Germany to add China’s yuan to currency reserves

Germany’s central bank has said it will include China’s yuan in its reserves, giving another boost to Beijing’s drive to internationalise the currency and helping send the unit to two year highs. The Bundesbank said its board had decided in July to invest in the renminbi, as it is also known, to take account of its… Please follow and like us:

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Chinese Leaders Proclaim End To Government Bond Risk Backstop, Look To Detroit For Guidence

Xu Zhong, head of the People’s Bank of China’s research bureau, is in an unusual position. In a nation known for government intervention in free market forces, he recognizes the slippery slope of the moral hazard of the government bailing out risky lending practices. Looking at how local Chinese governments have become over-leveraged, he says the… Please follow and like us:

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Pakistan Examines Chinese Proposal to Replace Dollar with Yuan

Officials in Pakistan say a Chinese proposal to replace the U.S. dollar with yuan for bilateral trade is under consideration. Beijing has already committed to investing around $60 billion in the country by 2030 under a long-term plan of development cooperation with Islamabad, known as the China Pakistan Economic Corridor, or CPEC. Bilateral trade between the… Please follow and like us:

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China’s tough measures rid property market of speculation fever

BEIJING – China’s property market is expected to cool in the fourth quarter as real estate investment growth faltered, monthly property sales value dropped and home prices declined in hot spot cities, economists said. The property market remained stable in October, with new residential housing prices seeing slower growth year-on-year in 13 of the 15 major… Please follow and like us:

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Asset management firms see windfall from B&R Initiative

China’s Belt and Road Initiative will create new opportunities for the asset management industry in the Asia-Pacific region in the next few years, a new industry report said. Asset management practitioners should take advantage of the huge opportunities for infrastructure construction in the countries and regions that are related to the initiative, said Ba Shusong, chief… Please follow and like us:

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China’s money supply sees steady increase

Regulators ‘need to prevent financial risks more proactively and effectively’ China’s money supply growth rate and the newly issued yuan-denominated loans both increased in November to support economic growth, although the monetary authority reiterated that risk prevention should be the policy priority. The M2, or a broad measure of money supply, increased by 9.1 percent year-on-year… Please follow and like us:

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China says its ‘open’ internet accounts for a third of economy

China’s digital economy accounts for nearly a third of gross domestic product, according to a report released at an annual cyberspace conference staged by the government to justify its strict internet censorship. Beijing this year has dramatically strengthened its already tight regulation of the internet, but officials and local media have used the fourth World Internet… Please follow and like us:

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Commentary: Time for China, Japan to Join ‘Developed’ Nations at WTO

By Robert Romano China ($11.2 trillion) and Japan ($4.9 trillion) combined make up 21 percent of the world’s Gross Domestic Product, according to the World Bank, having benefited from preferential treatment in global trade deals, and are still being treated as “developing” nations under world trade rules. At institutions such as the World Trade Organization (WTO),… Please follow and like us:

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Shandong Gold seeks overseas expansion

Shandong Gold Group Co Ltd, one of China’s leading gold producers, is seeking to expand its overseas business as it aims to become one of the top 10 gold miners in the world. The Shandong-based company is targeting assets in countries that have stable social conditions, good gold reserves and open markets, according to a company… Please follow and like us:

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China’s green bond market goes to internationalization: expert

LONDON – China’s green bonds market has taken important steps towards its internationalization, an expert in this new financial sector has said. Important issuances Sean Kidney, chief executive officer (CEO) of the international non-profit Climate Bonds Initiative, told Xinhua on Friday that issuances by three of the largest Chinese banks of green bonds were one of… Please follow and like us:

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Plans set to protect United Kingdom businesses active on Alibaba

By Help is on the way to protect British enterprises, especially the small and medium-sized ones that do business on Taobao, from intellectual property infringement. The China-Britain Business Council said it will work with Chinese e-commerce powerhouse Alibaba Group to find a better solution to protecting those companies from the United Kingdom using the group’s online… Please follow and like us:

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China-US companies’ deals signed during Trump’s visit to China

Business leaders shake hands during a meeting with US President Donald Trump and Chinese President Xi Jinping at the Great Hall of the People in Beijing, Nov 9, 2017. [Photo/VCG] Chinese and US companies signed 34 deals worth $253.5 billion during US President Donald Trump’s state visit to China. These deals involved energy, the chemical industry,… Please follow and like us:

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China’s forex reserves rise for 9th straight month

BEIJING — China’s forex reserves rose for the ninth month in a row in October as pressure of capital outflow continued to ease, data from the central bank showed Tuesday. Forex reserves had amounted to $3.1092 trillion by the end of October, up $703 million from a month earlier, according to the People’s Bank of China,… Please follow and like us:

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China’s cross-border e-commerce expected to hit $1.32t in 2018

Customs officials in Yiwu, Zhejiang province, inspect e-commerce parcels from South Korea. [Photo/China Daily] Chinese cross-border e-commerce transaction reached 6.7 trillion yuan ($1.01 trillion) in 2016, up by 31.6 percent, chinanews.com reported Sunday, citing an index released at a forum held in Shanghai. The Chinese Cross-Border E-commerce Index also predicted that by 2018, value of China’s… Please follow and like us:

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GDP expected to top 80 trillion yuan this year, NDRC chief says

China’s GDP is expected to exceed 80 trillion yuan ($12.08 trillion) this year, with a growth rate possibly higher than the annual target of around 6.5 percent, the chairman of the National Development and Reform Commission said on Saturday. It means the annual growth from last year will reach more than 6 trillion yuan, an increment… Please follow and like us:

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