In 2009 when China allowed the yuan to be used in limited cross-border trading, it would have been hard to imagine the Chinese currency overtaking the pound as one of the world's top three traded currencies. But this month, a survey released by HSBC, the largest bank in Europe, ...
China's yuan settlement in cross-border trade topped 530 billion yuan (81.54 billion U.S. dollars) in the first four months of 2011, said an official with the central bank on Thursday. This was about 5 percent of China's total foreign trade in the same period, said Li Bo, head of ...
China is drafting rules to allow overseas companies to invest in yuan on the Chinese mainland as part of efforts to boost the currency's global footing, a central bank official said yesterday in Shanghai. A small number of companies are participating in a limited trial to allow ...
Vietnam's Hanoi Stock Exchange (HNX) and China's Shenzhen Stock Exchange (SZSE) signed a memorandum of understanding (MOU) Wednesday to boost cooperation between the two countries' financial services and stock exchanges. According to the Vietnam Economic Times on Thursday, both ...
China's central bank, the People's Bank of China (PBOC), pumped 67 billion yuan (10.3 billion U.S. dollars) of liquidity into banks this week after hiking its reserve requirement ratio and a decline of outstanding funds. With its sales of three-month bills worth 20 billion yuan ...
Fewer Chinese cities reported evidence of a slowdown in new home prices in April compared to a month earlier, new figures Wednesday revealed. This indicates government rein-in measures introduced in January to curb speculative demand are yet to have a significant effect. New home ...
China trimmed its holdings of US Treasury bonds for a fifth month in a row in March, lowering the amount of those assets to $1.145 trillion, according to data released by the US Treasury Department on Monday. The biggest buyer of US Treasury debt cut the amount of its holdings by ...
Chinese shares climbed in the morning session on Wednesday with the benchmark Shanghai Composite Index up 0.72 percent, or 20.67 points, to 2,873.45 at midday. The Shenzhen Component Index rose 122.02 points, or 1.01 percent, to 12,250.52.
The conditions for China to create its own international board are nearly mature, the China Securities Journal cited a securities official as saying on Wednesday. The international board will be priced in yuan, according to Wang Jianjun, an official with the China Securities ...
Chinese shares rose Wednesday with the benchmark Shanghai Composite Index up 0.70 percent, or 20.00 points, to 2,872.77. The Shenzhen Component Index gained 0.84 percent, or 102.19 points, to 12,230.69.
The U.S. dollar rose against major currencies in late New York trading on Wednesday as the minutes of Federal Reserve's April meeting hinted to tighten monetary policy and some eurozone officials commented on Greece debt restructuring. The minutes of Fed's April meeting showed on ...
U.S. stocks gained strength on Wednesday as traders were encouraged by Dell's strong earnings and a recovery in commodity prices. Market sentiment was bolstered after Dell reported stronger- than-expected earnings late Tuesday. With its profit nearly tripled in the latest quarter...
Conditions are ripe for Shanghai to launch its long-awaited international board and shares traded on it will be denominated in the yuan, a senior official of China's top securities regulator said Tuesday. "We hope to find a perfect timing to launch the board to give it an easy ...
U.S. crude oil price bounced above 100 dollars on Wednesday as U.S. crude inventories remained almost unchanged last week. The Energy Information Administration said on Wednesday the crude inventories fell 15,000 barrels in the week ending May 13 as oil import fell and demand of ...
Gold futures on the COMEX Division of the New York Mercantile Exchange bounced off weak sentiment on Wednesday, as inflationary concerns intensified amid rally in energy and grain prices, boosting the appeal of gold as a hedge against inflation. The most active gold contract for ...
Shanghai ranked as the most commercially competitive city on the Chinese mainland for the third year in 2010, according to a report by the Ministry of Commerce and Renmin University of China. Shanghai was followed by Beijing and Guangzhou, said the Annual Report on Urban ...
U.S. crude oil price fell on Tuesday as weak economic data fueled demand fears. The U.S. Commerce Department reported that housing starts for April fell 10.6 percent from March, missing economists' estimate of a moderate rise. This indicated the housing market is still struggling ...
U.S. stocks closed mixed on Tuesday as disappointing data worried investors and some tech companies' bad performance dragged the markets. The latest economic data made investors concerned about the economic prospect. Housing data showed that builders started construction on fewer ...
The U.S. dollar fell against major currencies in late New York trading on Tuesday as U.S. construction of new homes fell in April and Britain's consumer prices rose in April. The U.S. Commerce Department reported Tuesday that housing starts dropped 10.6 percent to an annual rate ...
Prices for Chinese farm produce went up slightly, while prices for production materials declined, the Ministry of Commerce (MOC) said on Tuesday. Also, the retail price of grains gained with 0.4 percent in rice and 0.2 percent in flour during the week May 9-15 compared to the ...