The renminbi is now the world's fifth most popular international payment currency, and has the fourth placed Japanese yen in its sights. Financial policy reform and the introduction of new clearing centres have been crucial to this rise, but will the troubles the Chinese economy has experienced in the past few months derail its progress?
Latest articles from China
Interim results show top Chinese banks heading for a lacklustre year.
China's One Belt, One Road initiative – building a new Silk Road between western Europe and China's east coast as well as improving the Maritime Silk Road – will be a major game changer for international trade. Stefania Palma assesses its possible impact.
The intervention of the Chinese government when the country's stock market lost more than one-third of its value in mid-June did not surprise many people, but the timing and manner of the action has disappointed some.
A higher leverage ratio requirement would prove a challenge to 13 global systematically important banks.
Jiang Jianqing, the chairman of Industrial and Commercial Bank of China, explains how the largest bank in the world in capital, profits and assets is dealing with China’s economic slowdown, structural reforms and new privately owned, tech-savvy entrants in the banking sector.
China's economic growth is slowing and its banking sector is having to adapt to new policies aimed at bringing the market closer to the final reform of liberalising interest rates. Even the largest banks in the country have had to reconsider their strategies to face this evolving environment. How will they reinvent themselves? Stefania Palma reports.
The problems facing China's small, province-focused banks – the country's economic slowdown, deteriorating asset quality, increasing costs – are much the same as those facing the 'big four'. However, smaller banks are also having to contend with enormous debt problems run up by their provinces. Stefania Palma looks at how two of them – Bank of Nanjing and China Zheshang Bank – are faring.
The Postal Savings Bank of China has already stunned the market with its remarkable ascent since its establishment in 2007. Now, talks of an initial public offering, sustained growth and diversification of its business are making the bank's extraordinary rise even more impressive. Stefania Palma explores these new developments.
Shanghai is China’s biggest international financial centre in terms of inflows of foreign direct investment, while Beijing tops the table for outflows.
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