Central bank cuts benchmark interest rates to counter economic slowdown

Massive cash and gems hoard found at Beijing home of one of the country’s most senior army figures

China's central bank announced a cut to the one-year benchmark lending rate by 40 basis points, taking it down to 5.6%, as well as a cut to the one-year benchmark deposit rate by 25 basis points to 2.75% today after market closing. The People's Bank of China (PBoC) also raised China's deposit rate ceiling from […]

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The biggest economic news of the year came almost without notice: China has overtaken the US as the world’s largest economy. And, while China’s geopolitical status is rising rapidly, alongside its economic might, the US continues to squander its global leadership.

China’s salt monopoly, in place since 7th century BC, set to be dismantled

Rule change meant to channel loans to small companies could force banks to park trillions in cash

In the face of tightened liquidity conditions, China’s central bank will likely conduct some short-term liquidity injection in order to ease the situation, as the State Council vowed to lower the cost of funds for the real economy this week, writes Liu Li-Gang, chief China economist at ANZ Banking Group Ltd. China’s onshore market liquidity […]

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After completing the world's largest IPO in September, Alibaba Group Holding Limited priced its debut U.S. dollar-denominated bond offering of US$8 billion today, becoming the largest Asia Pacific bond issuance on record in G3 currencies that include the U.S. dollar, Euro and Japanese Yen, according to a company announcement. The issuance pushes up China's G3 […]

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LGM Investments Limited, a unit of BMO Global Asset Management, says it has appointed Stephen Ma as head of Greater China equities, according to a company announcement. Ma was previously responsible for approximately US$4 billion of assets in China and Hong Kong funds at Fidelity, where he began in 1997 and was appointed a portfolio […]

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Rare instance of labour unrest involving the country’s public sector workforce

Chinese third-party Internet payment service provider Alipay.com announced that the company has established a new subsidiary in Sydney, Australia. Alipay will reportedly continue with a local joint venture with Paybang to meet the shopping demands of Australian and Chinese consumers. Alipay will also work together with Australia Post to promote Alipay shopping cards in 4,400 […]

PM has disappointed at home but been energetic and assertive internationally

PM has disappointed at home but been energetic and assertive internationally