China's state-owned banks have reportedly interfered to prevent the Chinese yuan from falling quickly.
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China's yuan has ousted the US dollar as the most traded currency in Russia in 2023.
China said that they will use this opportunity to further deepen economic reforms and open up the sector to promote global growth.
The world's second largest economy will lower threshold for foreign investments in 2016. The Commerce Ministry of China has confirmed that the government is in the process of lowering the limit on foreign investment for 2016 year. China recorded 6.4 percent growth in foreign direct investment during 2015.
The world's second largest economy will lower threshold for foreign investments in 2016. The Commerce Ministry of China has confirmed that the government is in the process of lowering the limit on foreign investment for 2016 year. China recorded 6.4 percent growth in foreign direct investment during 2015.
G-20 summit has been concluded with no major surprising outcome. Lack of strong commitments has helped Yen to gain some value against US dollar. However, on Monday, US dollar has regained some value. The appreciation has been analyzed as an outcome of positive US data which in turn is the consequence of Fed rate hiking.
PBOC governor Zhou Xiaochuan is confident to say that China's economy is healthy along with the assurance that yuan will not be devalued again and that the country has enough monetary tools to support the economy.
Hong Kong Disneyland reported its first loss since 2012. Fewer tourists had come to visit the resort and theme park, with the biggest decline from Chinese tourists. China’s economic slowdown, along with political instability and the emergence of Shanghai Disneyland is believed to have affected the Chinese tourists.
One of China’s biggest venture capital firm, Qiming, secured its fifth US dollar venture capital fund in total of $648 million. The fund will help expand the firm’s investments in Chinese top startups in various sectors such as internet, consumer, technology, healthcare, as well as cleantech.
China's foreign exchange reserves had declined reaching to trillions. However, the government made efforts to support the local currency from dropping further.
The timeframe to this plan is still unknown, but the central bank claims that the process has been going on since 2014. China has stated some benefits for having a digital currency in their financial system, including transparency, digital track-recording, as well as reducing transaction costs. Bitcoin, a global digital currency, gained popularity in China in 2013 but has also brought some controversies about the risks.
South Korean currency Won has been volatile as it hit five-year low and recovered marginally. Won was tracking to Chinese currency Yuan as the dragon country is the major foreign market for South Korea. China's GDP rose 6.8 percent during fourth quarter marginally lower than the forecast of 6.9 percent. This disappointed the market.
China is set to report its weakest full-year growth figure in 25 years. The official GDP data will be published by China’s National Bereau of Statistics on Tuesday.
The capital outflows from the world's second-largest economy registered record level in November. The capital outflow grew almost three times in November from October.
The world's second largest economy witnessed its lowest growth rate in the last two decades. China's gross domestic product (GDP) growth rate dipped below seven percent during the third quarter for the first time after the financial crisis. A record of 6.9 percent, below the Chinese government's target of seven percent and slightly better than the forecasted 6.8 percent. This is translating into more pressure on the Chinese government to lower interest rates and some measures to strengthen the growth rate.
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