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Cheng Leng

China business and finance reporter

Cheng Leng writes about China's financial regulations, banking, metals and other business news out of Hong Kong for the Financial Times. Before joining the FT, Cheng was the China finance correspondent for Reuters and Caixin based in Beijing.
Email Cheng Leng @cheng_leng_  on Twitter (link opens in a new browser window)
  • Friday, 2 August, 2024
    People's Bank of China
    Chinese yields hit record lows as investors defy central bank warnings

    People’s Bank of China struggles to convince traders that market is overheating

    Members of China’s People’s Liberation Army (PLA) walk past the People’s Bank Of China (PBOC) headquarters in the financial district of Beijing
  • Monday, 29 July, 2024
    Chinese business & finance
    China’s state-owned funds and lenders claw back pay and bonuses

    Crackdown on bankers extends to Hong Kong as Beijing broadens scrutiny of finance sector

    Pedestrians walk past a branch of China Citic Bank in Hong Kong
  • Tuesday, 23 July, 2024
    News in-depthChinese economy
    China’s Xi bets on high tech for ‘great rejuvenation’

    Communist party’s third plenum reinforces focus on self-sufficiency but fails to assuage fears about weak consumption or oversupply

    A montage of Xi Jinping in front of a background of a factory making robotic arms and people buying iphones in Beijing
  • Monday, 22 July, 2024
    Chinese economy
    China cuts interest rates in bid to prop up lagging economic growth

    Reductions come in wake of Communist party’s third plenum but impact likely to be moderate, warn analysts

    Exterior of the headquarters of the People’s Bank of China
  • Friday, 19 July, 2024
    Nomura International PLC
    Nomura banker leaves mainland China after exit ban lifted

    Charles Wang Zhonghe was prevented from leaving the country last year

  • Friday, 19 July, 2024
    Chinese politics & policy
    Chinese official calls for ‘proactive’ stimulus to distribute growth across economy

    Communist party’s deputy director for economic affairs points to ‘divergence’ between regions and low consumption

    Shen Chunyao, second from left, director of the Legislative Affairs Commission of the Standing Committee of the National People’s Congress, Mu Hong, third from left, member of the CPC Leading Group and vice chairperson of the National Committee of the Chinese People’s Political Consultative Conference, Han Wenxiu, third from right, deputy director in charge of routine work of the office of the Central Financial and Economic Affairs Commission, Huai Jinpeng, second from right, secretary of the CPC Leading Group of the Ministry of Education and also Minister of Education, and Tang Fangyu, right, Deputy Director of the Policy Research office attend a press conference of the Central Committee of the CPC in Beijing on Friday
  • Thursday, 18 July, 2024
    PwC
    PwC loses two-thirds of accounting revenues from clients listed in mainland China

    Firm tells partners to ‘stay calm’ as exodus of companies prompts lay-offs and cost cuts

    PwC building in Shanghai
  • Thursday, 18 July, 2024
    Chinese politics & policy
    China’s leaders warn of economic risks and call for stronger social controls

    Top Communist party committee outlines need to ‘prevent ideological risks’ at five-year policy meeting

    A man watches a large screen showing President Xi Jinping
  • Wednesday, 17 July, 2024
    HSBC Holdings PLC
    HSBC promotes Georges Elhedery to chief executive

    Bank’s finance head was seen as leading candidate to take over from Noel Quinn

    Georges Elhedery
  • Thursday, 11 July, 2024
    News in-depthChinese economy
    China plays down hopes for ‘strong medicine’ on economy at third plenum

    Communist party’s third plenum next week expected to focus on investment in cutting-edge tech and fiscal policy

    China’s President Xi Jinping applauds at the opening session of the National People’s Congress in Beijing on March 2024
  • Wednesday, 10 July, 2024
    News in-depthPeople's Bank of China
    China’s central bank arms itself for rare bond market intervention

    People’s Bank of China tries to stem rush into sovereign debt amid weakening economy

    Montage of the People’s Bank of China headquarters with renminbi notes in the background
  • Tuesday, 2 July, 2024
    Chinese business & finance
    Global investment banks cut jobs in China retreat

    Wall Street and European groups scaled back in 2023 in ‘challenging’ environment

    A montage of the Chinese flag with the logos of UBS, Goldman Sachs, HSBC, Morgan Stanley and Deutsche Bank
  • Monday, 1 July, 2024
    People's Bank of China
    China’s central bank moves to address bond frenzy

    Officials are increasingly uncomfortable with a rally pushing borrowing costs to lowest level in decades

    The People’s Bank of China building
  • Wednesday, 19 June, 2024
    Chinese economy
    China central bank chief warns of weaker credit growth as property lending declines

    ‘Many loans in China are not efficient,’ Pan Gongsheng tells major financial forum

    Pan Gongsheng speaking into a microphone
  • Saturday, 8 June, 2024
    Saudi Aramco
    Saudi Aramco prices stock offer at low end of range in $11.2bn sale

    Oil company targets international investors as government raises funds

    General view of Saudi Aramco’s Shaybah oil field in the Empty Quarter, Saudi Arabia
  • Thursday, 30 May, 2024
    Renminbi
    Pressure mounts on Beijing to allow renminbi to weaken

    Markets push central bank for a weaker currency to reflect the gap in bond yields with the US

    A woman holds Chinese yuan banknotes in Shenzhen
  • Wednesday, 29 May, 2024
    PwC
    Key clients desert PwC China as Big Four rivals circle

    Accounting firm under cloud over audits of distressed property developer Evergrande and faces severe penalties

    A clerk counts banknotes at a branch of China Merchants Bank
  • Monday, 27 May, 2024
    Chinese business & finance
    China raises $47bn for chip industry in drive for self-sufficiency

    ‘Big Fund’ completes its largest round to date with makers of equipment for chip factories expected to be main beneficiaries

    Tthe headquarters of Semiconductor Manufacturing International in Shanghai, China
  • Monday, 27 May, 2024
    Hong Kong economy
    Hong Kong woos Chinese mainlanders eager for more cash and freedom

    Territory tries to maintain allure in wake of pandemic and political crackdown

    Tourists from mainland China enter Hong Kong through the Lo Wu border checkpoint
  • Wednesday, 22 May, 2024
    Sovereign bonds
    Chinese sovereign bond trading suspended after frantic retail buying

    Small investors hunting for haven assets take advantage of easier access to special 30-year debt

    The Shenzhen Stock Exchange building
  • Wednesday, 22 May, 2024
    PwC
    PwC faces crisis in China over audit of failed property giant Evergrande

    Role in approving accounts has led to infighting at Big Four firm as clients reconsider relationship

    Raymund Chao, Asia-Pacific chair of PwC, left, and Hui Ka Yan, founder of Evergrande, with the logo of PwC and an Evergrande building in the background
  • Thursday, 16 May, 2024
    Cyber Security
    Arup lost $25mn in Hong Kong deepfake video conference scam

    UK-based engineering group identified as target of fraud that used digitally cloned CFO to trick staff

    A shadowy hand taps at a laptop
  • Thursday, 16 May, 2024
    Chinese business & finance
    China’s biggest banks launch first sales of special loss-absorbing debt

    TLAC bonds are part of push from international regulators to shore up balance sheets

    The Industrial and Commercial Bank of China and Agricultural Bank of China buildings in Shanghai
  • Monday, 13 May, 2024
    Chinese equities
    China reduces access to live data on share trades by foreign investors

    Regulators intensify efforts to curb volatility and introduce measures to bolster market sentiment

    A dotted map of Asia with the western half coloured blue and the eastern half coloured red, lines running across the map, and a renminbi note on the right
  • Monday, 13 May, 2024
    Chinese business & finance
    China fires starting gun on $140bn debt sale to boost economy

    PBoC and finance ministry firms up plans for long-dated bonds to support investment

    Chinese one-hundred yuan banknotes
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