‘By investing in Pakistan, China is enabling the Pakistani economy to stand on its feet and get out of the debt trap of western organisations’ ISLAMABAD: Pakistan’s total foreign debt is about $106 billion while Chinese loan accounts for a mere 10 to 11pc of the total amount, said Economic Affairs Division Secretary Noor Ahmed on […]

BEIJING: China warned the United States on Wednesday not to “politicise” the exchange rate of its currency amid a festering trade war between the two economic giants. The US Treasury declined to label China a currency manipulator in its latest semi-annual report but also called on Beijing to prevent the yuan from weakening. “We have always […]

China’s banking and insurance regulator on Saturday said it did not expect a persistent decline in the yuan and warned speculative short sellers they would suffer “heavy losses” if they bet against the currency. The yuan has lost more than 2.5% against the dollar since the festering China-U.S. trade dispute intensified earlier this month. It […]

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 […]