Chinese Money Lending

A Chinese money-lending platform followed a scandalous practice of demanding nude photos of women as collateral for loans, Chinese media reported.

The central bank is stepping up an existing effort to stimulate the Chinese economy. The People's Bank of China decided in November to lower its benchmark one-year deposit rate 0.25 percentage point, to 2.75 percent, and reduce the one-year lending rate by 0.4 percentage point, to 5.6 percent.

The reduction of the yield on the 14-day bond repurchase agreement (repo) to 3.4 per cent, from 3.6 per cent, follows a surprise cut to benchmark lending rates on Friday to support the cooling economy, and follows similar moves in October and July as growth wobbled.

A Chinese money-lending platform followed a scandalous practice of demanding nude photos of women as collateral for loans, Chinese media reported.

The central bank is stepping up an existing effort to stimulate the Chinese economy. The People's Bank of China decided in November to lower its benchmark one-year deposit rate 0.25 percentage point, to 2.75 percent, and reduce the one-year lending rate by 0.4 percentage point, to 5.6 percent.

The reduction of the yield on the 14-day bond repurchase agreement (repo) to 3.4 per cent, from 3.6 per cent, follows a surprise cut to benchmark lending rates on Friday to support the cooling economy, and follows similar moves in October and July as growth wobbled.