Dollar drops, yuan slumps on COVID unrest in China


LONDON/SINGAPORE The dollar fell sharply against Japan's yen on Monday as investors focused on rare protests in China, which pushed the yuan to a two-week low.

Evergrande aims to win approval for restructuring proposals early next year

HONG KONG (Reuters) -Embattled property developer China Evergrande Group aims to win creditors' approval for its debt restructuring proposals by as early as the end of February, the company's lawyers said on Monday.

5:40am EST

China's stocks, yuan tumble as COVID protests rattle nerves

SHANGHAI Chinese stocks on Monday saw the worst day in a month, as recent monetary-easing measures failed to offset investor worries about protests against strict COVID-19 curbs in the world's second-largest economy, while the yuan weakened versus the dollar.

5:08am EST

China leaves lending benchmarks unchanged for 3rd straight month in Nov

SHANGHAI (Reuters) -China kept its benchmark lending rates unchanged for the third straight month on Monday, as a weaker yuan and persistent capital outflows continued to limit Beijing's ability to ease monetary conditions to support the economy.

Nov 20 2022

China keeps key lending rate unchanged as policymakers balance yuan, economic risks

SHANGHAI (Reuters) -China's central bank partially rolled over maturing medium-term policy loans and kept the interest rate unchanged for a third straight month on Tuesday, suggesting policymakers remain wary of stoking further yuan weakness by easing monetary conditions.

Nov 14 2022

Factbox-Key regulatory measures to stabilise China's embattled property sector

HONG KONG Chinese property stocks and bonds rose sharply on Monday after news of further support measures from Beijing to boost liquidity in the sector, hailed by one analyst as a "soaking rain after a long drought". | Video

Nov 14 2022

Ant's consumer finance unit to more than double capital to $2.62 billion

HONG KONG (Reuters) -The consumer finance unit of China's Ant Group will increase its registered capital to 18.5 billion yuan ($2.62 billion) from 8 billion yuan previously, in part by taking on new investors, underscoring a step forward for the fintech giant's years-long revamp.

China yuan's long-term strengthening trend will not change - state media

SHANGHAI China's yuan exchange rate is decided by market supply and demand, while its long-term strengthening trend will not change, a state-run media outlet said on late on Friday following a sharp jump in the local currency during the day.

Nov 11 2022

China new bank lending stumbles as COVID flare-ups hit demand

BEIJING (Reuters) -New bank lending in China tumbled more than expected in October from the previous month while broad credit growth slowed, as COVID-19 outbreaks and a property sector downturn weighed on credit demand.

Nov 10 2022

China's Oct new yuan loans seen sliding as demand weakens - Reuters poll

BEIJING China's new yuan loans likely slumped in October from September, a Reuters poll showed, as stringent curbs to stamp out COVID-19 outbreaks and a property sector debt crisis hurt economic activity and credit demand.

Nov 09 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