PBOC RAISE RESERVE REQUIREMENT RATIO FOR FOREIGN CURRENCY DEPOSITS

Highlights –

• PBOC raise reserve requirement ratio for foreign currency deposits.
• Chinese currency renminbi (RMB) remains high against the U.S. dollar.
• RMB has likely experienced some overshooting against the U.S. dollar.
• RM...

A joint venture formed between Ant Financial Services Group and Vanguard

An investment-advisory service is soon to be launched by the Ant Financial Services Group, as well as, Vanguard, which is the 5.9 trillion dollar asset manager based in the United States, for the consumers of China.

This new joint venture will be offering the retail investors' servi...