BEIJING: China's Bank of Communications (BoCom) plans to host an internal meeting on Wednesday (Aug 30) to discuss changing rates charged on existing mortgages, financial media outlet 21jingji.com reported. Chinese lenders are widely expected to cut interest rates on existing mortgages after the central ba
SHANGHAI/SINGAPORE (Reuters) - Chinese banks are ramping up efforts to promote international use of the yuan, and reporting a surge in cross-border yuan business from the country's booming trade with Russia and deepening ties with the Middle East. Harbin Bank Co, in China's Heilongjiang province neighboring Russia, saw its cross-border yuan business grow nine-fold last year to a record, as the Sino-Russia trade grew briskly after the Ukraine war began. | 12:09am
Chinese banks are ramping up efforts to promote international use of the yuan, and reporting a surge in cross-border yuan business from the country's booming trade with Russia and deepening ties with the Middle East.
This is becoming more apparent as the world’s largest non-Western economies, such as China, Russia, India, Egypt, and Brazil, are agreeing to trade in
Gold prices rallied from 11-week lows versus the Dollar on Tuesday as global stock markets also bounced with beaten-down bond prices ahead of tomorrow s US Fed rate hike