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SHANGHAI: China’s yuan advanced to a three-year high in onshore markets as the central bank signalled that it’s comfortable with a recent rally by setting a strong daily reference rate.
SHANGHAI: China may avoid having to pull out the big stick when it comes to reining in a record short-term borrowing spree by its smaller banks.
BEIJING: China’s central bank injected 638.68 billion yuan (US$92.98bil) via short and medium-term liquidity tools in January, down 26% from the previous month, data showed, signalling an effort to cool down rapid credit growth.
BEIJING: China’s central bank is conducting tests of a digital yuan payment system in four cities across the country, it told Reuters.
HONG KONG: More than 2 billion yuan ($299.07 million) has been spent using China's new digital currency so far in 4 million separate transactions, Yi Gang, the governor of the People's Bank of China (PBOC), said on Monday.