More than 46 per cent of urban residents polled by People’s Bank of China say job market is ‘uncertain’, while 62 per cent aim to save more, in continued challenge for policymakers counting on domestic consumption to propel the economy.
Gold purchases in China rose by 5.9 per cent in the first quarter compared with the same period in 2023, as consumers seek security in ‘the only safe asset’, analysts said.
Investigation into Yao Qian, who serves as the director of the department of technology supervision at the China Securities Regulatory Commission, comes amid an uptick in market reforms.
China is readying a revision of its law on money laundering, signalling a hardening of penalties for financial crimes and a desire to keep practices in line with international standards.
The People’s Bank of China has indicated its approval for trading treasury bonds on the secondary market, signalling more robust action to boost liquidity and fuel growth is no longer out of the question.