China added gold to its foreign reserves
China added gold to its foreign reserves last month for the first time in two years, a sign that (combined with a continued paring in U.S. Treasurys) points to continuing work to cut dependence on […]
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China’s peer-to-peer lending sector is storming
Around 80 investors in failed lender Xinhehui protested outside the Hangzhou headquarters of a Meidu Energy Corp. on January 22th 2019. The investors voiced their fury to put pressure on the company to pay off […]
China expected to become top retail market this year
China is expected to top the U.S. as the world’s largest retail market in 2019. Retail sales in China are forecast to grow 7.5 percent to $5.6 trillion in 2019. Meanwhile, U.S. retail sales are […]
China reportedly to ban digital currency exchange trading
China is getting ready to prohibit the trading of bitcoin and other digital currencies on exchanges, people familiar with the matter said. Over-the-counter trading of digital currencies will be allowed to continue, they said. Related […]
Investing via smartphone in China prompts concerns
Personal investors in China are leading the world in a massive move toward making investments via smartphone apps, a trend that accounted for $200 billion in transactions in 2015, according to some estimates. The development […]
Lucid Motors looks to beat Tesla in China
The electric-car company Lucid Motors is looking to take on Tesla and other luxury automobile brands in China, says Chief Technology Officer Peter Rawlinson. The company has developed a prototype of a $100,000-plus car with […]
China’s Tencent makes $1.78B investment in Tesla
China’s Tencent Holdings Ltd has bought a 5 percent stake in U.S. electric car maker Tesla Inc for $1.78 billion. It is the latest investment by a Chinese internet company in the potentially lucrative market […]
China resumes reverse repos after 6-day pause
The People’s Bank of China has begun issuing reverse repurchase agreements after suspending them for six trading days. In a move to ease funding conditions, the bank has offered reverse repo loans to commercial banks […]
China’s foreign exchange reserves have dropped below the $3T level
China’s foreign exchange reserves have dropped below the $3T level for the first time since 2011, marking the seventh straight monthly decline as capital continues to flow out of the world’s second-largest economy. Data from […]
China’s foreign reserves fall below $3T threshold
For the first time in several years, China’s foreign exchange reserves have dropped below $3 trillion, an event that some economist see as worrying. Much of the decline was caused by China’s efforts to defend […]