Increased yuan bill sales by China’s central bank in Hong Kong this week helped tighten liquidity in the offshore market to help stabilise the yuan by making it expensive for speculators to short the currency,
Monthly Archives For August 2023
Expansion will bring new vitality to BRICS – China’s Xi
The expansion of BRICS will inject new vitality into the group’s cooperation mechanism, Chinese President Xi Jinping said on Thursday before also announcing an upcoming launch of a $10-billion special fund aimed at bolstering global…
China’s economy is in desperate need of rescue
China’s economy is a “ticking time-bomb”, according to America’s President Joe Biden, because of its ageing workers and unemployed young. Others think it is suffering from “long covid” because of the …
North Korean plane takes off from Beijing, signaling Pyongyang’s border reopening post-pandemic
A commercial flight from North Korea landed and took off in Beijing Tuesday following severe COVID-19 restrictions that closed its borders for three years.
Six countries to join BRICS group; China labels expansion ‘historic’
Argentina, Egypt, Ethiopia, Iran, Saudi Arabia and the United Arab Emirates — will join the the group in January as Russia and China try to counter the west.
84,000 5G base stations built up in China’s Shanxi
TAIYUAN — A total of 84,000 5G base stations have been built up in Shanxi, a major coal-producing province in North China, according to a digital economy development summit held in the provincial …
China bans seafood from Japan after Fukushima nuclear plant releases nuclear wastewater into Pacific
Shortly after China’s announcement, TEPCO President Tomoaki Kobayakawa said his company would compensate Japanese business owners for damages suffered by seafood bans over the wastewater release. Some …
Young people drive Shenzhen’s night economy
The night economy in Shenzhen has shown a significant upward trend in recent months, leading the country in consumption by young people. According to domestic food-delivery giant Meituan, nighttime …
China’s Xi: BRICS Expansion Injects New Vitality to Group’s Cooperation
The BRICS group of nations reached a broad consensus to invite six countries – Argentina, Egypt, Iran, Ethiopia, Saudi Arabia and the United Arab Emirates – to join, in a move aimed at growing the…
Analysis: Stimulus or bust: Investors staying out of China until the spending starts
Global investors fleeing China have one simple message for the country’s leadership: put prudence aside for a short while, and start spending big.
How China Made Its Housing Crisis Worse
Years of inattention to building an adequate safety net for seniors, the jobless and others in financial stress have left Chinese consumers afraid to spend.
China will be ‘excluded from key talks’ at AI safety summit
China is set to be invited to an AI safety summit in Britain this autumn but will be excluded from key elements, The Times has learnt.The meeting, which will take place in early November at…
China’s stock market reels from record stretch of capital exodus
International investors pulled almost $11 billion from Chinese stocks over the 13 days through Wednesday. That’s the longest stretch of outflows in data going back to 2016, according to Bloomberg.
