(Reuters) -China's rapid development of a digital version of the yuan will not push the Federal Reserve to rush its own digital currency project, Federal Reserve Chair Jerome Powell said on Wednesday, adding that China's approach would not work in the United States.
BEIJING (Reuters) -Jidu Auto, an electric vehicle venture between China's tech giant Baidu and Chinese automaker Geely, aims to plough 50 billion yuan ($7.7 billion) into producing smart cars over the next five years, its chief executive told Reuters.
HONG KONG Chinese conglomerate Dalian Wanda Group aims to raise 20 billion yuan ($3.08 billion) for its commercial property management business, before listing the unit in Hong Kong by year-end, two people with direct knowledge of the matter told Reuters.
SHANGHAI/HONG KONG (Reuters) -China slapped a record 18 billion yuan ($2.75 billion) fine on Alibaba Group Holding Ltd on Saturday, after an anti-monopoly probe found the e-commerce giant had abused its dominant market position for several years. | Video
BEIJING Once seemingly untouchable, Alibaba founder Jack Ma has endured a tumultuous run that saw his Chinese e-commerce giant hit with a record 18 billion yuan ($2.75 billion) antitrust fine on Saturday, resolving one key uncertainty even as others persist for himself and his business empire.
VALLETTA/SHANGHAI, March 29 By Stephen Grey, Engen Tham, Jacob Borg and Christoph Giesen
ByteDance said on Monday its video games unit Nuverse has agreed to acquire Shanghai-based gaming studio Moonton Technology, as it seeks to further expand into the video games business.
(This March 12 story corrects paragraph four to say JD.com is China's biggest e-commerce company by revenue, not 2nd-biggest)
COLOMBO China has approved a 10 billion yuan ($1.54 billion) currency swap with Sri Lanka, a government spokesman in Colombo said on Wednesday, giving some respite from concerns about public finances.
SHANGHAI China's Lenovo Group, the world's biggest maker of personal computers, posted record profit and revenue in the third quarter on Wednesday, helped by robust demand from people working from home as COVID-19 restrictions persisted. | Video
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