Edition:
United States

Yuan

U.S. draws China FX into trade dispute as IMF calls for resolution

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NUSA DUA, Indonesia The United States sought to make currency a central part of any solution to a bruising trade fight with China, keeping the pressure on Beijing to speed up economic reforms at a gathering of world policy makers who pledged to do more to safeguard global growth.

China views yuan depreciation not in its interest: Mnuchin

NUSA DUA, Indonesia U.S. Treasury Secretary Steven Mnuchin on Saturday said Chinese officials told him this week that a further depreciation of China's yuan currency was not in the country's interest.

Oct 13 2018

U.S.-China trade talks must cover currency, U.S. Treasury chief says

NUSA DUA, Indonesia U.S. Treasury Secretary Steven Mnuchin said on Friday that he told China's central bank chief that currency issues need to be part of any further U.S.-China trade talks and expressed his concerns about the yuan's recent weakness.

China, Mexico Oct 12 2018

Chinese movie star Fan Bingbing hit with huge tax evasion fines

BEIJING China has ordered A-list movie star Fan Bingbing to pay about 884 million yuan ($129 million) in overdue taxes and fines, state news agency Xinhua said on Wednesday, as a crackdown on tax evasion in the entertainment industry gathers momentum. | Video

Entertainment, People, China Oct 03 2018

China jails executives behind shadow banking Ponzi scheme: newspaper

SHANGHAI A court in China sentenced 10 people to prison for running "a 40 billion yuan ($5.84 billion) Ponzi scheme", the collapse of which sparked protests by jilted investors and made headlines, state media reported on Thursday.

World, China Sep 19 2018

Murder of Didi passenger prompts China clampdown, outrage

SHANGHAI China pledged on Monday to tighten oversight of its transport industry and warned that the country did not need ride-hailing firms which compromised on passenger safety, days after a Didi Chuxing passenger was raped and murdered by her driver.

Tech, China Aug 27 2018

Yuan hits four-week high as China signals support, revives X-factor for fixing

SHANGHAI China's yuan finished Monday afternoon trade at a near 4-week high to the dollar after the central bank revived a "counter-cyclical factor" in its daily fixing to support the currency, halting a record 10-week slide that rattled global markets and irritated Washington.

Aug 27 2018

Alibaba's revenue jumps but investments to prolong margin squeeze

BEIJING Alibaba Group Holding Ltd , China's biggest e-commerce firm, warned on Thursday investments in its delivery business would keep pressuring profits even as it reported its strongest-ever quarterly revenue growth, largely in line with estimates. | Video

Tech, China Aug 24 2018

Nissan to boost China production capacity by 40 percent, source says

BEIJING Japan's Nissan Motor Co plans to invest about $900 million to boost vehicle-making capacity in China by 40 percent by 2021 - part of a 60 billion yuan ($8.73 billion) strategy to become a top three player in the world’s largest auto market.

China, Japan Aug 20 2018

Exclusive: China central bank bars some offshore lending in latest move to support yuan

SHANGHAI China has banned banks in its ground-breaking free trade zones from certain lending activities to ease pressure on the yuan currency in offshore markets, two sources with direct knowledge of the matter said on Thursday.

Aug 16 2018

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