Lin Jinbing
Caixin Global
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Past articles by Lin:
Prosecutors Sign Off on Arrest of Former Boss of Policy Bank CDB
Prosecutors Sign Off on Arrest of Former Boss of Policy Bank CDB - Authorities have issued a warrant for Hu Huaibang, who is under suspicion for taking bribes → Read More
Short-Term Reference Rate for Loan Pricing Edges Down
Short-Term Reference Rate for Loan Pricing Edges Down → Read More
Exclusive: Fintech Unicorn Lufax May Turn to Plan B if IPO Attempts Flop
Exclusive: Fintech Unicorn Lufax May Turn to Plan B if IPO Attempts Flop → Read More
Policy Funneling Credit to Small Businesses Is Costing Small Banks Their Clients
China’s policy to boost lending to small businesses has had unintended consequences for small banks. In an attempt to meet government targets for lending to small enterprises, some big banks in some regions have poached high-quality clients from small and midsize local lenders by offering them lower interest rates, the law-enforcement inspection team of the Standing Committee of the National… → Read More
China to Issue Sovereign Bonds in Macao For First Time
China to Issue Sovereign Bonds in Macao For First Time → Read More
China, U.K. Launch Stock Connect Program
The long-awaited Shanghai-London Stock Connect program is up and running. The China Securities Regulatory Commission and the U.K. Financial Conduct Authority, the two countries’ securities watchdogs, made a joint announcement Monday of their approval of the program, which allows companies from both markets to raise capital in the other. Under the program, eligible companies listed on the London… → Read More
Trade Issues Could Trigger Competitive Devaluation: Ex-Central Bank Chief
Global trade tensions could push multiple countries to begin competitive devaluation of their currencies, former central bank head Zhou Xiaochuan said. That would compromise the shared aim of preventing competitive devaluation held by the Group of 20, a forum comprising major economies including China and the U.S., Zhou said Friday at the Lujiazui Forum in Shanghai. No country can benefit from… → Read More
Former Shandong Securities Watchdog Placed Under Graft Investigation
A former chief of the China Securities Regulatory Commission’s (CSRC) provincial branch in East China's Shandong province has been placed under investigation by authorities for alleged “serious violations in law and discipline” — a phrase often used to refer to corruption. The investigation of Xu Tie, announced jointly by a team from the Communist Party’s Central Commission for Discipline… → Read More
China’s New High-Tech Board Begins Operations
China’s new Nasdaq-style high-tech board starts operations — today. Yi Huiman, chairman of the China Securities Regulatory Commission, announced the news this morning in Shanghai. Proposed by President Xi Jinping in November, the board is designed to improve the Chinese mainland’s appeal to technology companies and encourage them to list on the mainland rather than overseas. A key change is the… → Read More
Central Bank to Issue Bills in Hong Kong
China’s central bank said Tuesday it will issue bills in Hong Kong, though it did not release details of the amount it will sell. By absorbing yuan funds in the offshore market, the issuance of central bank bills can reduce the amount of yuan commercial banks have available to lend. The move could help push up the cost of yuan shorting. As the domestic economy cools and trade tensions persist,… → Read More
Debt-for-Equity Swaps Gain Momentum Amid Influx of Bank Funds
China’s latest round of debt-for-equity swaps aimed at reducing corporate leverage has gained momentum after the central bank freed up commercial banks’ reserves to support the campaign. As of the end of April, a number of companies had implemented debt-for-equity swaps with investors involving a total of 909.5 billion yuan ($131.6 billion), Lian Weiliang, a deputy director of the National… → Read More
Commerce Ministry Calls U.S.’ Claim of $500 Billion-Plus Trade Deficit With China ‘False’
The U.S. government’s claim that it had an annual trade deficit of more than $500 billion yuan with China is “false,” China’s Ministry of Commerce said Thursday in a research report, partly blaming statistical differences. China’s official calculations show that its trade surplus in goods with the U.S. was around $323.3 billion in 2018, lower than the U.S. figure of $419.2 billion, the report… → Read More
World Bank Cuts Forecast for China’s 2020 Growth Amid Trade Tensions
The World Bank has revised down its forecast for China’s economic growth in 2020 to 6.1% from the previous 6.2%, blaming the ongoing Sino-U.S. trade tensions. “China’s immediate policy challenge is to manage disruptions caused by trade tensions with the United States without exacerbating domestic vulnerabilities,” the global development institution said in a report Wednesday on world economic… → Read More
Central Bank to Unify Benchmark, Market-Based Lending Rates
Central Bank to Unify Benchmark, Market-Based Lending Rates → Read More
Central Bank Injects Net $3.5 Billion Into Financial System
China’s central bank issued 200 billion yuan ($29.1 billion) of medium-term lending facility (MLF) loans on Tuesday, the bank said in a statement. The amount is 24 billion yuan more than the combined 176 billion yuan of MLF loans and reverse repo due on the same day. On Wednesday, the People’s Bank of China will cut its reserve requirement, the amount of cash banks must keep in reserve, for some… → Read More
Central Bank Dismisses Rumors, Says It Will Not Tighten or Loosen Monetary Policy
China’s central bank has no intention of tightening or loosening its monetary policy, one of its deputy governors Liu Guoqiang said Thursday at a press briefing. Liu’s words came after the People’s Bank of China (PBOC), in a rare move, dismissed rumors about monetary-loosening twice within one month. “When analyzing the economic situation for the first quarter (on Friday), the Politburo required… → Read More
China’s Tax Cuts Total $50 Billion in First Quarter
China lowered the tax burden on individuals and businesses by 341.1 billion yuan ($50.8 billion) in the first quarter of 2019, the State Taxation Administration said Tuesday at a press briefing. Beijing has pledged nearly 2 trillion yuan of tax cuts for this year, aiming to pump more oil into the slowing economy. On the individual level, China amended the personal income tax law last year,… → Read More
China’s 2017 GDP Data Was Not Falsified, Official Says
China’s 2017 GDP Data Was Not Falsified, Official Says → Read More
Investment Banker Stirs Up Bond Underwriting Business with Bribes, Ratings Help
Investment Banker Stirs Up Bond Underwriting Business with Bribes, Ratings Help → Read More
High-Tech Firms Flee Beijing for Better Financing in Shanghai
High-tech firms seeking a better future are fleeing Beijing’s struggling over-the-counter (OTC) market for Shanghai’s new high-tech board. So far, at least three companies have planned to delist from the OTC stock-trading market — also known as the “New Third Board” — and list on the Nasdaq-style high-tech board. After several years of explosive growth, the OTC market has faced sluggish… → Read More