22 Apr 2025
More recent developments
November 6, 2025
PBoC vows to reduce policy inconsistencies hindering cross-border RMB transactions
The central bank (PBoC) is hell bent on cleaning up the messy regulatory patchwork clogging up cross-border use of the RMB. The PBoC’s annual report on RMB internationalization, published on Thursday, made it a priority to: “Systematically remove policy bottlenecks”… Read More »
November 5, 2025
PBoC resumes bond trading to smooth yield curve
The central bank (PBoC) has resumed trading Chinese government bonds (CGBs). On November 4, the PBoC disclosed that it acquired a net RMB 20 billion worth of CGBs in October. Some context: In August last year, the PBoC started buying… Read More »
November 5, 2025
Beijing reduces tax breaks for gold jewelry sales
Gold jewelry sales are the latest target in Beijing's campaign to boost tax receipts. On November 1, the finance ministry (MoF) and the tax administration (STA) announced that, starting immediately: The input VAT rate for purchases of standard gold from… Read More »