The yuan sank nearly 1.5% to 7.042, breaching the key level for the first time since the global financial crisis in 2008. The closely-managed currency’s move lower sets the stage potentially for … ( read…
Tagged By finance
China’s yuan goes through 7 to the dollar to an 11-year low
LONDON — China let its yuan weaken below 7 yuan per … floor to its lowest in the onshore market since the 2008 global financial crisis. In offshore markets, the yuan fell to its weakest…
China’s yuan falls below sensitive level of 7 to U.S. dollar
Trump rattled financial markets Thursday by announcing plans for 10% tariffs on an additional $300 billion of Chinese goods, effective Sept. 1. That would extend penalty duties to almost all U.S. … ( read original…
Chinese currency falls to financial crisis levels on trade war woes
China’s currency the renminbi has fallen to its lowest level against the dollar since the financial crisis, crashing through the seven-per-dollar threshold after an escalation in the US-China trade … ( read original story …)
China c.bank says will deepen regional financial reforms
BEIJING — China will deepen its regional financial … a vice governor of the People’s Bank of China, said on Monday. Chinese policymakers have pledged to maintain support for the slowing … ( read original…
Beijing Risks Economic Self-Harm by Weaponizing the Yuan
Rarely has such a small move in markets been so closely watched—or had so much at stake. The People’s Bank of China, which has defended seven to the dollar previously, undoubtedly allowed the currency ……
China central bank says will deepen regional financial reforms
BEIJING (Reuters) – China will deepen its regional financial reforms, using various policy tools to lower corporate funding costs, especially for small firms, Chen Yulu, a vice governor of the … ( read original story…
China Hits Back at Trump With Weaker Yuan, Halt on Crop Imports
After trying to placate Donald Trump for more than a year only to face tariffs on virtually all its shipments to the U.S., China is signaling it’s ready to play hardball. In a stark escalation…
China Says Yuan Breaks 7 on Tariff Threats, Vows Stability
“Today’s move suggests that China sees there is a need to allow more currency flexibility to counter the headwinds from the trade front.” The yuan has “fundamental support” from a healthy economy, … ( read…
China Warming to Idea of Yuan as Trade War Weapon, Analysts Say
(Bloomberg) — Analysts say the yuan’s sudden slump is a sign China’s central bank will allow more depreciation after the U.S. vowed to hit the country’s products with new tariffs. The move by the ……
World’s Biggest Banks Trade at Record Lows as China Pain Spreads
China’s “big four” state-owned lenders, which together control more than $14 trillion of assets, have tumbled to record-low valuations amid mounting concern that Beijing will encourage them to bail … ( read original story …)
Second Chinese Bank Collapses in Just Three Months
People’s Bank of China Saves Baoshang Bank, ICBC Rescues Bank of Jinzhou Earlier this year, the state – through the People’s Bank of China – took control of regional lender Baoshang Bank, the first ……
Refinitiv removes Reuters story on Hong Kong protests from screens in China
Under pressure from Chinese regulators, financial-information provider Refinitiv has removed from its Eikon terminals in China a Reuters story detailing how an official with Beijing’s Liaison Office … ( read original story …)
