IMF increased the Chinese Yuan's weighting in the Special Drawing Rights (SDR) currency basket to 12.28% from 10.92% in its first regular review of the SDR valuation since the Chinese currency was first included in the basket in 2016, the Chinese central bank, PCB, reported on Sunday.Add your comment!
China wants to inject more dynamism to the housing market and the Central bank plus the insurance regulator announced on Sunday a significant interest rate cut for first home buyers. This follows on almost two years of rampant speculation among giant real estate companies that almost led to a collapse of the market.Add your comment!
Møller-Maersk has warned of growing economic risks including potential stagflation and Chinese factory closures even as the world’s largest container shipping group by profits reported a record quarter.
Several Chinese companies purchased Russian coal paying in Chinese currency in March, and the first shipment would be made in April, according to Fenwei Energy Information Service Co., China’s leading information and service provider to the coal and coke industries. This is also the first shipment of Russian commodities paid in Yuan to arrive in China after Russia was sanctioned by Western countries.
The COVID-19 pandemic has almost the whole world going in one direction and China doing quite the opposite and measures of the utmost severity have led to the strict confinement of some 343 million people to enforce a zero-tolerance policy as cases of the Omicron variant keep being detected through mass, compulsory testing.
Argentina's Ambassador to Beijing Sabino Vaca Narvaja said China shared all the information on the space program with Argentina. His remarks came after US Southern Command Chief, Gen. Laura Richardson, expressed her concerns over the space station the Asian nation runs near the town of Bajada del Agrio in the province of Neuquén.
Chinese authorities Tuesday reported the first case in humans of H3N8 Avian influenza, although health specialists explained the risk of a large-scale epidemic was low.
Sanitary measures by Chinese health authorities to curb the spread of COVID-19, which include port closures, are taking a toll on Chile's fruit exports, it was reported Sunday.
Brazilian pork exporters are facing a tight situation following the fall in shipments to China, which seems to have recovered the hog herd faster than expected, following the outbreak of African Swine Fever, ASF, a couple of years ago.
China's central bank announced last Friday a flat reduction of 25 basis points of in banks' reserve requirements, as part of the anticipated pro-growth measures to stimulate the world´s second-largest economy. The slowing down of domestic consumption in the first half of the year, flared by the outbreaks in Shanghai, are expected to be stronger in the second half.