Yuan

Remote China region to spend $19 billion on roads in next two decades

BEIJING - The remote poverty-stricken northwestern Chinese region of Ningxia plans to spend 115 billion yuan ($19 billion) over the next 17 years on new and upgraded roads, state media said on Friday, the latest effort to boost investment and support a slowing economy.

Exclusive: China plans greater yuan convertibility inside and outside FTZs

BEIJING - China plans to take a giant step toward making the yuan more convertible by extending a pilot scheme allowing the currency to be traded with few restrictions to all its free trade zones, before taking the scheme nationwide later this year.

China vice president says 2017 vote wish of most Hong Kong people

BEIJING - The planned 2017 election for Hong Kong's top official is what most people in the Chinese territory want, Chinese Vice President Li Yuanchao said on Monday, despite demonstrations by thousands last year against the way it will be conducted.

20 Apr 2015

Shanghai GM to spend $16 billion developing new vehicles

SHANGHAI - Shanghai GM, a joint venture between General Motors and China's SAIC Motor Corp , plans to spend 100 billion yuan ($16 billion) over the next five years developing new vehicles, Shanghai GM President Wang Yongqing said on Sunday.

19 Apr 2015

China wants to follow rules on currency basket: IMF official

WASHINGTON - China does not want to bend the rules in its favor to include the yuan in the IMF's basket of major reserve currencies, the No. 2 official at the International Monetary Fund said.

China, IMF 18 Apr 2015

Britain backs eventual yuan inclusion in IMF's SDR basket

WASHINGTON - Britain favors the eventual inclusion of the Chinese yuan in the International Monetary Fund's SDR basket of currencies, finance minister George Osborne said on Friday, saying it was important to include emerging powers in the world system.

17 Apr 2015

Alibaba steps up China online finance network push with new index, bank

BEIJING/SHANGHAI - Alibaba Group Holding Ltd and its finance affiliate accelerated a drive to be a full-fledged Chinese online financial network, with the launch on Thursday of an e-commerce tracking stock index and plans for a June start of an internet bank.

09 Apr 2015

Shanghai-Hong Kong stock connect sees record turnover

SHANGHAI/HONG KONG - Chinese investors, for the first time, used the entire 10.5 billion yuan ($1.7 billion) daily quota in a cross-border program buying Hong Kong stocks, boosting turnover under the Shanghai-Hong Kong Stock Connect to a record.

08 Apr 2015

Call made in China for national housing bank to prop up property

BEIJING - China should establish a national housing bank to optimize use of the country's housing provident funds, which have over 3.7 trillion yuan ($597.45 billion) at their disposal, according to an article written by an official with Ministry of Housing and Urban, Rural Construction.

06 Apr 2015

China knocking on door of IMF's major league, U.S. wavers

BRUSSELS - China is closer to joining the major league of reserve currencies with a deal possible later this year to include the yuan in the International Monetary Fund's unit of account, international finance officials say.

China, IMF 02 Apr 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