Chinese monetary authorities are asking local banks to revive a yuan fixing tool it abandoned two years ago, a source said on Tuesday.
Monthly Archives For September 2022
China’s Offshore Currency Hits Record Low Against Dollar
The onshore currency has also dropped, hitting its lowest level against the U.S. currency since 2008.
Deflation Looms in China Amid Property Crisis, Survey Shows
China faces increasing risks from deflation as demand crumbles under the weight of an ongoing property crisis and is threatened by continued Covid restrictions — a stark contrast with other major …
China’s offshore yuan falls to record low against U.S. dollar
China’s currency hit its weakest ever offshore trading level against the U.S. dollar, with the yuan falling below 7.2 to the dollar for the first time …
China Construction Bank to Invest CNY6 Bln to Set Up Consumer Finance Unit
By Clarence Leong China Construction Bank Corp. said it plans to invest 6 billion yuan ($835.9 million) to set up a consumer finance unit, as the …
China has great growth potential despite difficulties, says expert
SHANGHAI: China still has huge economic growth potential in the coming years despite short-term disruptions from the Covid-19 pandemic, says Takehiko Nakao, former president of the Asian Development …
Shenzhen aims to become global esports hub by promising cash rewards, subsidies to gamers
Esports games developed in Shenzhen qualify for 2 million yuan in cash rewards, and can receive 5 million yuan if selected by major gaming competitions Shenzhen is home to more than 4,000 video gaming …
Facebook blocks Beijing bid to influence US midterm elections
Facebook has taken down the first known Chinese online campaign aimed at influencing American voters in the midterm elections …
China’s Nio joins the race for lithium, buys 12% of Australia’s Greenwing Resources
China’s electric vehicle upstart Nio has joined Tesla in sourcing raw materials directly from mines rather than its own battery suppliers as soaring prices of lithium, a critical component of EV …
Tycoons Behind China Surveillance Giant Get Richer on EV Listing
China’s Leapmotor is said to raise about $800 million in a Hong Kong IPO, pushing the fortunes of its founders to $2.8 billion and $1 billion.
China’s Central Bank And Monetary Policy’s Role In Its Economy
Among other central banks, China’s has a relatively high degree of freedom. With the Fed raising rates, China’s currency will likely continue losing value against the U.S. dollar.
‘Decentralization Under Centralization’: How Chinese Universities Teach Blockchain
President Xi wants China to be the world’s leader in blockchain technology but has banned its most popular uses. Students and faculty wonder whether universities can successfully teach blockchain with …
Former U.S. Army Reservist Convicted of Spying for China
A former U.S. Army reservist was convicted of acting as a Chinese spy, according to the Department of Justice. In a press release published on Tuesday, the Department of Justice identified the man as …
