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...The chairs of some state banks, such as Liao Lin at Industrial and Commercial Bank of China, Gu Shu from Agricultural Bank of China and Cai Xiliang from China Life Insurance, now also outrank Pan in the...
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...The Bank of Japan is likely to hold off from raising interest rates next week but investors expect the central bank to outline its response to rising inflationary pressures caused by the yen’s decline....
...A Russian court ordered the seizure of $440mn from JPMorgan Chase after state-owned lender VTB filed a lawsuit to “recover losses” from the largest US bank....
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...Topher Forhecz is the FT’s executive producer. The FT’s global head of audio is Cheryl Brumley. The show’s theme song is by Metaphor Music. Read a transcript of this episode on FT.com...
...Meanwhile, the Bank of England MPC consists of nine policy makers and a common staff....
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...Instead of hedging the market value risk of bank asset declines, banks used accounting reclassification to diminish the impact of interest rate increases on book capital....
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...But on Tuesday, after eight years in the negative, the Bank of Japan governor Kazuo Ueda pulled it off in smooth style....
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...What is the economic future of China?...
...The EU and US found some stop-gap funding for weapons for Ukraine, China is scrapping a number of infrastructure projects in indebted regions, and US inflation ticked up unexpectedly....
...The Netherlands and China do almost €100bn of trade annually, with the port of Rotterdam being the entry point for many of Beijing’s exports to the EU....
...Pan’s predecessor, Yi Gang, also failed to make the cut at the 19th Congress in 2017. Maybe the decline of the power of the People’s Bank of China (PBoC) started earlier than you suggest....
...The large US bank intends to launch the wholly owned China-based unit by the end of the year, according to a person familiar with the situation....
...China’s industrial utilisation ratio, a measure of actual production compared with potential output, dropped to about 74 per cent in the first quarter, the weakest since the third quarter of 2016 excluding...
...The national team has been instrumental in stabilising China’s stock market, and one of the major participants is Central Huijin Investment, part of China’s $1.2tn sovereign wealth fund China Investment...
...Potanin’s complaints about the cost of sanctions reflect wider concerns in Moscow about US pressure on banks doing business with Russia, said Alexandra Prokopenko, a former central bank official....
...China holds the biggest voting share, with 27 per cent....
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...China Merchant Bank, one of the leading commercial banks in China, reported its first revenue drop since 2009 due to the central bank’s cuts in loan prime rate and weak credit demand....
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