Banking
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The long-term stability and value of the Chinese yuan and its status as a rising international currency remain solid despite the currency's recent weak performance against the US dollar, officials and currency experts said.
Wang Chunying, deputy head of the State Administration of Foreign Exchange, said that the recent depreciation of the yuan is a short-term change and did not alter the behavior of the yuan in registering two-way fluctuations while staying largely stable at a reasonable level.
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Joint debut of low-carbon bank card in Guangdong province on May 2nd 2022.
The China Development Bank, one of the country's policy banks, has provided 197.3 billion yuan (29.8 billion U.S. dollars) in green loans in the first quarter of the year.
Read more: China's policy bank provides 197.3 bln yuan in green loans in Q1
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China's central bank on Friday conducted 10 billion yuan (about 1.51 billion U.S. dollars) of reverse repos to maintain liquidity in the banking system.
The interest rate for the seven-day reverse repos was set at 2.1 percent, according to the People's Bank of China.
Read more: China central bank conducts reverse repos to maintain liquidity
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Tian Huiyu, former president of China Merchants Bank, has been under disciplinary and supervisory investigation, an official statement said Friday.
Read more: Former president of China Merchants Bank under investigation
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Commercial banks and insurers have got the green light from the regulators recently to trade Treasury bond futures, enabling them to better hedge interest rate risks amid the novel coronavirus epidemic, which has caused sharp volatility in global financial markets.
A Treasury bond is a government debt security that earns interest until maturity, at which point the owner is also paid a par amount equal to the principal.
Read more: China's Treasury bonds futures open for banks, insurers
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