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China's broad M2 measure of money supply grew 14.2 percent in November on a yearly basis, 0.1 percentage lower compared with the previous month

The deal comes at a time when many international rivals, including Bank of America and Switzerland's UBS, are beginning to sell out of China.

ChiNext stocks, typically smaller, high-growth companies, were hurt by news at the beginning of the week about the restart of IPOs, which have been on hold for one year.

The People's Bank of China said Sunday that it will allow banks to trade deposits with each other from Monday, using a financial product called negotiable certificates of deposit (NCD).

China's demand for gold has jumped nearly 40 per cent this year as the appetite for jewellery, bars and coins increased sharply due to a sharp drop in gold prices.

An AMC in east China's Zhejiang Province has come into operation, and the idea of creating similar provincial "bad banks" is being tested in other provinces like Jiangsu, Anhui and Shanxi.

Activity share of RMB has grown to 8.66 percent in October, compared with 81.08 percent of USD and 6.64 of the Euro.

Lou explained that the fiscal and tax reforms will be achieved by fulfilling three objectives

"The PBOC's Opinion signifies a ground-breaking advancement of China's capital account reforms".

PBOC aims to promote market liberalization

ChiNext plunged by as much as 8.3 percent while the Shanghai Composite Index slipped 0.59 percent and the Shenzhen Component Index lost nearly 2 percent.

About 50 are expected to have finished all IPO procedures and be listed before the end of January 2014.

The Japanese stock market rallied more than 9 percent, China's benchmark SCI rose nearly 4 percent in November.

Reuters said there is a debate on whether the country should adopt the same insurance rate for all banks.

The move drew attentions from many Bitcoin lovers, but no transaction has been made so far.

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