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BEIJING, Aug. 5 (Xinhua) - China's banking regulator on late Thursday said the hypothetical situations in the risk tests of banks, such as a possible slump in property prices, does neither indicate the regulator's judgment on the property market nor possible changes in government property policies.The China Banking Regulatory Commission (CBRC) reaffirmed in an online statement that it allows banks in regions with soaring property prices to suspend loans for third homes according to their assessment on credit risks.The CBRC also said the down payment and the lending rate for third homes mortgage loans should be raised, but the specific amount should be determined by banks.The declaration was made in response to domestic reports that the CBRC had ordered banks in Beijing, Shanghai, Shenzhen, and Hangzhou to stop issuing loans to third home buyers.According to Bloomberg's Thursday report, the banking regulator had told lenders to include worst-case scenarios of prices dropping 50 to 60 per cent in cities where they have risen excessively, which signaled that the government might be growing more concerned about the health of the real estate market.

BEIJING, Aug. 13 (Xinhua) -- China and Switzerland on Friday agreed to start free trade agreement (FTA) talks, as the two states celebrate their 60th anniversary of diplomatic ties.Chinese President Hu Jintao and his Swiss counterpart, Doris Leuthard, witnessed the signing of the memorandum of understanding on finishing the FTA feasibility study that was started in 2009.The two states will begin FTA talks as soon as possible, the Chinese Ministry of Commerce said in a statement.Chinese President Hu Jintao (R) meets with Doris Leuthard, president of the Swiss Confederation and head of the Federal Department of Economic Affairs, at the Great Hall of the People in Beijing, capital of China, Aug. 13, 2010.As one of the first Western countries to forge diplomatic relations with the People's Republic of China, Switzerland has become China's major trade partner in Europe."Facing new opportunities, China-Switzerland relations are at a new starting point," Hu told Leuthard during their 30-minute meeting at the Great Hall of the People in Beijing.President Hu hailed the development of bilateral relations and pledged to further expand political trust and trade and economic cooperation.Leuthard conveyed her nation's condolences to China over the series of natural disasters the country has suffered recently.Leuthard also said Switzerland will stick to the one-China policy.In China for a working visit, Leuthard also said the two states should boost cooperation in finance, education, culture, environmental protection, tourism and on international affairs.
BEIJING, Aug.6 (Xinhua)-- China's Ministry of Finance announced Friday it will float a batch of 273-day book-entry treasury bonds worth 10 billion yuan (1.48 billion U.S. dollars) next week.A statement on the ministry's website said the bonds will be sold at 98.62 yuan per bill, with an annual yield of 1.88 percent.The bill will be sold to the public from Aug. 9 to 11, and become tradable in the exchange markets since Aug. 13, according to the statement.The interest is to be calculated on August 9.This is the 10th batch of its kind launched by the ministry this year.
BEIJING, June 10 (Xinhua) -- China's foreign exchange regulator said Thursday it will strengthen monitoring of cross-border capital flows to reduce risk.The regulator will keep a close watch on the economic and financial situation home and abroad this year, the State Administration of Foreign Exchange (SAFE) said in its annual report on management of foreign exchange posted on its website.It will also enhance its monitoring of abnormal cross-border capital flows by cracking down on illegal private banks and internet-based speculation in foreign exchange.The SAFE will maintain a prudent approach to managing foreign currency reserves and will continue to improve its diversification strategy.China's balance of payments continue to expand, albeit slowly, despite the impact of the global financial crisis.At the end of 2009, China's foreign exchange reserves hit 2.4 trillion U.S. dollars, a 453 billion U.S. dollar increase from the end of 2008.China had gold reserves of 1,054 tonnes at the end of last year, the fifth largest in the world.Although gold has commodity and monetary properties, the global gold market is relatively small and illiquid, the report noted, adding that because of its volatile price and high cost of holding and trading, gold has limited utility in asset allocation.
来源:资阳报