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Stock Market / Finance in China

  • BRICS countries considering own cryptocurrency as settlement mechanism

    CHINA, 2017/09/07 The BRICS Finance Committee is discussing a joint virtual currency for the five country bloc of developing economies, according to the Russian Direct Investment Fund (RDIF) chief Kirill Dmitriev. During the BRICS Summit in Xiamen, Dmitriev told journalists that Brazil, Russia, India, China and South Africa could develop its own alternative to other payment tools. "While there is a focus on settlements in national currencies, cryptocurrencies are as well being discussed as one of the possible settlement mechanisms," Dmitriev explained.
  • Rise in China's forex reserves indicates stabilized capital flow, firmer economy

    CHINA, 2017/08/15 The rise in China's foreign exchange reserves in July reflects the facts that the country's cross-border capital flows have stabilized and that Chinese economy stands on a firmer footing, analysts said here on Tuesday. China's foreign exchange reserves reached 3.081 trillion U.S. dollars by the end of July, marking a sixth consecutive rise, according to the People's Bank of China. It is the initial time that the reserves expanded for six months in a row since June 2014.
  • china Mainland sees 4.3% fall in FDI in April

    CHINA, 2017/06/20 FOREIGN direct investment in the Chinese mainland retreated mildly from a year ago in April, data from the Ministry of Commerce showed yesterday. The FDI fell 4.3 % from a year before to 59.91 billion yuan (US$8.7 billion) in April, in contrast to a 6.7 % increase in March, said a statement posted on the ministry’s website. Last month saw 3,343 new foreign-funded enterprises set up on the mainland, up 42.7 % year on year.
  • Yuan strengthens to almost 7-month high

    CHINA, 2017/06/20 THE yuan surged to a near seven-month high yesterday, following news that China was mulling a new yuan pricing formula to enhance stability. Spot yuan strengthened through 6.8 per US dollar for the initial time since November 11 in early trade before retreating and settled at 6.8061 by the close of trade in China. The 4:30pm settlement price was still nearly 0.2 % firmer than the previous late session close.
  • China ready to improve security cooperation among SCO members

    CHINA, 2017/04/07 China will make efforts to improve security cooperation part members of the Shanghai Cooperation Organization (SCO), said Chinese National Councilor Guo Shengkun here Thursday. China is ready to work jointly to increase mutual political support and cement strategic mutual trust part SCO members, said Guo, at the same time as addressing the 12th session of the SCO security council secretaries in the Kazakh capital of Astana.
  • China-Portuguese Speaking Countries Cooperation Fund presented in Macau

    CHINA, 2017/01/23 A presentation session of the China-Portuguese Speaking Nations Cooperation and Development Fund and the investment framework for investment in Portuguese-speaking nations is due to take place on 25 January in Macau, organised by the Macau Institute for Trade and Investment Promotion (IPIM). This session is co-organised by the Macau Economic Service, the Finance Services Bureau and the Macau Monetary Authority and support is provided by the Permanent Secretariat of the Forum for Economic and Trade Cooperation between China and Portuguese-Speaking Nations.
  • Morocco and China sign $1.54bn currency swap agreement

    CHINA, 2016/05/16 In a statement published on May 11, 2016, the Central Bank of China announced it has signed with its Moroccan counterpart a currency swap agreement valued at $1.54 billion. The agreement which was signed on the initial day of Moroccan kin Mohammed VI in China should extend over three years and facilitate bilateral trade between the two nations.
  • China's pension fund may invest some 600 billion yuan ($92 billion) in stocks this year

    CHINA, 2016/03/28 The massive Chinese pension fund is likely to buy nearly 600 billion yuan worth of A-shares from China-based companies in 2016, the People's Daily newspaper reported. With the fund currently managing almost 90 % of China's social security deposits, its total assets amounted to 3.98 trillion yuan in late 2015, according to the publication. The fund has the potential to invest 2 trillion yuan, the newspaper said.
  • Exim Bank of China considers request for loan to Mozambique

    CHINA, 2016/03/26 The Export-Import Bank of China (Exim) is considering a request from Mozambique for a loan of US$156 million to accelerate the digital migration process in the country, said the Mozambican Minister for Transport and Communications. The deadline for migration from analogue to digital in Mozambique, initially set for June 2015, was missed, and the government presently plans to speed up the process, according to minister Carlos Mesquita, cited by Mozambican newspaper O País. The minister as well said Chinese company StarTimes, which has been awarded the arrangement, approved the disbursement of US$30 million, to be used for an order of specific digital equipment for Mozambique.
  • Asian Shares Fall Amid Lack Of Triggers

    CHINA, 2016/03/16 Asian shares slid from a 10-week high on Tuesday as oil prices fell again on oversupply concerns and the Bank of Japan preferred to stand pat on rates next its amaze January decision to adopt negative interest rates. Lackluster cues from Wall Street, a weaker yuan and profit taking next recent sharp gains as well kept investors on edge ahead of a two-day Federal Reserve monetary policy conference that gets underway tonight. Chinese shares recouped early losses to end modestly higher next sharp gains the previous day. The benchmark Shanghai Composite closed 4.87 points or 0.17 % higher at 2,864.37 next falling around 1 % before in the session. Hong Kong's Hang Seng index dropped 146.57 points or 0.72 % to 20,288.77.