China's main Shanghai stock index finish higher Wednesday, but other stock markets were mostly lower as investors are anxious about the volatile Chinese market.
Most of the world stock markets were higher last Monday due to the steady Yuan and the expected bailout of Greece.
Though China's growth rate is slowing down, the world's second-largest economy can bounce back to regain the momentum and manage the risks involved, observes International Monetary Fund (IMF).
The International Monetary Fund should put off any move to add the yuan to its Special Drawing Rights currency basket until September 2016, an IMF staff report said, a move that would effectively end the Chinese currency's chances of an early inclusion.
Asian shares rose for a third consecutive day on Friday even as China stocks tumbled into correction territory, while the Federal Reserve's cautious stance towards lifting interest rates kept the dollar on the back foot.
China's exports unexpectedly fell 6.4 percent in April from a year earlier, while imports tumbled by a deeper-than-forecast 16.2 percent, fueling expectations that Beijing will quickly roll out more stimulus to avert a sharper economic slowdown.
China's export sales contracted 15 percent in March, a shock outcome that deepens concern about sputtering Chinese economic growth.
The current level of China's yuan CNY=CFXS is appropriate because it reflects foreign exchange supply and demand and economic fundamentals, a top central bank researcher said on Saturday, playing down talk of suspected official intervention.
China's long-awaited international payment system to process cross-border yuan transactions is ready, and may be launched as early as September or October, three sources with direct knowledge of the matter told Reuters.
China's trade minister proposed more use of China's currency in settling trade with Russia in the face of a falling rouble to ensure safe and reliable trade, Hong Kong broadcaster Phoenix TV reported on Saturday.
Chinese financial firms are targeting purchases of distressed banking assets coming on the market in Europe, having been urged by Beijing to expand their reach beyond emerging markets.
China's Industrial and Commercial Bank (ICBC) signed a pact with the Los Angeles city government to promote cross-border yuan trade and set up an offshore renminbi center in California, the bank said on Saturday.
Wal-Mart Stores Inc (WMT.N) is focusing on food safety as the world's largest retailer aims to boost profitability of its more than 400 stores in China, Wal-Mart Asia chief executive Scott Price told Reuters.
Singapore's Oversea-Chinese Banking Corp. Ltd. recently launched a $100 million private equity fund to invest in onshore Chinese companies over the next five years. The said fund will managed by OCBC Capital Equity Investment Management Co. based in Shanghai.
China establishes free trade zone to help liberalize yuan trade.
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