China’s stock market has been overtaken as the world’s second-biggest by Japan’s, having been swiped this year by the threat of a trade war with the United States and slowing economic growth. Data from Bloomberg News in intra-day trade on Friday showed the value of equities on the mainland had slipped behind those in their neighbouring country […]

MADRID: A Spanish judge is accusing the European branch of China’s state-owned Industrial and Commercial Bank of China (ICBC) of aiding criminal organisations to launder more than 214 million euros ($256m). National Court judge Ismael Moreno said that the Luxembourg-based ICBC Europe should also be held responsible for the money allegedly laundered by its Spanish […]

BEIJING: Habib Bank, one of the largest private banks in Pakistan which opened its branch in Urumqi, is eyeing opportunities connected with the China-Pakistan Economic Corridor (CPEC), a key component of the Belt and Road Initiative. Xinjiang is the starting point of the CPEC, which links the region with the Gwadar port in Pakistan. The […]

SHANGHAI: China’s renminbi slipped a notch to become the sixth most-used global currency over the course of last year, hit by depreciation and government capital controls, a report said Thursday. Analysts said the drop was a setback for Beijing’s ambitious plans to dramatically increase the use of its currency abroad and make it a mainstay […]

TOKYO –  Sin Tokyo and Shanghai lost ground Monday in quiet trading with most of the region’s other key markets closed for public holidays. Both Japan and China declined as investors cashed in on a recent global rally fuelled largely by expectations for the incoming administration of US President-elect Donald Trump. Incentives were few and […]

SHANGHAI: China has indicated it could relax restrictions on foreign investment in some sectors as it struggles to counter an overseas exodus of capital, while facing accusations of protectionism from US President-elect Donald Trump. A record-setting wave of Chinese investment abroad has fuelled concern in Beijing over capital flight, reckless spending overseas, and the yuan’s fall […]

The Chinese government is making strategic moves to construct an Asia-based economic bloc based on the Chinese yuan, also known as the renminbi, with the ambition of turning it into a currency capable of replacing the dollar in the world economy. But China’s currency strategy under the one-party rule of the Communist Party may have […]

SHANGHAI: China on Tuesday weakened the yuan’s fix against the dollar to a nearly eight-year low as the surging dollar put further pressure on the unit, complicating Beijing’s efforts to manage it. The central People’s Bank of China set the value of the yuan — also known as the renminbi — at 6.8495 to the […]

China and the United States on Sunday committed anew to refrain from competitive currency devaluations, and China said it would continue an orderly transition to a market-oriented exchange rate for the yuan CNY=CFXS. A joint “fact sheet”, issued a day after US President Barack Obama and his Chinese counterpart Xi Jinping held talks, also said […]

LONDON: The Chinese yuan has overtaken the Mexican peso as the most actively traded emerging market currency, reflecting China’s growing influence on the global economy, a survey of the foreign exchange industry showed on Thursday. The yuan or renminbi was the world’s eighth most actively traded currency overall, moving up from the ninth position in […]