The onshore yuan slipped 0.17 percent to 6.8402 per dollar as of 4:02 p.m., while the Shanghai Composite Index closed down 1.3 percent at its lowest since February 2016. The ChiNext gauge of small caps and tech stocks fared even worse, tumbling 2...
Chinese leaders pledged to make controlling financial risk a top priority. Their challenge is to do so without derailing the economy.
Offshore platforms targeted after recent efforts to shut down domestic exchanges failed to eradicate trading.
The authorities said they would stop funds being illegally funneled into property and that capital flow would be more forcibly balanced between real estate and other industries.
China is on a drive to reduce its reliance on debt, a habit that some experts warn could lead to a global financial crisis.
Chinese banking regulators have told lenders to crack down on the use of consumer loans to finance home purchases, the latest effort to cool down the overheated property market and rein in financial risk.
S&P’s one-notch downgrade to A+ from AA- comes as Beijing grapples with the challenges of containing financial risks stemming from years of credit-fueled stimulus to meet ambitious government economic growth targets.
Coincidence or not, China appears set to ease restrictions on foreign automakers and banks amid sustained pressure from U.S. President Donald Trump to open up its economy.
China is planning to sell dollar-denominated bonds for the first time in a decade, as it seeks to take advantage of investor appetite for Chinese credit amid the country’s unexpectedly strong economic growth.
Chinese regulators ordered a halt to all virtual currency trading platforms in the country, acting to further rein in risks related to cryptocurrencies, Caixin learned from a source close to regulators.
