China’s financial market opens wider for foreign investment
China’s foreign exchange regulator has approved a bigger amount of foreign investment in the country’s onshore financial market, official data showed on Monday.
Yuan
Could The Falling Yuan Be A Good Thing?
Last week, the People’s Bank Of China allowed the yuan to fall sharply, causing chaos in share markets and drawing criticism from multinationals who said the move would hurt their businesses.
China’s New Yuan Loans Hit 6.56 Trillion Yuan In H1
China’s new yuan-denominated loans reached 6.56 trillion yuan (1.07 trillion U.S. dollars) in the first half of this year, the central bank said Tuesday.
The US Dollar Rules – OK!
Difficult to believe that until recently the US dollar (UUP, quote) was being written off by all and sundry, with some even suggesting that its days as the currency of first reserve were numbered. Many were calling for the Yuan to replace it, and even the euro in its current iteration. Others suggested a basket of currencies. How times have changed.
Yuan fall ‘dictated by market’
Recent falls in the yuan exchange rate against the US dollar are based entirely on market forces, a senior official said on Tuesday after Premier Li Keqiang met with visiting US Treasury Secretary Jacob Lew.