China's economy grows at its slowest pace in more than six years in the third quarter. Gross domestic product between July and September expanded 6.9% from a year ago, its weakest since the first quarter of 2009. While that is better than the forecasted 6.7% growth, it is lower than the 7% recorded in the first two quarters.
Tags: People's Bank of China
US Presidential elections, China economy setting tone for markets
Global markets have been moving in tandem with state of Chinese economy and US Presidential elections these days. After rebounding in the previous month, the global markets are waiting for next level triggers from US elections and stimulus plans on China's economy.
China's super regulator plan may merge banking, securities & insurance sectors
China is working on a new financial super-regulator mechanism to take care of banking, securities and insurance segments under one umbrella. Recent turmoil in the financial markets are driving the Chinese government to revamp financial monitoring mechanism.
People's Bank of China Inject 340 billion yuan into the financial system
China’s central bank, the People's Bank of China is putting the largest amount of cash into the financial system in nearly three years which is around 340 billion yuan. The move was done as the bank is preparing for lots of cash out as it is nearing the Lunar New Year.
Yen retreats after higher guidance on Yuan
After rising over three percent recently, Japanese Yen eased after the strong guidance on Yuan by China's central bank. The Greenback against Japanese currency fell to its lowest level since August 2015. Several emerging economies' currencies were reeling under pressure.
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Allaying fears about China's economy slowing down, Goldman Sachs says it's overblown. However, the American investment bank agreed that recently the world witnessed some negative developments.
Another wild day of trading gripped Wall Street Tuesday. Many were hoping stocks would recoup losses from Monday's massive selloff, as all three major equity indexes surged during early sessions. But, as trading drew to a close, their gains vanished.
China is reportedly planning to cut deposits that banks are required to hold in reserve to counter the effects of a weaker currency.
China's securities regulator took the drastic step of ordering shareholders with stakes of more than 5 percent from selling shares for the next six months in a bid to halt a plunge in stock prices that is starting to roil global financial markets.
U.S. stocks ended sharply lower on Wednesday as market turmoil in China eclipsed Greece's debt crisis, while the New York Stock Exchange suffered a major outage.
China's stock markets closed sharply lower on Monday after a frantically volatile day of trading, despite surprise monetary easing moves by the central bank at the weekend.
When Chinese flight booking operator Baitour needed cash to grow its business last year, it opted against using Industrial and Commercial Bank of China, its long-term lender and the world's largest bank, turning instead to Internet finance startup Jimu Box.
European and Asian shares advanced on Wednesday as expectations of further monetary stimulus in China offset another mixed bag of data from some of the world’s major economies.
China's factories suffered their fastest drop in activity in a year in April as new orders shrank, a private business survey showed on Monday, hardening the case for fresh stimulus measures to halt a slowdown in the world's second-largest economy.
