China
China vows long-term strategy to resolve local debt risks
Officials stress need to strengthen Communist party control over China’s financial sector
Court grants Evergrande five more weeks to avert liquidation
Hong Kong court gives Chinese developer until December 4 to revise restructuring plan
China sets up renminbi clearing bank in Laos
New currency clearing arrangement is China’s fifth in South-east Asia
China boosts support for economy with new debt issuance
The central government will issue one trillion yuan in bonds in the fourth quarter
Public trust: the role of the private sector in exploring digital currency
Digital currencies that effectively protect financial privacy in lawful transactions will garner enduring confidence in the highly integrated networks of the future, argue J Christopher Giancarlo and Daniel Gorfine
Default fears loom over Country Garden
The Chinese developer reportedly missed a final deadline to repay $15.4 million in interest
Book notes: Economists in the cold war, by Alan Bollard
A geographically balanced review of key economists that shaped the world economy
PBoC asks banks to roll over local government debt
Major lenders reportedly told to extend loans to local government financing vehicles at lower rates
IMF hits PRGT milestone but quota deal remains elusive
US wants to maintain voting shares as China continues to press for more proportional allocation
China SWF buying bank shares on Shanghai exchange
Central Huijin was created in 2003 to address domestic banking crisis
Inflation set to remain high into 2025, IMF warns
Soft landing looks more likely but growth is “limping along”, says Pierre-Olivier Gourinchas
Chinese prosecutors charge ex-PBoC official with taking bribes
Central bank fired deputy governor Fan Yifei in December
US and China set up economics and finance working groups
Officials will report to US Treasury Secretary Janet Yellen and Chinese vice-premier He Lifeng
Chinese developer says regulators’ conditions prevent new debt issue
Pressure grows on Evergrande to restructure estimated $328 billion debt amid property sector crisis
Will the use of CBDCs improve cross-border payments?
International trials using CBDCs highlight significant architectural and practical challenges, writes Warren Coats
PBoC holds key lending rates
Central bank official says data shows recent easing measures are taking effect
Critic urges UK to leave China-based lender
Treasury says UK will stay in AIIB as ex-official calls some employees “useful idiots”
Chinese police detain financial firm’s staff
Move came after property giant Evergrande’s financial arm missed payments for investment products
PBoC cuts reserve requirement ratio but holds policy rate
Data shows some improvement in demand but continuing property sector problems
PBoC developing interoperable QR codes for digital yuan
Digital yuan to be available in all retail scenarios and in wholesale securities markets
China to ease mortgage rules and cut banks’ FX reserve ratio
Moves come on top of authorities’ recent support measures for property sector and stock market
PBoC pledges more financial support for private firms
Governor Pan Gongsheng says authorities need to unblock funding channels for private firms
People: July to September 2023
A round-up of central bankers in the news and on the move during the past three months
China rolls out more support for property sector and stock market
Authorities cut stamp duty on stock trades for first time since 2008 and relax home-buying rules