Yuan

China reveals misuse of $2.7 billion in lottery funds

BEIJING - China has uncovered widespread misappropriation of 16.9 billion yuan ($2.72 billion) of funds from its state lottery program, underscoring the extent of official corruption as the country tries to root out graft.

China says economic losses from drug abuse hit $81 billion a year

BEIJING - China on Wednesday gave its first-ever assessment of the scourge of drug abuse, saying it caused annual economic losses of 500 billion yuan ($80.54 billion) and as many as 49,000 deaths last year.

World, China 24 Jun 2015

China seizes $483 million of smuggled meat, some 40 years old: China Daily

SHANGHAI - Chinese customs have seized around 3 billion yuan ($483 million) worth of smuggled meat, some more than 40 years old and rotting, the official China Daily said on Wednesday, the latest in a grim series of food safety scares.

World, China 24 Jun 2015

Former PetroChina vice chairman to be prosecuted for graft

BEIJING - Former PetroChina Vice Chairman Liao Yongyuan has been expelled from the Communist Party and will be prosecuted for crimes including bribery, the party said on Monday, the latest official caught up in a sweeping corruption crackdown.

World, China 15 Jun 2015

China's May bank loans, money supply quicken as central bank eases policy

BEIJING - China's banks made 900.8 billion yuan ($145.15 billion) worth of new loans in May, in line with market expectations, while broad money supply growth quickened as the central bank loosened policy to support the slowing economy.

11 Jun 2015

China approves $19.3 billion of airport, rail projects

SHANGHAI - China's top economic planner said it had given the green light to over 120 billion yuan ($19.34 billion) worth of airport and railway projects, the latest slew of infrastructure approvals as Beijing looks to avert a sharp slowdown in the economy.

10 Jun 2015

G7 finance chiefs ponder flagging growth amid Greek crisis fears

DRESDEN, Germany - G7 ministers and central bank heads convened on Wednesday to discuss how to revive global growth and China's increasing clout, while keeping a close eye on the protracted talks to avoid a Greek default. | Video

China invites private investors to help build $318 billion of projects

SHANGHAI - China's state planning agency on Monday released a list of more than 1,000 proposed projects totalling 1.97 trillion yuan ($317.75 billion) that it is inviting private investors to help fund, build and operate.

25 May 2015

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.

01 May 2015

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.

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