China‘s central bank refrained from gold purchases to its reserves for a second consecutive month in June, official data showed on Sunday. The pause by the People’s Bank of China (PBOC) started in May, when spot gold prices hit a record high. The previous 18 months of consistent buying by the PBOC, along with demand … Read more
In what could cast shadow over Sino-Russian bilateral ties China’s Union Pay — the Chinese state run financial services network, had suspended negotiations with Russian banks on issuing new bank cards for their customers, according to Russian media. Russian newspaper RBC reported last week that UnionPay, the Chinese state–led financial services network, had suspended negotiations … Read more
China’s central bank will soon have access to private credit information of hundreds of millions of users of Ant Group‘s online credit service, in a move signaling more regulatory oversight of the financial technology sector. Huabei, Ant Group’s credit service, said in a statement that consumer credit data it has collected will be included in … Read more