The People's Bank of China announced cutting its one-year loan prime rate (LPR), a key reference for household and business lending, trimming it from 3.1% to 3.0%. The five-year LPR, typically ...

The banks cut interest rates on time deposits by 5 bps to 0.05%, reduced rates on one-year time deposits by 15 bps to 0.95% and shaved off 25 bps on three-year and five-year time deposits.

Citigroup to cut 3,500 tech jobs in China by Q4 2025, shifting roles to other global tech hubs amid restructuring. Citi trims China tech staff as part of global cost cuts, eyes $2.5B savings and ...

The People's Bank of China said the one-year loan prime rate (LPR), a benchmark determined by banks, had been lowered by 10 basis points to 3.0% , while the five-year LPR was reduced by the same ...

Citigroup said Thursday it plans to cut around 3,500 technology positions in China, in the latest move by a major U.S. bank aimed at streamlining global operations and reduce costs.