The People's Bank of China has blocked Tencent Holdings Ltd and Alibaba Group from offering customers with virtual credit cards, according to a source interviewed by Bloomberg News.
Breaking News
China's central bank said it would include all loans issued by trust companies in its database in an effort to curb risky lending.
China's central bank infused its local money markets with CNY 17 billion (USD 2.7 billion) and eased concern over a repeat of last month's credit squeeze.
China discards lending rates to allow financing institutions more freedom in packaging their lending rates.
China's central bank announced interest rate reform.
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