Tag Archives: currency

Trade with US to rise as strain eases

China is willing to push forward the development of more balanced economic and trade ties with the United States, the Foreign Ministry said on Thursday in response to US President Donald Trump’s decision to not label China as a currency manipulator.

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Mongolia to get help from China

China extended its support to Mongolia on Monday for overcoming economic difficulties, as Foreign Minister Wang Yi announced a number of measures to help the debt-ridden neighbor.

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Renminbi can stave off currency attack

The billionaire hedge fund manager George Soros declared an “open currency war” this year, saying he was short selling Asian currencies. Soros is unlikely to achieve victory in challenging the Chinese renminbi. Despite China’s economic downturn since last year and its volatile stock market, as well as the renminbi’s depreciation against the U.S. dollar, it […]

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China shifts how it tracks yuan’s value

Economists expect the yuan to continue depreciating slightly against the dollar as the US Federal Reserve appears poised to raise interest rates for the first time since 2006.
Some even predict that the Chinese currency will fall gradually to about 6.5 to the US dollar by the end of this month, and perhaps drop to 6.7 next year.

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FX purchases decline on signs of US QE easing

China reported the first decline of foreign exchange purchases in seven months amid signs the United States will “taper off” its quantitative easing policy. Foreign exchange purchases by financial institutions, a major indictor of capital inflows or outflows, fell 41 billion yuan ($6.6 billion) to 27.39 trillion yuan last month, according to data released by […]

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What lies ahead in 2013

Performance of Western economies has bearing on China’s growth, which in turn could have an impact in African and other developing countries, Andrew Moody reports. The world economy entered 2013 with significant risks that could blow any nascent signs of recovery off course — with most experts agreeing there is little chance the new year […]

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