(Bloomberg) China stuck to a holding pattern of supporting the yuan as pressure from a resilient dollar and poor sentiment weakens it toward a policy red line. Most Read from BloombergTrumpism Is Emptying ChurchesRBC Fires CFO Ahn After Probe Into Personal RelationshipThe Odds of $100 Oil Are Rising as Supply Shocks Convulse the MarketSaudis Scale Back Ambition for $1.5 Trillion Desert Project NeomTurkey Joins NATO Allies in Suspending Europe Arms TreatyThe People’s Bank of China set the dail
China’s financial regulators could continue to lower financing costs as a means to shore up confidence, according to CCB chief financial officer Sheng Liurong.
China’s 12 national joint-stock banks reported deep salary cuts last year, while 10 lenders also demanded employees return performance-based bonuses, amid Beijing’s ongoing efforts to reshape the financial industry.