Yuan deposits held by local banks last month posted a fractional gain of 173 million yuan (US$24.78 million) to 259.94 billion yuan, as corporate clients called in loans to their affiliates in China, the central bank said yesterday.
The gain ended two straight months of decline, even though retail clients continued to lose interest in the currency as an investment tool due to falling yields, the central bank said.
Yuan deposits at domestic banking units rose 220 million yuan to 228.96 billion yuan, while those at offshore banking units shed 47 million yuan to 30.98 billion yuan, the central bank said.
Corporate clients increased their holdings as a result of capital adjustments often seen toward the end of the financial year, it said.
In particular, some local companies called in loans made to affiliated firms in China, it added.
Individual retail clients continued to trim their positions after yuan interest rates declined, the central bank said.
Shanghai Commercial and Savings Bank (上海商業儲蓄銀行) offers the highest interest rate for one-month yuan deposits at 2.6 percent, while Bank SinoPac (永豐銀行) pays the highest rate for three-month yuan deposits at 3 percent, it said.
Sunny Bank (陽信銀行) provides the highest interest rate on nine-month yuan deposits at 2.45 percent, it added.
Year-end cash requirements likely explain why short-term deposits have higher borrowing costs, the central bank said.
Taiwan’s rapidly aging population is fueling a sharp increase in homes occupied solely by elderly people, a trend that is reshaping the nation’s housing market and social fabric, real-estate brokers said yesterday. About 850,000 residences were occupied by elderly people in the first quarter, including 655,000 that housed only one resident, the Ministry of the Interior said. The figures have nearly doubled from a decade earlier, Great Home Realty Co (大家房屋) said, as people aged 65 and older now make up 20.8 percent of the population. “The so-called silver tsunami represents more than just a demographic shift — it could fundamentally redefine the
Businesses across the global semiconductor supply chain are bracing themselves for disruptions from an escalating trade war, after China imposed curbs on rare earth mineral exports and the US responded with additional tariffs and restrictions on software sales to the Asian nation. China’s restrictions, the most targeted move yet to limit supplies of rare earth materials, represent the first major attempt by Beijing to exercise long-arm jurisdiction over foreign companies to target the semiconductor industry, threatening to stall the chips powering the artificial intelligence (AI) boom. They prompted US President Donald Trump on Friday to announce that he would impose an additional
China Airlines Ltd (CAL, 中華航空) said it expects peak season effects in the fourth quarter to continue to boost demand for passenger flights and cargo services, after reporting its second-highest-ever September sales on Monday. The carrier said it posted NT$15.88 billion (US$517 million) in consolidated sales last month, trailing only September last year’s NT$16.01 billion. Last month, CAL generated NT$8.77 billion from its passenger flights and NT$5.37 billion from cargo services, it said. In the first nine months of this year, the carrier posted NT$154.93 billion in cumulative sales, up 2.62 percent from a year earlier, marking the second-highest level for the January-September
Asian e-commerce giant Shein’s (希音) decision to set up shop in a historic Parisian department store has ruffled feathers in the fashion capital. Anger has been boiling since Shein announced last week that it would open its first permanent physical store next month at BHV Marais, an iconic building that has stood across from Paris City Hall since 1856. The move prompted some French brands to announce they would leave BHV Marais, but the department store had already been losing tenants over late payments. Aime cosmetics line cofounder Mathilde Lacombe, whose brand was among those that decided to leave following
RSS