Tag: Yuan

Tuesday, September 30th 2014 - 22:50 UTC
Argentina/China trade forecasted to boom in Yuan-denominated operations

Trade between Argentina and China could see a rise in Yuan-denominated operations after the bilateral currency swap deal that was sealed earlier this year, according to key leaders of the Sino-Argentine business community in Buenos Aires.
Wednesday, June 11th 2014 - 01:54 UTC
China's Yuan gaining ground as world currency even for the US

SWIFT's Tracker for the Chinese currency (Yuan or Renminbi, RMB) shows that United States' Yuan payments value increased by 327% between April 2013 and April 2014, placing the United States at number three 3 in the world for payments value, excluding China and Hong Kong.
Thursday, April 17th 2014 - 07:47 UTC
Yuan is 'significantly undervalued' US Treasury tells China

United States has told China its currency must be allowed to rise if it and the global economy are to see stable growth. The US Treasury's twice-yearly report to policymakers says the Yuan is “significantly undervalued”.
Friday, March 28th 2014 - 06:45 UTC
London becomes hub for Chinese currency dealings and clearing

The Bank of England has agreed a deal with the People's Bank of China to make London a hub for Chinese currency dealing. The memorandum of understanding, to be signed next Monday, sets out settlement and clearing arrangements for the Renminbi, or Yuan, in London.
Monday, October 28th 2013 - 13:50 UTC
China capitalist reforms: break up state monopolies, land reform, Yuan reserve currency

A Chinese top government think tank has unveiled a detailed road map for a series of far-reaching economic policy changes, in one of the strongest indications yet that the Communist Party intends to stay on the path of reform
Sunday, October 13th 2013 - 12:09 UTC
China becomes world’ biggest net importer of oil displacing the US

$US is increasingly able to support itself after the growth of its domestic hydraulic fracturing, or fracking$

China has knocked the US from its top spot as the world's biggest net importer of oil, US government data shows. The country's fast-growing economy, as well as the rise in car sales, has led to its new status, according to September's data. Oil consumption in China had outstripped production by 6.3 million barrels a day, said the Energy Information Administration (EIA). In the US, the figure was 6.1 million.
Thursday, July 11th 2013 - 06:34 UTC
China’s June fall in exports and imports anticipate grim outlook for world trade

China has warned of a grim outlook for trade as the world's second-largest economy surprised financial markets by reporting a fall in exports and imports when both had been expected to rise. The June data showed that exports fell 3.1% from a year earlier and imports dropped 0.7%, according to customs officials.
Wednesday, April 10th 2013 - 07:24 UTC
Fitch ratings downgrades China’s Yuan sovereign credit rating

Fitch Ratings has downgraded China's sovereign credit rating, warning about a credit build-up in the economy that could threaten the recovery. The agency cited “underlying structural weaknesses” and a growing risk from shadow banking. The downgrade is for Yuan-denominated debt, not foreign currency debt.
Thursday, July 5th 2012 - 22:20 UTC
China cuts interest rate a week ahead of next week’s release of second quarter stats

China's central bank cut interest rates for the second time in two months to bolster an economy widely expected to record its sixth successive slide in growth in April-June.
Saturday, June 30th 2012 - 04:37 UTC
China prepares the ground for the Yuan to gradually become a reserve currency

China will make part of the booming Shenzhen economic zone, a test ground for freer Yuan usage and capital account convertibility, the National Development and Reform Commission said on Friday.