|S. Rina |||Jan 16, 2017 08:09 PM EST|
China has instituted various measure to contain the fall in the value of its currency. However, market experts believe that the slide is likely to continue despite these actions. The slowdown in economy is likely to further exacerbate the depreciation in value.
|S. Rina |||Jan 14, 2017 01:57 AM EST|
China reported extending $1.82 trillion worth of loans in 2016, setting a new record. However, the numbers have also given rise to new debt concerns. The country is looking to fuel its economy by providing more stimulus in the form of credit and debt, without creating an asset bubble.
|S. Rina |||Jan 14, 2017 12:11 AM EST|
Asset management firm PIMCO stated that there is possibility that China may freely float Yuan this year. The firm stated that alternatively, the country may decide to widen the trading band for the currency. Yuan had a tumultuous time in 2016 as it saw steady decline in its value.
|S. Rina |||Jan 11, 2017 06:45 AM EST|
China is planning to contain the fall of its currency value as the country struggles to maintain its reserves. The currency showed the signs of weakness this week as well as The People's Bank of China set the mark on Monday at 0.87 percent lower than last Friday.
|S. Rina |||Jan 09, 2017 09:25 AM EST|
Bitcoin showed a deep plunge in its value as Chinese central bank raised concerns about the use of cryptocurrency. The drop in the value succeeded the meteoric increase in the value of the currency in the past two weeks.
|S. Rina |||Jan 04, 2017 08:44 AM EST|
China recently made several changes to its currency basket, which is used for setting the daily value of the currency. According to China Foreign Exchange Trade System (CFETS), the number of currencies included in the basket was increased to 24, up from the previous 13 currencies.
|Mia Ren |||Nov 23, 2016 10:27 PM EST|
A committee in the village of Baoji, Shaanxi province that oversees the approval of infrastructures are receiving numerous complaints to its new office building worth 1 million yuan while still having outstanding debts from the construction of its previous office building six years ago.
|S. Rina |||Nov 10, 2016 12:53 PM EST|
Donald Trump's victory led to the Chinese yuan plunging to a six-year low. The fall is due to concerns about Trump's protectionist trade policies. The Chinese yuan seems to be heading for its third annual loss. The currency is down 4.4 percent this year.
|S. Rina |||Nov 08, 2016 10:41 PM EST|
China adjusted its yuan exchange rate upward against dollar this Monday. However, the weaker currency has been accompanied by unexpected fall in exports. The country's exports have fallen 7.3 percent in the past year. Its imports are also low on the year over year basis.
|S. Rina |||Oct 21, 2016 10:16 PM EDT|
China's war against underground banking and capital flow yielded solid results as the country uncovered $148 billion worth of illegal trades. The investigations are carried out by the State Administration of Foreign Exchange (SAFE) and are focused on capital outflows and foreign exchange transactions. The drive has already cracked 56 cases of illegal foreign exchange transactions this year so far.
|Staff Reporter |||Oct 07, 2016 05:48 PM EDT|
China's foreign exchange reserve shrank for the third consecutive month in September. The rate of decrease also exceeded market expectations.
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