Tag: China

Monday, May 16th 2022 - 09:26 UTC
Weighting SDR's currency basket, Dollar and Yuan up; Euro, Yen and Pound down

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.
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Monday, May 16th 2022 - 09:13 UTC
China cuts mortgage rates for first home buyers; combats real estate giants speculation

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.
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Friday, May 6th 2022 - 09:49 UTC
Despite record profits, Maersk warns of stagflation and Chinese factory closures

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.
Wednesday, May 4th 2022 - 09:04 UTC
Beijing boasts Chinese companies purchase Russian coal and oil paying with Yuans

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.
Saturday, April 30th 2022 - 09:40 UTC
Chinese citizens, economy fear measures more than they fear COVID-19 itself

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.
Friday, April 29th 2022 - 22:23 UTC
China shares all data from base in Argentine Patagonia, ambassador says

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.
Wednesday, April 27th 2022 - 07:54 UTC
Bird flu reported in Chinese boy – first human case of H3N8

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.
Monday, April 25th 2022 - 09:30 UTC
China's Zero-COVID policy hits Chilean fruit exports

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.
Thursday, April 21st 2022 - 09:47 UTC
Brazilian port exporters feeling the pinch of less Chinese purchases

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.
Monday, April 18th 2022 - 15:29 UTC
China lowers banks' reserves to stimulate the economy

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.