May 18, 2024
Finance

China PBOC Buys Gold for 17th Month as Prices Hit Record

(Bloomberg) — China’s central bank purchased gold for its reserves for a 17th straight month in March, extending a long buying spree that has helped the precious metal’s surge to a record. Most Read from Bloomberg Bullion held by the People’s Bank of China rose to 72.74 million fine troy ounces last month, according to

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Finance

China’s new rules for finance pull the brakes on gravy train, bringing ‘greed is good’ era to a halt

“Everyone, from the top brass to people like us in middle ranks, earn less than before,” said a credit manager with Bank of China, one of the country’s “big four” state-owned banks, lamenting the loss of the staggering bonuses that she used to bag in the industry’s heyday. China’s financial sector is always beholden to

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