BEIJING (Reuters) – China is considering a proposal to set up a regional bank to help its small and medium enterprises (SMEs) invest in Southeast Asian neighbours, fund infrastructure projects and promote development in southwestern China, two independent sources said.

After approval by the State Council, or cabinet, China would formally invite members of the Association of Southeast Asian Nations (ASEAN), Japan and South Korea to each take a stake in the ASEAN Bank, said the sources, who have direct knowledge of the proposal.

BEIJING (Reuters) – China is considering a proposal to set up a regional bank to help its small and medium enterprises (SMEs) invest in Southeast Asian neighbors, fund infrastructure projects and promote development in southwestern China, two independent sources said.

After approval by the State Council, or cabinet, China would formally invite members of the Association of Southeast Asian Nations (ASEAN), Japan and South Korea to each take a stake in the ASEAN Bank, said the sources, who have direct knowledge of the proposal.

BEIJING (Reuters) – China plans to sign an agreement with the 10-member Association of South East Asian Nations (ASEAN) to settle trade in yuan, said two independent sources, another step in China’s long campaign to make its currency one widely used beyond its borders.

The framework agreement with ASEAN — which as a block is China’s third-biggest trading partner — will pave the way for banks in China and the ASEAN countries to start exchanging yuan for ASEAN currencies, said the sources, both of whom have direct knowledge of the planned agreement.

BEIJING (Reuters) – China’s cabinet is considering creating a government agency to facilitate lending to cash-strapped small and medium-sized enterprises that have been driven to loan sharks and shadow banks by a Beijing-led credit clampdown, two independent sources said.

Many of these SMEs, a pillar of the economy, are drowning — squeezed by a firmer yuan, falling export orders and rising raw material, land and labour costs.

BEIJING, Sept 22 (Reuters) – Brazil’s proposal that large
emerging economies jointly provide new funds to help ease the
crisis in the euro zone is not feasible, Wei Jianguo, a former
Chinese vice commerce minister, told Reuters on Thursday.

South Africa’s Finance Minister Pravin Gordhan said earlier
that BRICS countries, namely Brazil, Russia, India, China and
South Africa, will talk about the idea at Thursday’s Washington
meeting of emerging economies.

BEIJING (Reuters) – Chinese President Hu Jintao has delayed the retirement of China Development Bank’s (CDB) chairman, sources said, suggesting that Beijing wants to keep a steady hand at the helm of the country’s most powerful policy bank at a time of rising economic risks and global market volatility.

In its policy role, state-owned CDB provides loans to China’s largest infrastructure projects and offers financial aid for China’s industrial giants to internationalize.

BEIJING (Reuters) – Chinese editorials flaying Washington for fiscal recklessness over its debt dramatics and downgrade mask a growing unease in Beijing: a fear that China’s own economic policies are shifting too slowly.

Interviews with a dozen high-ranking Chinese officials and government economists revealed frustration with China’s self-imposed fetters to the U.S. dollar and louder calls for a change, but no clear short-term plan to break free.

BEIJING (Reuters) – China should sit tight on its U.S. Treasuries investment and adopt a “no buy, no sell” strategy, former top Chinese parliamentary official Cheng Siwei said on Monday as Asian stocks tumbled on a historic downgrade of U.S. debt rating.

Taking aim at how China should invest its $3.2 trillion in foreign exchange reserves, the world’s largest, Cheng said China should use future reserves to buy other bonds and to make foreign direct investments.

BEIJING (Reuters) – Chinese editorials flaying Washington for fiscal recklessness over its debt dramatics and downgrade mask a growing unease in Beijing: a fear that China’s own economic policies are shifting too slowly.

Interviews with a dozen high-ranking Chinese officials and government economists revealed frustration with China’s self-imposed fetters to the U.S. dollar and louder calls for a change, but no clear short-term plan to break free.

BEIJING, Aug 3 (Reuters) – China is considering a proposal
to create a ministerial-level body to manage its state-owned
banks and non-bank financial enterprises, two sources with
knowledge of the plan said, a move that would strengthen
Beijing’s grip on its lenders.

China’s motivations for the move weren’t clear, but the step
could help the government tighten its control over the financial
sector at a time when worries about local debt obligations are
intensifying.