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According to recent reports, Chinese authorities are going to impose a fine of more about than $1 billion on Jack Ma's Ant Group according to the six sources who had proper knowledge about the matter thereby setting the stage for ending the fintech company's two-year long overhaul. ....
People’s Bank of China: a guide to China’s interest rates Rebecca Cattlin April 28, 2021 10:26 AM The People’s Bank of China is somewhat of an enigma compared to other central banks. Find out everything you need to know about the PBOC and how its meetings influence financial markets. Share: What is the central bank of China? The central bank of China is called the People’s Bank of China or PBOC. It’s the body in charge of setting monetary policy – including setting interest rates – and regulating financial institutions in mainland China. The PBOC is known as the most financially resourceful bank in the world, but as of 2020, it only has the fourth-largest total asset holding of any central bank, totalling $5.9 trillion in 2020 – the other largest being the ECB ($8.9 trillion), the Fed ($7.6 tri ....