Chinese economy

China declares complete victory over absolute poverty

China declares complete victory over absolute poverty

Chinese President Xi Jinping on Thursday declared "complete victory" in eradicating absolute poverty in the world’s most populous country, local media reported. "The final 98.99 million impoverished rural residents …

China Is said to ban bitcoin exchanges

China Is said to ban bitcoin exchanges

China plans to ban trading of bitcoin and other virtual currencies on domestic exchanges, dealing another blow to the $150 billion cryptocurrency market after the country outlawed initial coin offerings last week, Bloomberg reports. …

People's Bank of China pumps $14.5 billion into market

People's Bank of China pumps $14.5 billion into market

The People's Bank of China (PBOC) conducted 95 billion yuan ($14.5 billion) in seven-day reverse repurchase agreements (repo), a process in which central banks purchase securities from banks with an agreement to resell them in the future. …