China's commerce ministry defends devaluation, sees 'limited' impact


BEIJING - China on Saturday defended the recent revamp of its foreign exchange regime that led to a sharp devaluation of the yuan, calling it a "normal adjustment".

Carmakers scramble to adapt to slowing Chinese demand

NEW YORK - China's demand for luxury cars used to move in one direction - up. Now, the prospect of a sustained slump in Chinese demand, prompted by sharp declines in Chinese equity markets and a devaluation of the yuan, has global auto manufacturers scrambling to find new markets to sell goods.

28 Aug 2015

VW Finance sees boost from China reserves policy move

BEIJING - When China's central bank singled out auto financing companies for extra help on Tuesday, it effectively freed up more than 200 million yuan ($30 million) for Volkswagen AG's China finance unit, which it can use to boost falling car sales, a top official said on Friday.

28 Aug 2015

U.S. retailers prod China for lower prices after devaluation

CHICAGO - U.S. retailers including Toys R Us are starting to negotiate with their Chinese suppliers to take advantage of lower manufacturing costs after China devalued the yuan, with many saying they want to be ready if currencies in China and other Asian countries drop more against the dollar.

28 Aug 2015

China official blames Fed for global market rout, not yuan

BEIJING - The global stock market rout of the past week was sparked by concerns over a possible interest rate rise by the U.S. Federal Reserve and not by the devaluation of China's yuan currency, a senior Chinese central bank official told Reuters on Thursday.

27 Aug 2015

Surprised by global impact of yuan move, China looks to calm markets

BEIJING - China has been so surprised by the global reaction to its currency devaluation that it is likely to keep the yuan on a tight leash in the near-term to head off a currency war that could spark a broader financial crisis, policy insiders say.

27 Aug 2015

Japan cautions China against frequent yuan manipulation

TOKYO - Japanese Finance Minister Taro Aso on Friday warned China against frequent manipulation of yuan rates, saying that Tokyo would face a tough decision on how to respond to any such interventions from Beijing.

China, Japan 20 Aug 2015

IMF freezes benchmark currency basket, defers any yuan addition

WASHINGTON - The International Monetary Fund said on Wednesday it will freeze its benchmark currency basket until October 2016, giving markets more time to adjust to the possible addition of China's yuan as part of a review of global reserve currencies.

IMF, China 19 Aug 2015

China's devaluation may be bad news for FX industry

LONDON - China's currency devaluation should give a shot in the arm to global foreign exchange volumes as traders take advantage of and protect themselves against the surprise surge in volatility, but its longer-term impact on market activity may not be so benign.

19 Aug 2015

Investors to look at Fed, earnings with China filter

NEW YORK - Investors will comb through Wednesday's minutes of the most recent Federal Reserve meeting for indications on how the U.S. central bank will react to the recent yuan devaluation and the further decline in oil prices.

16 Aug 2015

The yuan charge

Participants wait to perform a dragon dance during a mass fitness programme outside the National Stadium, also known as the Bird's Nest, in Beijing June 20, 2009.

The Obama administration is taking China head on over the yuan. As Congress comes closer to punishing Beijing for not letting the currency strengthen more rapidly, Reuters explains the factors behind the yuan's sudden gains.   Document