China Announces New Bailout of Big Banks

Article Abstract:

China will provide $45 billion in loans to two of four government banks, the Bank of China and China Construction Bank. This will enable the banks to sell securities for the first time. The Chinese government hopes these loans will lead to better control of bank fraud and the banks' own customer bad loans.

Financial management, Banking industry, Finance, Company financing, Bank of China, China Construction Bank Corp., Foreign exchange reserves

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A Chinese Revaluation May Not Help U.S

Article Abstract:

The United States is pushing for a revaluation of the Chinese yuan, but even if it were revalued, China would still be in a very strong position to continue exporting inexpensive goods because of the differences in economic conditions between the countries.

Commodity & service prices, Imports, Exports, Manufacturing industry, Manufacturing industries, Economic aspects, Prices and rates, International aspects, Company pricing policy

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Saying Goodbye to Mr. Greenspan

Article Abstract:

China has decided to stop pegging the value of the yuan to the U.S. dollar, and thus Zhou Xiaochuan of the People's Bank of China will replace Alan Greenspan and the U.S. Federal Reserve Board in setting monetary policy.

Legal issues & crime, Government regulation (cont), Government regulation, Executive changes & profiles, Legal/Government Regulation, Capital funds & cash flow, Officials and employees, Laws, regulations and rules, Influence, Appointments, resignations and dismissals, Greenspan, Alan, United States. Federal Reserve Board, Powers and duties, Valuation, China. People's Bank of China, Zhou Xiaochuan

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