its official newspaper, the Financial News.
Meanwhile, China's consumer price index — the main barometer for inflation — will come in at 2 percent this year, down from the previously reported 2.7 percent, the central bank said.
China's economy grew a blistering 9.5 percent in 2003 and 2004.
www.realtyea.com /business/id_9925   (285 words)

 Asia Times Online - News from greater China; Hong Kong and Taiwan
So, the People's Bank of China, China's central bank, recently warned 11 joint-stock commercial banks at a joint meeting of presidents of those banks that next year it will control money and credit supply mainly in the first quarter - instead of the fourth quarter, as in the past.
The central bank is most worried that the macro-control policy will have to be suspended in 2005 as it was in April-May this year.
Meanwhile, the central bank recently increased the proportion of bill issues, especially bills with a term longer than half a year, which will mature for redemption mostly in the fourth quarter of this year and the first quarter of the next year.
www.atimes.com /atimes/China/FI25Ad01.html   (463 words)

 The Central Bank of China Act
The Bank shall have a Board of Directors consisting of eleven to fifteen directors to be nominated by the Executive Yuan and appointed by the President of the Republic.
The Bank shall have a Governor with the rank of special appointment and two Deputy Governors with the rank of selective appointment, all of whom shall be appointed for a term of five years and may be reappointed upon the expiration of such term.
The Bank may, at its discretion and in the light of financial and economic conditions, prescribe an upper limit for the interest rates of bank deposits, and approve the range of interest rates on bank loans as proposed by the bankers' associations.
www.law.nyu.edu /centralbankscenter/texts/Central_Bank_of_China_Act_Taiwan.html   (2215 words)

 RTE Business - China's central bank cuts inflation forecast
China's central bank has cut its 2005 inflation forecast, one day after data showed consumer price rises hovering at 19-month lows, suggesting an interest rate hike is not an immediate prospect.
This is down from previous central bank forecasts of a 4% rise in consumer prices this year and compares with last year when consumer price inflation reached an eight-year high of 3.9%.
Zhou Xiaochuan, the central bank governor, said last week that there would be no interest rate hikes in the short term.
www.rte.ie /business/2005/0614/china.html   (226 words)

 Asia Times Online :: China News, China Business News, Taiwan and Hong Kong News and Business.
The bank said there is a need for banks to enhance their ability to price loans according to risk factors and costs so as to prevent price undercutting.
All headquarters of the central bank and the "big four" commercial banks are based in Beijing, which hinders Shanghai's ability to obtain a solid financial position in the country, let alone globally, Han added.
The CCB, the financially healthiest bank of the country's Big Four that include the Industrial and Commercial Bank of China, the Agricultural Bank of China and the Bank of China, is improving its service to explore the market in the new year, said Zhang Enzhao, board chairman of the CCB.
www.atimes.com /atimes/China/GB02Ad02.html   (1043 words)

 CNN.com - China widens interest rate range - Dec. 15, 2003
China's central bank is cutting the interest rate it pays on excess bank reserves.
The central People's Bank of China is to widen the floating range for lending rates in its latest move towards a market-orientated interest rate regime, the state-run Xinhua news agency reports.
Rapid loan increases this year have fuelled inflationary concerns, prompting the central bank in September to raise the bank reserve ratio by 1 percentage point to 7 percent of total deposits.
www.cnn.com /2003/BUSINESS/12/12/china.rates   (259 words)

 Association for Asia Research- Local banks manipulate China’s central bank rules
In China, local governments and banks are manipulating data to get around new rules imposed by the central government to cool down an overheated economy.
On March 12, China’s central bank, the People's Bank of China published a financial report showing agricultural loans increased 80.2 billion yuan (US$9.7 billion) in the first two months of this year.
However, on March 17, China’s National Bureau of Statistics published a report showing that fixed asset investment in agriculture for the first two months was only 10 billion yuan (US$1.2 billion), a difference of 70 billion from the People's Bank report.
www.asianresearch.org /articles/2139.html   (462 words)

 SignOnSanDiego.com > News > Business -- China central bank official says no plans for further yuan adjustments ...
Adjustments in China's foreign exchange policy will eventually give the market a much stronger sway over the yuan's value, though they may at first be perceived as slow, the Financial Times quoted central bank governor Zhou Xiaochuan as saying.
Zhou said the central bank wants the yuan to move gradually to allow Chinese companies to adapt to the new trading system and to become familiar with financial instruments, such as forwards, used to hedge exchange rate risks.
China this year assumed the presidency of the G20, a group created in 1999 with the aim of reforming the global financial system to make financial crises less likely.
www.signonsandiego.com /news/business/20050829-0602-china-currency.html   (661 words)

 Bloomberg.com: Bloomberg Columnists   (Site not responding. Last check: 2007-10-21)
China is the sexiest economic story there is, and its potential is indisputable.
China's M2, the broadest measure of money supply, rose to 20.6 trillion yuan last month, up 21 percent from a year ago, the seventh time the growth exceeded central bank targets.
The central bank in May raised the annual target to 18 percent, from 16 percent at the beginning of this year.
quote.bloomberg.com /apps/news?pid=10000039&sid=aOlhWKY9BHoc&refer=columnist_pesek   (865 words)

 SignOnSanDiego.com > News > Business -- China central bank says no yuan revaluation with May 18 trading expansion
Central bank officials denied the report, which was later removed from the Web site.
China is gradually loosening its tight controls over foreign exchange dealings but central bank officials say Beijing will not bow to foreign pressure to end the yuan's link to the U.S. dollar.
China's state-controlled media have carried a slew of reports this week downplaying expectations that the yuan may be revalued.
www.signonsandiego.com /news/business/20050513-0643-china-currency.html   (572 words)

 Chinese Monetary System
The Central Bank of China, established by the Chinese National Government in 1928, issued banknotes until 1949.
Among those was the Central Reserve Bank of China established in Manchuria in the late 30 ‘s.
Operation of the bank, the state bank of the puppet Republic of China at Nanking, began sometime in 1940.
www.rickshaw.org /chinese_monetary_system1.htm   (706 words)

 WW II Allied Propaganda Banknotes Continued
For instance, on the Central Reserve Bank of China 50 cents note of 1940 they dispersed the English letters "C G W R S." The letters allegedly represent "Central Government Will Return Soon." The Central Reserve Bank was chartered 19 December 1940 under the authority of Wang Ching-Wei, chief of the pro-Japanese collaborationist government.
The Central Reserve Bank of China 100 yuan note of 1942 allegedly has the muzzles of wolves in the border.
Central Bank 50 Customs gold unit of 1930 with partisan slogan "Resist the Japanese, Rebuild the nation." This slogan is found in red and blue, in various shades and in various dimensions on at least three different Chinese banknotes.
www.psywarrior.com /WWIIAlliedBanknotes2.html   (3051 words)

 Forbes.com: China central bank to keep interest rates stable   (Site not responding. Last check: 2007-10-21)
Many expect the central People's Bank of China, which has tightened its grip on property loans and announced a rise in bank reserve requirements, to keep interest rates stable throughout the year.
China is pushing interest rate reform to help Chinese banks compete with foreign rivals as the country gradually opens up under the World Trade Organisation.
The central bank now sets both yuan deposits and lending rates for commercial lenders but has gradually given them more freedom to float lending rates in line with credit ratings.
www.forbes.com /home_europe/newswire/2003/09/17/rtr1084813.html   (327 words)

 China's central bank rejects yuan/renminbi pressure
China's central bank said it will not bow to external pressures to revalue its currency and blamed the United States for creating a negative environment for any eventual loosening of the yuan peg.
The comments by People's Bank of China (PBOC) vice governor Wu Xiaoling came a day after billions of dollars of speculative money was wagered on forex markets worldwide after a mistranslation of a website message that China would revalue the currency on May 18th.
China is expected to delink the yuan from the US dollar and fix against a basket of currencies by the end of this year or early in 2006, he said.
www.finfacts.ie /irelandbusinessnews/publish/printer_10001797.shtml   (745 words)

 China ‘at the Edge’ of Financial Crisis: Central Bank Governor   (Site not responding. Last check: 2007-10-21)
China’s central bank governor has warned that the country is “at the edge” of a financial crisis as bad debt levels continue to rise.
HONG KONG -- China’s central bank governor has warned that the country is “at the edge” of a financial crisis as bad debt levels continue to rise.
If China can survive it, they will emerge stronger as a result of it because they will be competing against foreign banks and there will be constant market, in addition to government pressure, to effectively redirect their resources to performing enterprises.
www.freerepublic.com /focus/f-news/1193908/posts   (2187 words)

 News & Views - China's Central Bank Official Assures Little Change of Monetary Policy (7/17/2002)   (Site not responding. Last check: 2007-10-21)
The monetary policy has guaranteed an equilibrium between monetary supply and demand, and has therefore achieved the central bank's intended target in the first six months of this year, the business-content newspaper quoted Dai as saying.
A central bank's survey in May has exposed that 80 percent of money out of the State-owned commercial banks eventually flows to only a small handful of so-called "excellent" customers, usually big-name firms with reliable credit record, while the majority of medium- and small-sized firms hardly find way to quench their money thirst.
Of the total consumption expenditures of China's households in 2001, consumption spending by farmers, about 62 percent of the country's 1.3 billion population, stood simply at 34.7 percent, down 12.8 percentage points compared to 1997.
www.chinahouston.org /news/2002717085322.html   (626 words)

 China's Central Bank Warns of Danger from Real Estate Bubble | Asian American Intelligence | GoldSea   (Site not responding. Last check: 2007-10-21)
Average real estate prices in China rose by 14.4 percent in 2004 over the previous year and by 12.5 percent in the first quarter of 2005.
In some cases the loans were repaid; in others, the borrowers defaulted on their debts after failing to resell the property.
It urged banks to improve credit controls and to research the possibility of using mortgage loan insurance to help reduce risks.
goldsea.com /Asiagate/508/16land.html   (385 words)

 China's Central Bank Governor says not much "hot money" in country
The reason is that China implements foreign exchange controls to some extent, Zhou Xiaochuan told a press conference during the annual session of the National People's Congress, China's parliament, according to Xinhua, the State news agency.
China's foreign exchange reserves, which grew to US$609.9 billion in 2004 -- second only to Japan -- consists largely of trade surpluses, non-trade surpluses and capital investment from overseas, Zhou said.
The banks' stock market floatatios should be decided by their boards of directors and depend on whether there are "windows of opportunity" on the capital market, Zhou told the press conference.
www.finfacts.ie /irelandbusinessnews/publish/printer_1000741.shtml   (270 words)

 www.mineweb.net | columns | down under China central bank loosens gold stranglehold   (Site not responding. Last check: 2007-10-21)
PERTH - The Chinese central bank has bowed to international free-market forces and ushered in a new system of physical gold trading with the advent of the Shanghai Gold Exchange (SGE).
Trialled for the past year, the SGE represents the end of a half-century tradition in which the Chinese central bank had full power over gold trading in the mainland.
WGC chief executive Jim Burton believes the China gold market liberalisation would eventually have a material impact on gold demand in the country, which consumed 220 tonnes in 2001.
www.mineweb.net /columns/down_under/73107.htm   (364 words)

 The New York Times > Business > World Business > China's Central Bank Raises Interest Rate on Mortgages
Banks will also be encouraged to require down payments equal to 30 percent of the purchase price, instead of 20 percent, in cities that have experienced especially rapid appreciation lately, the People's Bank of China said in a statement on its Web site.
The central bank tempered the effects of the rate increase on the overall economy, however, by reducing the interest rate it pays banks for reserves they hold in excess of regulatory minimums.
The effect of the decrease, to 99 one-hundredths of a percent from 1.62 percent, is to encourage banks to lend more money, though the banks are still under administrative controls governing the volume of loans to sectors that may be overheated.
www.nytimes.com /2005/03/17/business/worldbusiness/17yuan.html?ex=1268715600&en=5bc870558ae16307&ei=5090&partner=rssuserland   (770 words)

 Yuan Reform Won't Cut Trade Surplus, Says China's Central Bank | Asian American Intelligence | GoldSea   (Site not responding. Last check: 2007-10-21)
It was his first public comment since the surprise announcement Thursday that the central bank was pushing the yuan up by 2.1 percent against the dollar and adopting a more flexible exchange rate system that could allow it to slowly rise further.
Thailand's central bank governor said the move signaled China's willingness to adopt limited market reforms, and its trade minister said Thai exports should improve.
The central bank spokesman said China began allowing the yuan's value to fluctuate slightly in 1994, but tightened controls after the 1997 Asian financial crisis, when a wave of speculation and devaluations was unleashed by Thailand's move to loosen currency controls.
goldsea.com /Asiagate/507/23yuan.html   (724 words)

 China's central bank drafts law banning use of altered images of | newratings.com
China's central bank drafts law banning use of altered images of
China's central bank drafts law banning use of altered images of
China IT & Telecom ReportChina's central bank drafts law banning use of altered images ofChinese currency onlineBy Faye WangThe People's Bank of China (PBC), the country's central bank, hasreleased a draft version of a new policy that would prohibit the use ofaltered images of the Chinese currency, the Renminbi, on the Internet inChina.
www.newratings.com /analyst_news/article_720816.html   (207 words)

 China central bank to keep yuan stable within "reasonable, balanced" level
China will keep its currency stable at a "reasonable and well-balanced level" while improving the yuan's exchange rate mechanism, the central bank said Thursday in its first quarter report.
China enjoyed a 16.6 billion dollar trade surplus during the first quarter of 2005, up from a 8.6 billion dollar trade deficit during the same period last year, the bank said.
China's foreign exchange reserves, the second-largest in the world after Japan's, hit 659.1 billion dollars at the end of March, an increase of 16.5 billion dollars over February, official data shows.
www.sinodaily.com /2005/050526112540.urkc27dr.html   (497 words)

 SINA.com - Contents
BEIJING, Oct. 22(Xinhuanet)-- China's macro-economy remains stable and fast-growing despite the Renminbi(RMB) exchange rate reform three months ago, the central bank announced in a new document.
Thanks to a proper change margin and reform timing, the market in general can stand the exchange rate reform, which is conducive to the balance of China's foreign trade, the central bank said.
On financial macrocontrol policy, the central bank said since 2003, it successfully adjusted credit policies so as to cool down the overheating real estate, steel and iron, aluminium and cement industries.
content.sina.com /news/49/00/9490099_1_gb.html?skin=englishCenter   (210 words)

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