SHANGHAI—China cut its benchmark lending rate and lowered the mortgage reference by a bigger margin on Monday, adding to last week’s easing measures, as Beijing boosts efforts to revive an economy hobbled by a property crisis and a resurgence of COVID-19 cases. The People’s Bank of China (PBOC) is walking a tight rope in its…
China Worried About ‘Spillover’ from Russia Sanctions
March 22, 2022
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China, which has not condemned Russia for invading Ukraine, has raised concerns about the “spill-over effect” of the widespread international sanctions slapped on Moscow. “Both [China and Pakistan] expressed concerns about the spill-over effects of unilateral sanctions,” Reuters reported the Chinese foreign ministry said after China’s foreign minister Wang Yi met with his Pakistani counterpart…
China’s Central Bank Hands Over 1 Trillion Yuan Profit for Fiscal Spending, Risking Inflation
China’s central bank will transfer more than one trillion yuan ($158 billion) in profits to the finance ministry this year to help fund fiscal spending and bolster the slowing economy. Economists liken it to the central bank pumping money into the economy at the risk of inflation. China’s inflation risks are building as producers pass…
Digital Yuan Means Even More Control Over People of China
Commentary Beijing takes the lead in central bank digital currencies (CBDC) and the new era of expanding monetary and currency control around the world. Leave it to the world’s largest slave state to roll out the first national digital currency. Leveraging the global attention of the upcoming Winter Olympic Games in Beijing, the People’s Bank…
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