Tag: China

Tuesday, December 1st 2015 - 07:53 UTC
Yuan joins the exclusive club of IMF's basket of reserve currencies

The International Monetary Fund (IMF) has announced that China's currency, the Yuan, will join the fund's basket of reserve currencies. Currently just the US dollar, the euro, the yen and the pound are in the group.
Tuesday, November 24th 2015 - 10:24 UTC
China prepared to intensify strategic partnership with Argentina

China congratulated Mauricio Macri on Monday for winning Argentina's presidential election and underlined the comprehensive strategic partnership.
Monday, November 23rd 2015 - 10:42 UTC
Unfair to claim China sparked a 'currency war', argues India's central bank

”It’s unfair to pin the blame on the August 11 Yuan devaluation because currencies were already declining due to the “unconventional monetary policies” of some nations, Raghuram Rajan was cited as saying in an interview with the SCMP.
Monday, November 23rd 2015 - 09:39 UTC
China's Yuan to be included in IMF's SDR basket of currencies

The inclusion of the Chinese currency in the International Monetary Fund's special drawing rights (SDR) basket is long awaited, long overdue and, finally, all but a foregone conclusion.
Monday, November 23rd 2015 - 08:46 UTC
China cracks on 'underground banks' to combat corruption and capital outflows

China said it cracked the nation’s biggest “underground bank,” which handled 410 billion Yuan (USD64 billion) of illegal foreign-exchange transactions, as the authorities try to combat corruption and rein in capital outflows that have hit records this year.
Tuesday, November 17th 2015 - 08:54 UTC
Two Chinese nuclear plants for Argentina in a 15bn dollars deal

Argentina signed two nuclear power plant construction deals with China on Sunday worth around US$15 billion, which would add 1,750 megawatts to the energy already produced by the country's three nuclear power plants.
Tuesday, November 10th 2015 - 08:00 UTC
China imports drop for twelfth month running: 18.8% in October

China saw imports drop for the twelfth month in a row in October giving further cause for concern over the Chinese economy. Imports by the world's biggest trader of goods fell 18.8% from a year earlier to $130.8bn, a slight improvement on September's 20.4% decline.
Thursday, November 5th 2015 - 07:30 UTC
Beijing and Taiwan leaders to meet for the first time in 66 years, in Singapore

Just weeks before Taiwan holds general and presidential elections, Taiwan President Ma Ying-jeou announced he will hold face-to-face talks with Chinese leader Xi Jinping in Singapore. The meeting Saturday will be the first between Taiwanese and Chinese leaders since 1949 and authorities in China are predicting it will be a “major historic milestone” in the development of cross-strait relations.
Tuesday, November 3rd 2015 - 12:38 UTC
Chinese manufacturing contracts for third month running

Chinese manufacturing has contracted for the third month in a row, according to the government's latest factory survey. The Purchasing Managers' Index (PMI) showed a reading of 49.8 for October, unchanged from last month. A figure below 50 indicates that factory activity contracted.
Monday, November 2nd 2015 - 09:18 UTC
China's Renmimbi has become world's second most used currency in trade finance

As China establishes itself as the world’s second largest economy and top trading nation, its currency, the renminbi (RMB), is also gaining popularity around the world. According to the People’s Bank of China’s 2015 Renminbi Internationalization Report, the RMB was the world’s 5th most used payment currency, the 2nd most used trade finance currency, and the 6th most traded currency in 2014.