BEIJING China said on Friday it had no intention of using currency devaluation to its advantage in trade, responding to U.S. President Donald Trump's description of the Asian giant as the "grand champions" of currency manipulation.
WASHINGTON President Donald Trump declared China the "grand champions" of currency manipulation on Thursday, just hours after his new Treasury secretary pledged a more methodical approach to analyzing Beijing's foreign exchange practices.
BEIJING Authorities in a violence prone area of China's western Xinjiang region are offering 100 million yuan ($14.5 million) in rewards for anti-terror tips, state media said, a policy that coincides with a dramatic rise in regional security spending.
WASHINGTON Apple Inc filed a lawsuit against Qualcomm Inc in Beijing, alleging the chip supplier abused its clout in the chip industry and seeking 1 billion yuan ($145.32 million) in damages, Beijing's Intellectual Property Court said in a statement on Wednesday.
Chinese online retail giant Alibaba Group Holding beat analyst estimates with a 54 percent rise in third-quarter revenue, benefiting from its sharpened focus on cloud and digital media ventures as well as gains in its core business. | Video
SHANGHAI China's forex regulator is telling banks to keep its instructions about curbing capital outflows secret and to ensure that research analysts keep any negative views about the yuan's prospects to themselves, several bankers said.
HELSINKI HMD Global, the Finnish company that owns the rights to use Nokia's brand on mobile phones, announced on Sunday its first smartphone, targeted for Chinese users with a price of 1,699 yuan ($246).
NEW YORK The dollar rose on Friday, boosted by a solid U.S. jobs report, after tumbling the day before on mixed U.S. economic data and apparent action by Chinese authorities to shore up the yuan.
SHANGHAI China's offshore yuan pared some of its sharp gains racked up this week, but is still on course for its biggest weekly rise after Beijing was suspected of pushing up overnight borrowing costs to discourage bearish bets on the currency.
NEW YORK The dollar fell to a three-week low against a basket of major currencies on Thursday after U.S. inflation and unemployment data failed to reverse a downtrend that followed some of the biggest gains on record for China's yuan.
The yuan charge
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