NPL ratio of commercial banks at 1.74%: CBRC
The non-performing loan (NPL) ratio of China’s commercial banks stood at 1.74% by the end of 2016, a 0.02% decrease from the third quarter, Yicai reported on Wednesday evening, quoting a China Banking Regulatory Commission statement. Performances of the country’s NPLs were stable throughout the year, the report added.
No credit or ratio limit on cross-border yuan receipts and payments
There will be neither be credit nor ratio limits on cross-border yuan receipts and payments if transactions met standard regulations, Yicai said on Wednesday evening, citing the People’s Bank of China. The aim is to boost convenience in trade and investments through cross-border yuan businesses, the report added.
SAFE pours cold water on rumours over import financing
The State Administration of Foreign Exchange (SAFE) on Wednesday confirmed that no currency restrictions had been introduced on import financing, Xinhua news agency reported. SAFE’s move was aimed at combating the rumours that China has put limits on cross-border financing to dampen capital outflow. The cross-border guarantee business for legitimate and verified trades and investments are not affected.
Test paves way for official digital trading platform’s launch
An official digital trading platform reportedly had a successful test paving the way for its launch soon, Yicai reported on Wednesday evening. Legal digital currencies issued by the People’s Bank of China could be traded on the platform, Yicai added. After the platform’s launch, China will be the first country to research and issue digital currencies.
Overseas investment on real estate hits US$33b in 2016
Chinese investments in overseas commercial and residential real estate has increased 53% to US$33 billion in 2016 from a year earlier, Beijing Business Today reported. Its report on Thursday cited data released by Jones Lang LaSalle, which showed investment in land, office buildings and hotels accounted for 90% of the total.
Average prices in major cities exceed 30,000 yuan for first time
The 2016 average housing price in major cities has increased 16.3% to 31,170 yuan per square meter from a year earlier, the Securities Daily reorted on Thursday, citing data from the Shanghai E-house Real Estate Research Institution. The prices in Beijing, Shanghai, Guangzhou and Shenzhen increased 20.5%, 19.6%, 10.9% and 56.2%, respectively, from 2015, the report added.
PBOC intensifies bitcoin probe
The People’s Bank of China will continue its investigation on bitcoin trading platforms that started on January 12 and bitcoin’s derived functions will be the main focus, a Shanghai Securities Journal report said on Thursday. The PBOC will inspect payments and settlements, check for money laundering, foreign exchange management and fund security, the report added.
China to guide development in general aviation networks
Local aerodromes will get guidance on establishing general aviation networks in 2017, Sina Finance reported on Thursday morning, citing a notice from the China Development and Reform Commission.