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PBOC To Let Yuan Float More Freely
China is poised to take yet another step in making the yuan a free-floating currency, according to central bank Governor Zhou Xiaochuan. The People’s Bank of China, the country’s central bank, intends...
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PBOC Bans Financial Companies From Handling Bitcoins
China’s central bank barred financial institutions from handling Bitcoin transactions, moving to regulate the virtual currency after an 89-fold jump in its value sparked a surge of investor interest...
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Bitcoin Related Companies Are Thriving In China
Businesses dealing with the virtual currency bitcoin have sprouted across China, the most popular being the currency’s trading platforms. Some have secured major investments, according to the...
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PBOC Bashes Bitcoins
Bitcoin prices slumped some 26 percent on Tuesday following media reports that third-party payment companies have been banned from doing business with the virtual currency exchanges. By 3 pm Tuesday,...
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BTC China Effectively Closed For Business
BTC China, the world’s largest Bitcoin operator by trading volume, said it will no longer accept new deposits in yuan, dealing another setback to the virtual currency. The announcement on the...
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RMB Tanks As PBOC Flexes Its Muscle
China’s yuan tumbled the most in more than three years on speculation the central bank wants an end to the currency’s steady appreciation to ward off speculators before a possible widening of the...
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China Has Devalued The RMB By The Largest Amount Since 2012
China’s central bank weakened the daily reference rate for its currency by the largest percentage in more than a year and half, as it continues to fight capital inflows and as sluggish economic data...
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China Widens Yuan Intraday Trading Band From 1% To 2%
China’s central bank loosened its grip on the yuan on Saturday by doubling the daily trading range for the currency, adding teeth to a promise it would allow market forces to play a greater role in...
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PBOC Bans Virtual Credit Card Use In China
The People’s Bank of China, China’s central bank, demanded on March 14 the suspension of virtual credit cards and payment operations using the so-called Quick Response (QC) codes. The move comes after...
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Deutsche Bank’s Jun Ma Targeted As Chief Economist of PBOC
One of the most bullish China watchers among big foreign banks is close to being appointed chief economist at China’s central bank, according to a person with direct knowledge of the matter. Ma Jun,...
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