Chinese Yuan News

Chinese banks delivered a strong performance in April by selling more foreign currency than they purchased for clients, resulting in a net sale in foreign exchange of $3.7bn, revealed the State Administration of Foreign Exchange’s figures. It was the first time this year that the banks have delivered net selling, although they did...

The Chinese economy is beginning to pick up again after having reported its poorest quarterly growth since the end of the financial crisis in the opening three months of this year, revealed a Reuters poll. Economists forecast that the second biggest economy in the world will grow by 8.4 per cent in 2012, unchanged from expectations in the...

China’s economy, the second-largest in the world, has grown at its slowest rate for nearly three years, reports the BBC. There was an annual increase rate of 8.1 per cent in gross domestic product in the first quarter, a fall from 8.9 per cent during the last quarter of 2011. That is below what many analysts had forecast, with the...

Australia and China have signed a currency exchange agreement in an attempt to promote bilateral investment, reports the BBC. It will allow local currencies up to the value of 30bn Australian dollars (£ 20bn) to be exchanged between their central banks over a three-year period. The agreement is expected to reduce businesses’ costs as...

The dollar gained ground across the board today, boosted by safe-haven demand which was driven by concerns about a possible slowdown in China, which affected stocks in both Europe and the US. Global miner BHP Billiton revealed that there were indications that there has been a flattening of growth in iron-ore demand in China, Australia’s...

London is aspiring to be the leading international centre for the trading of the Chinese currency the yuan, AKA the renminbi, according to an announcement from the UK Treasury. George Osborne, Britain’s Chancellor, said England’s capital city is in the perfect position to act as a gateway between investment in Europe and Asian...