The Economy

China not in hurry to develop digital currency: Central bank

China is in no hurry in developing a digital currency, Zhou Xiaochuan, the country's central bank governor, said in Beijing on Friday.

Prudent monetary policy to guide housing market, says PBOC

China will maintain prudent monetary policy to promote the development of the housing market, as risks in the sector remain under control, a vice-governor of the central bank said on Friday.

Central bank: Forex reserve to stay stable

China's foreign exchange reserve will basically remain stable given the stabilizing economic growth prospect and the stable foreign exchange rate, the central bank said on Friday.

China likely to reduce reliance on wide capital support for growth

China is likely to reduce reliance on wide capital support for economic growth as the country seeks high-quality development, China's central bank governor said Friday.

Fuxing trains eyeing global markets

The nation will take steps to globalize its high-speed railway technology standards this year to further boost the market potential of its Fuxing bullet trains in the international market, said a top company official of the country's railway network operator.

Beijing-Zhangjiakou automated high-speed train to test next year

An automated high-speed rail line linking Beijing and Zhangjiakou, host cities of 2022 Winter Olympics, will undergo testing next year.

Bad debt disposal seen improving

China's latest move to lower the regulatory requirement on the ratio of allowance for loan impairment losses to nonperforming loans will encourage commercial banks to classify bad loans more accurately and to step up the disposal of distressed debt.

Nuclear capacity set to be increased

Construction of six to eight nuclear reactors will commence in 2018, raising China's total nuclear generating capacity by 6 gigawatts, the National Energy Administration said on Wednesday.

3rd China-produced C919 to make its debut this year

By the end of this year China's third homemade C919 airliner will take off on its maiden flight from the fifth runway of Shanghai Pudong International Airport, Wu Guanghui, the general designer of the passenger jet, announced Tuesday at the ongoing National People's Congress (NPC).

China capable of forestalling systemic risks

China is confident of fully forestalling systemic risks, the country's financial minister said Wednesday, voicing firm stance on debt control.