BMW starts production at new $2.2 billion China plant to ramp up EV output


SHANGHAI Germany's BMW said on Thursday that production has formally begun at a new plant in China with an investment of 15 billion yuan ($2.24 billion) as the carmaker accelerates electric vehicle (EV) production.

China steps up fixed-asset investment to steady COVID-hit economy

BEIJING (Reuters) -China's state planner said on Thursday it had approved 10 fixed-asset investments worth 121 billion yuan ($18.1 billion) in May, a more than six-fold jump from April, as policymakers seek to get economic growth back on track after a COVID-induced slump.

Jun 16 2022

China's banks scramble to raise capital and answer calls to support economy

SHANGHAI China Construction Bank Corp (CCB) started selling 60 billion yuan ($8.9 billion) in bonds on Wednesday, joining peers as they rush to replenish capital in response to tighter regulations and government calls to support a virus-hit economy.

Jun 15 2022

Euro most resilient to climate change, yuan most exposed - Barclays

LONDON Climate change could play out to the advantage of the euro, while China's yuan and the Japanese yen are set to suffer the most without greater efforts to mitigate the effects of global warming, Barclays said in a report.

China, Japan Jun 14 2022

China's May new yuan loans seen rebounding on central bank support -Reuters poll

BEIJING China's new yuan loans likely rebounded sharply in May after a drop in April, a Reuters poll showed, as the central bank ratchets up policy support for the slowing economy.

Jun 09 2022

Exclusive-Didi pursues EV stake as it aims to emerge from regulatory shadows-sources

HONG KONG China's Didi is in talks with state-backed Sinomach Automobile to buy a third of its electric-vehicle unit, two sources said, signalling the ride-hailer's regulatory troubles are in the rear view mirror as it focuses on growth.

Jun 08 2022

China encourages public to help with national security with cash for tip-offs

BEIJING Chinese citizens can get rewards of more than 100,000 yuan ($15,000) and special certificates for tip-offs on breaches of national security under measures introduced this week, state media reported on Tuesday.

Jun 07 2022

Crisis-hit Sri Lanka needs $5 billion, help from China for essentials

COLOMBO (Reuters) -Sri Lanka will need $5 billion over the next six months to ensure basic living standards, and is renegotiating the terms of a yuan-denominated swap worth $1.5 billion with China so as to fund essential imports, the prime minister said on Tuesday.

World, China, United Nations Jun 07 2022

HSBC plans $448 million investment in Chinese business - Xinhua

HONG KONG (Reuters) -HSBC Holdings plans to invest more than 3 billion yuan($448 million) in its Chinese operations, Chief Executive Noel Quinn told state news agency Xinhua, saying he sees challenges for the economy but also opportunities for investments.

Jun 01 2022

China uses digital yuan to stimulate virus-hit consumption

SHANGHAI China is using the digital yuan to stimulate consumption in its pandemic-hit economy, with more e-CNY applications expected in future to boost transparency and effectiveness of government policies.

May 30 2022

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