Governor of the People’s Bank of China Pan Gongsheng met with US Federal Reserve Chairman Jerome Powell on the sidelines of the Spring Meetings of the International Monetary Fund and the World Bank Group on Wednesday in Washington. They exchanged views on China and US economic developments, monetary policy, financial stability and other issues of … Continue reading PBOC governor, Fed chairman hold meeting
Tag: bank
Chinese, German banks issue first batch of $140m funds
[Photo/VCG] The China Development Bank and Landesbank Baden-Wurttemberg, a major bank of Germany, have issued the first batch of 1 billion yuan ($140 million) of funds for areas such as small and mid-sized enterprises, third-party markets, green finance and sustainable finance under the framework of cross-border renminbi cooperation, CDB announced on Wednesday. The move is … Continue reading Chinese, German banks issue first batch of $140m funds
China enhances payment services at key tourism sites
Chinese authorities recently released a circular with specified measures to further optimize payment services and improve convenience in major tourist attractions across the country. The diverse payment needs of senior citizens, foreign and other visitors in the cultural and tourism sectors will be better met, according to the circular jointly issued by the People’s Bank … Continue reading China enhances payment services at key tourism sites
Visitors to benefit from payments revamp
Visitors purchase cashmere products through mobile payment methods during the 20th China-ASEAN Expo in Nanning, Guangxi Zhuang autonomous region, in September. [Photo/China Daily] China is expected to intensify efforts to facilitate a seamless payment mechanism for foreigners and the elderly, and create a more friendly, inclusive and multichannel payment environment, said experts and business leaders. … Continue reading Visitors to benefit from payments revamp
Foreign exchange reserves reach highest in 2 yrs
A teller counts and arranges dollar notes at an Agricultural Bank of China branch in Qionghai, Hainan province. [Photo/China Daily] China’s foreign exchange reserves reached the highest level in more than two years, standing at $3.2457 trillion as of the end of March, while gold reserves increased for the 17th consecutive month, the State Administration … Continue reading Foreign exchange reserves reach highest in 2 yrs
Govt policies to aid banking sector, BOC says
A view of the booth of Bank of China during an expo in Fuzhou, Fujian province. CHEN BIN/FOR CHINA DAILY The central government’s supportive policies are expected to gradually improve business sentiment, boosting domestic demand and laying a solid foundation for the steady development of the banking industry, Bank of China said. The bank’s operating income … Continue reading Govt policies to aid banking sector, BOC says
Qilu Bank backs measures to boost rural revitalization
A view of farmland in Shandong province. [Photo provided to chinadaily.com.cn] To develop agricultural finance, the Yantai branch of Qilu Bank is making efforts to support the development of local emerging agricultural entities and promote the marketing of farmers’ cooperatives. It is taking the lead in serving agricultural enterprises, family farms, large-scale farming and breeding … Continue reading Qilu Bank backs measures to boost rural revitalization
PBOC head calls for IMF quota reform
Pan Gongsheng, governor of the People’s Bank of China, speaks at the Boao Forum for Asia Annual Conference 2024, March 27, 2024. [Photo/VCG] Asian countries should cooperate with each other to push the reform of the quota system of the International Monetary Fund, in order to better reflect the status of Asian countries in the … Continue reading PBOC head calls for IMF quota reform