PBOC

PBOC to raise forex reserve ratio to 6% to curb yuan rally

On Tuesday, November 3, China's central bank said it will make financial institutions hold more of their foreign-currency deposits in reserve. The move tightens onshore dollar liquidity and is meant to take some momentum out of the yuan's rally. The…

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Yuan hits four-year high after China’s GDP beats forecasts

China's yuan rose to its strongest level against the U.S. dollar in more than four years on Monday, October 19. The move followed third-quarter growth figures that came in above forecasts and took some pressure off Beijing to roll out…

PBOC rejects yuan undervaluation claims before EU talks

China's central bank said on Thursday, Oct. 8, that it has never pursued competitive depreciation of the yuan. The statement came as European officials push for a stronger Chinese currency and EU trade chief Maros Sefcovic was in Beijing for…

China’s gold imports top 1,000 tons in 2026, already surpassing all of last year

China's gold imports surpassed 1,000 tonnes through August 2026, already exceeding the country's total for all of 2025 and setting a record pace since comparable customs data began in 2017, Bloomberg reported on Monday.

Yuan hits 3.5-year high as PBOC signals goodwill before Trump-Xi summit

China's yuan climbed to a 3.5-year high against the dollar on Tuesday as the People's Bank of China set a firmer daily fixing for the 10th consecutive session, the longest such streak since late 2023, in what analysts describe as…

China holds rates steady as Fed, BOJ, ECB tighten

In the span of ten days, the world's most influential central banks moved in close succession to raise interest rates, marking the clearest synchronized tightening effort since the post-pandemic inflation fight and underscoring the economic toll of the Iran war…

China holds lending rates steady for record 16th month

China kept its benchmark lending rates steady on Sunday, extending a record streak of unchanged rates to 16 consecutive months as policymakers balance domestic economic weakness against a widening interest rate gap with the United States.

Yuan hits four-year high as PBOC guides currency up before Trump-Xi summit

The offshore yuan climbed to its strongest level since July 2022 on Friday, reaching 6.6957 per dollar, as the People's Bank of China strengthened its daily currency fixing for an eighth consecutive session — the longest such streak since 2023.…

Fed rate hike pressures China’s plans for further easing

The Federal Reserve's first interest rate increase in more than three years is putting new pressure on Beijing's plans to loosen monetary policy, forcing China's central bank to weigh the risk of capital outflows against the need to support a…

PBOC strengthens yuan fix for fifth straight day ahead of Trump-Xi summit

China's central bank guided the yuan higher for a fifth consecutive session on Tuesday, sending the clearest signal yet that Beijing wants currency stability ahead of a closely watched meeting between President Xi Jinping and President Donald Trump later this…

China’s August bank loans miss forecasts by wide margin

China's new bank loans returned to positive territory in August but fell far short of expectations, underscoring the persistent weakness in household and corporate borrowing that continues to weigh on the world's second-largest economy.

PBOC adds most gold since 2023, extending streak to 22 months

The People's Bank of China added 650,000 ounces of gold to its reserves in August, its largest single-month purchase since October 2023 and the 22nd consecutive month of buying, according to official data released on Monday.

Chinese yuan hits 3.5-year high as dollar weakens

China's yuan strengthened to its highest level against the U.S. dollar in more than three years this week, as broad dollar weakness and expectations of tighter monetary policy in Japan pushed Asian currencies higher. The USD/CNY exchange rate fell to…

PBOC sets strongest yuan fix in over 3 years while braking appreciation

China's yuan is trading near its strongest level in more than three years against the dollar, with the People's Bank of China setting its daily reference rate at the firmest level since February 2023 while simultaneously acting to prevent the…

China’s July bank loans post record contraction on weak demand

China's new yuan loans contracted by 340 billion yuan ($50.4 billion) in July, marking the worst monthly decline on record and far exceeding forecasts, as weak borrowing demand from households and businesses underscored the persistent challenges facing the world's second-largest…

Yuan hits 3.5-year high as US inflation data weighs on dollar

China's yuan strengthened to its highest level against the US dollar in more than three years on Thursday, as softer-than-expected US inflation figures weighed on the greenback and tempered expectations for further Federal Reserve tightening.

Gold hits 10-week high as China’s record buying streak reaches 21 months

The People's Bank of China added about 20 tons of gold to its reserves in July, its largest single-month purchase in nearly three years, as the central bank extended a buying streak that has now lasted 21 consecutive months.

PBOC posts largest monthly gold purchase since Oct. 2023

China's central bank accelerated its gold accumulation in July, adding 640,000 ounces — nearly 20 metric tons — to its reserves in the largest monthly purchase since October 2023, according to official data released Friday. The People's Bank of China…

PBOC builds up gold reserves in Hong Kong, shifting stockpile from London

China's central bank has been quietly building up gold inventories in Hong Kong over the past few months, accelerating a shift of reserves away from London and closer to home in a move that bolsters the city's push to become…

Offshore yuan hits 3-year high on Politburo stimulus pledge

China's offshore yuan rose to a fresh three-year high on Friday after the People's Bank of China held its daily fixing rate stronger than 6.79 per US dollar for a third consecutive session, while a high-level Communist Party meeting reinforced…

Chinese yuan hits 3.5-year high as dollar weakens after Fed holds rates

The Chinese yuan strengthened to 6.76 per US dollar on Thursday, its firmest level since early 2023, after the Federal Reserve held interest rates steady and offered no forward guidance on its next move.

China’s gold imports surge 89% in first half of 2026

China imported 864.95 tonnes of gold in the first half of 2026, an 89.1% jump from 457.39 tonnes in the same period last year, as declining international prices and a stronger yuan drew investors and commercial banks back into the…

Asian currencies rally as dollar weakens after Fed holds rates steady

Several Asian currencies strengthened on Thursday as the US dollar weakened broadly following the Federal Reserve's decision to hold interest rates steady overnight, with China's yuan, India's rupee, and the Philippine peso all posting gains.

China set to hold lending rates for 14th month despite weakest GDP in 3 years

China's central bank is expected to keep its benchmark lending rates unchanged for a 14th consecutive month when it announces its latest loan prime rate decision on Monday, even as the economy posted its weakest quarterly growth in more than…

PBOC pushes back on calls for sharp yuan appreciation

China's central bank on Wednesday signaled it sees little need to engineer a rapid yuan appreciation, pushing back against growing pressure from trading partners who argue the currency remains artificially cheap.

China’s June bank lending misses forecasts again

Chinese banks extended 1.61 trillion yuan ($237.75 billion) in new loans in June 2026, more than tripling May's 520 billion yuan but falling well short of market expectations, underscoring the economy's continued struggle with anemic credit demand amid a prolonged…

China’s June bank loans miss forecasts despite tripling from May

Chinese banks extended 1.61 trillion yuan ($237.9 billion) in new loans in June, more than tripling May's 520 billion yuan but falling well short of the roughly 2 trillion yuan analysts had expected, according to People's Bank of China data…

China’s Q2 GDP growth hits 3.5-year low as credit misses

China's credit growth fell short of expectations in June, adding to a grim economic picture after second-quarter GDP data released on Wednesday showed the slowest expansion in more than three years.

China’s CPI slows to 1% in June, keeping door open for PBOC easing

China's consumer price index rose 1% year-on-year in June, slowing from 1.2% in May and missing market expectations, as energy costs eased and domestic demand remained subdued. The data, released Thursday by the National Bureau of Statistics, underscored the persistent…

China 10-year bond auction hits all-time demand record

China's benchmark 10-year sovereign bond auction on Wednesday drew the strongest demand ever recorded, with the bid-to-cover ratio reaching 7.23 — an all-time high — as investors rushed to lock in yields amid expectations of prolonged monetary easing and sluggish…