China’s broadest measure of new credit fell 19 percent from a year earlier and money supply grew at the slowest pace on record, underscoring risks of a deeper slowdown as the government tries to curb financial dangers.
Wall Street hiring in Asia is coming under increasing scrutiny in the wake of a U.S. criminal investigation into whether JPMorgan Chase & Co. employed children of China’s elite in violation of anti-bribery laws.
China’s central bank Governor Zhou Xiaochuan said deposit rates will be liberalized in one to two years, as the nation expands the role of markets even amid an economic slowdown and risks from a credit boom.
China’s factory output and investment growth probably weakened in December, adding to signs the world’s second-largest economy is losing momentum as analysts forecast 2014 expansion at the lowest in 24 years.
China’s State Council may “dynamically fine-tune” the nation’s monetary and real estate policies, the Shanghai Securities News reported today, citing Li Wei, deputy director of the State-owned Assets Supervision and Administration Commission.
Li Wei, a Shanghai-based economist with Standard Chartered Plc comments on China’s central bank announcement today that it would cut banks’ reserve requirement ratio by 50 basis points. Li commented by e-mail.