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.
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.
China’s fiscal revenue climbed 9.2 percent year on year in April to reach 1.25 trillion yuan (202.92 billion U.S. dollars), the Ministry of Finance said on Monday.
Gold (GLD, quote) demand in China dropped off in the first quarter of 2014. Economist are citing the weakness in gift giving of gold bars.
China’s e-commerce giant Alibaba has filed initial public offering (IPO) document to the U.S. Securities and Exchange Commission (SEC) with plans to raise one billion U.S. dollars, according to SEC information and well-informed sources.
Mobile Internet applications have made people’s lives much more convenient, but Internet companies need to build a platform to help people get access to those apps more easily, Ren Yuxin, the Chief Operating Officer from Tencent, China’s Internet giant said Monday.
China (FXI, quote) has proposed studying the feasibility of a mega free-trade agreement in the Asia-Pacific region as the many flourishing FTAs in the area could burden businesses with different standards, a senior official said on Wednesday.
The world’s largest retailer, Walmart Stores (WMT, quote), on Wednesday closed an outlet in east China’s Hangzhou city, in its seventh closure in the Chinese mainland since March.
China’s (FXI, quote) manufacturing activity continued to contract in April, but at a slower pace, according to HSBC’s preliminary purchasing managers’ index (PMI) released on Wednesday.
Clothes retailer Aber-crombie & Fitch Co (ANF, quote) plans to open more than 100 stores in China under its A&F and Hollister brands over the coming decade, ploughing a new furrow in what it calls “casual luxury.”
Brent crude oil (BNO, quote) slid lower on Tuesday after PMI data added to worries about a waning global demand outlook. The commodity traded at 106.63 at 5:20 GMT as the confrontation between the West and Russia helped keep a floor under prices.