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HOUSING mortgage interest rates in some first-tier cities – Beijing, Shanghai and Guangzhou, Guangdong province – have been trimmed following the latest benchmark lending rate cut.
CHINESE banks cut a key interest rate for long-term loans by a record amount, a move that would reduce mortgage costs and may help counter weak loan demand caused by a property slump and Covid lockdowns.
SHANGHAI: China is expected to cut benchmark lending rates at its monthly fixing on Friday, a second reduction this year, a Reuters survey showed, as it seeks to prop up credit demand to cushion an economic slowdown due to COVID-19 disruptions.
SHANGHAI: China’s central bank rolled over maturing medium-term policy loans while keeping the interest rate unchanged for a fourth straight month yesterday, matching market expectations.
SYDNEY: Asian share markets were attempting a rare rally on Monday after Wall Street managed a bounce from deep lows, though investors were also braced for bad news from Chinese economic data due later in the session.
BEIJING, May 8 (Xinhua) -- Outstanding loans extended by China's financial institutions came in at 201.01 trillion yuan (about 30.3 trillion U.S. dollars) by the end of the first quarter (Q1), central bank data showed.
Since early March, the outbreak of the Omicron variant of the novel coronavirus has spread from Shanghai to other parts of China, including Beijing, and Guangdong and Hunan provinces.
KUALA LUMPUR: The ringgit extended its downtrend against the US dollar on Monday on stronger buying support for the greenback as the market turns its focus on the upcoming US Federal Open Market Committee (FOMC) meeting on May 3 and 4, said an analyst.
SHANGHAI: China stocks see-sawed near two-year lows on Friday and the yuan extended losses as strict COVID-19 lockdowns paralysed economic activity in many big cities, even as authorities vowed to provide more help to smaller firms hardest hit by the pandemic.