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RMB's bumpy road ahead: Appreciation expectations of speculators are posing challenges to internationalization of renminbi Recently, HSBC bank released an upbeat survey predicting that China's currency, the renminbi (RMB), will become one of three global settlement currencies, alongside the dollar and ...

Turkey plans to open a bank in China: Turkey said on Thursday that it plan to open a bank in China while it giving a license to Bank of China to open an office in Turkey. Turkish State Minister and Deputy Prime Minister Ali Babacan announced the decision at the opening of the First Turkish-Chinese Business Forum in ...

China's yuan weakens to 6.4886 per USD Thursday: The Chinese currency Renminbi, or the yuan,weakened 49 basis points to hit 6.4886 per U.S. dollar on Thursday, according to the China Foreign Exchange Trading system. The yuan's central parity rate reached an all-time high of 6.4837 per U.S. dollar on Wednesday. On China's ...

China's yuan hits new high of 6.4837 per USD: The Chinese currency Renminbi, or the yuan,strengthened 8 basis points to an all-time high at 6.4837 per U.S. dollar on Wednesday, according to the China Foreign Exchange Trading system. The yuan's fresh central parity rate scrapped the previous record of 6.4845 per U.S. dollar ...

Going through the roof: Wang Yang, a 46-year-old college teacher, clearly remembers the time he lived in a small apartment in the university. Similar to the college dormitories of today, there was usually only one shared kitchen and a toilet on the same floor. "I lived in a room with a floor space of ...

CICC's yuan fund targets PE sector: China International Capital Corp, the country's leading investment bank, has approval from the authorities to raise 5 billion yuan (US$772 million) for its latest yuan-denominated fund to tap the nation's lucrative private equity sector. The first fund to raise money from limited ...

HK to implement chip-based technology for all ATMs: The Hong Kong Monetary Authority (HKMA) announced Wednesday that all authorized institutions (AIs) in Hong Kong will implement the chip-based technology for all Automatic Teller Machine (ATM) services in Hong Kong. According to the HKMA, compared to the magnetic stripe currently ...

Everbright seeks to list in HK in July: China Everbright Bank Co is seeking to list in Hong Kong in July, the lender said in a statement Tuesday. The bank, which listed in Shanghai in 2010, will have a listing hearing on June 9 in Hong Kong. In March, shareholders of the bank approved its plan to sell up to 10.5 ...

Overseas insurers seek evolving needs: Overseas insurers are keen to tap opportunities in China's growing insurance sector although their penetration rate in the world's second largest economy is currently low, market watchers said. These insurers, defined as companies that hold more than 50 percent stake in joint ...

Manufacturing slows amid credit squeeze: The purchasing managers' index (PMI), a key gauge of manufacturing activity, hit a nine-month low in May, sparking fears that ongoing monetary tightening measures may slow economic growth. But analysts said the economy would still manage a soft landing as the country tries to ...

Australia backs cross-border RMB settlements: SHANGHAI - Australia is keen to play a bigger part in accelerating the internationalization of the yuan, according to a new report. By encouraging the establishment of a reciprocal currency arrangement to support trade settlements in yuan, the Australian financial sector is ...

Yuan hit new high of 6.4856 per USD Tuesday: BEIJING -- The Chinese currency Renminbi, or the yuan,strengthened 11 basis points to an all-time high at 6.4845 per US dollar on Tuesday, according to the China Foreign Exchange Trading system. The yuan's fresh central parity rate scrapped the previous record of 6.4856 per US ...

China's yuan hits record high against USD: China's central bank set the yuan's mid-point at a historic high of 6.4856 against the U.S. dollar on Monday, up 42 basis points from the previous trading day. The yuan's previous record high was 6.4898 per U.S. dollar, which was set last Friday. The United States Treasury ...

Yuan up to new high at 6.4856 per USD Monday: BEIJING -- The Chinese currency Renminbi, or the yuan,strengthened 42 basis points to an all-time high at 6.4856 per US dollar on Monday, according to the China Foreign Exchange Trading system. The yuan's fresh central parity rate scrapped the previous record of 6.4898 per US ...

Some ATM fees at CMB to double next month: It will now cost twice as much for China Merchants Bank (CMB) customers to grab money when they're on the go and can't find a CMB branch. The bank confirmed it will raise the interbank cash-handling fee through money machines to 4 yuan from 2 yuan per use starting June 1 in Jinan...

Over-reliance on US dollar: To get the imbalanced world economy onto a balanced track international monetary system needs reform There are two sharply contrasting arguments to explain the global imbalances between the United States as the biggest trade deficit country and China as the biggest trade surplus ...

China's yuan hits new high at 6.4856 per USD Tuesday: The Chinese currency Renminbi, or the yuan,strengthened 11 basis points to an all-time high at 6.4845 per U.S. dollar on Tuesday, according to the China Foreign Exchange Trading system. The yuan's fresh central parity rate scrapped the previous record of 6.4856 per U.S. dollar ...

ABC set to issue bonds to boost CAR: Agricultural Bank of China Ltd (ABC), the country's third-biggest lender by assets, will sell 40 billion yuan ($6.17 billion) of subordinated bonds from June 2 to 7, according to a statement released on Monday on the website of China Central Depository & Clearing Co, Ltd. To ...

GDP 'trill' shares a new way to spread risk: The basic principle of financial risk management is sharing. The more broadly diversified our financial portfolios, the more people there are who share in the inevitable risks - and the less an individual is affected by any given risk. The theoretical ideal occurs when financial ...

Rates may rise next week on high CPI: China may possibly raise interest rates again during the coming Dragon Boat Festival holiday because consumer prices are expected to rise to a new high in May, economists said. The three-day Dragon Boat Festival holiday, which ends next Monday, may be the time when the People's ...

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China's reform leading group holds first meeting: BEIJING, Jan. 22 (Xinhua) -- China's leading group for overall reform ...

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Super car club in commercial drive: On the night of Nov 11, more than 150 super cars were driven into the ...

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Stars 'Big Three' fall short of title in 1st year: Miami Heat's LeBron James (R) stands with teammates Chris Bosh (C) and ...

Injured star short-track skater Wang Meng left out of China's squad for Sochi: Injured Olympic champion Wang Meng has been ruled out of the 139...

Fourteen countries expected to compete in Cuba's wrestling tourney: Some 14 countries and regions are expected to compete in the 45th ...

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