Banking in China

The number of people with unpaid consumer loans and credit card payments declined by 11.6 percent last year from 2022 to 1.32 million, according to data Encazip compiled.

In 2022, nearly 1.5 million people failed to make consumer loans and credit card payments, according to the numbers of the Turkish Banks Association's (TBB) Risk Center.

China's Central Bank yesterday cut two benchmark interest rates, following several similar measures in recent days in a bid to counter the post-COVID growth slowdown in the world's second-largest economy.

Last week, the People's Bank of China (PBoC) lowered two other key rates and pumped billions into financial markets, as fresh data showed the economy continued to struggle.

Four are in China

Outstanding short- and long-term debts of Turkey's private sector declined in March, the Turkish Central Bank said on May 17. 

The total foreign debt of private sector saw $170.2 billion as of March, falling by $3.5 billion.

The Chinese province at the epicenter of the coronavirus outbreak reported a record rise in the death toll on Feb. 13 under a new diagnostic method, and Beijing sacked two top provincial officials after criticism of their handling of the crisis.

At an internal meeting in April, the new head of China’s banking regulator said he would resign “if the banking industry becomes a complete mess”. On Friday Guo Shuqing and colleagues at the China Banking Regulatory Commission were working to ensure that they had not just created exactly that.

China's Central Bank announced on April 19 it would cut the level of funds that commercial banks must 
hold in reserve by one percentage point, the second such move this year to boost lending.

The move, effective April 20, comes days after the world's second largest economy reported its worst quarterly growth figure for six years.