- Reuters via Yahoo! FinanceOct 08 01:28 AM
China's central bank on Thursday launched a global payment system in a major step to facilitate yuan clearing transactions, bolstering Beijing's quest to internationalise its currency and challenge the primacy of the dollar in world finance. The cross-border interbank payment system, known as China International Payment System (CIPS), will remove one of the biggest hurdles to boosting yuan ...
- Reuters via Yahoo! FinanceOct 08 09:10 AM
China said on Thursday that it does not feel targeted by the U.S.-backed regional trade accord, the Trans-Pacific Partnership, but will evaluate the likely impact comprehensively. China is not among the 12 Pacific Rim countries who have agreed Monday's trade pact, the most ambitious in a generation. The accord includes Australia and Japan among economies worth a combined $28 trillion.
- AFP via Yahoo! NewsOct 08 07:13 PM
China needs to show the world it is going to follow through on reforming its economy to a more market and consumption-based model, US Treasury Secretary Jack Lew said Thursday. " China has undertaken a reform program... that would address many of the important challenges that China is facing. The question now is, do they have the will to stick with that and to demonstrate through their action ...
- Bloomberg via Yahoo! FinanceOct 07 06:14 PM
China’s stocks rose as trading resumed after a week-long holiday and investors speculated the government will take more steps to boost the world’s second-biggest economy.
- AFP via Yahoo! NewsOct 07 03:50 PM
China's effort to transition to a more market- and consumption-based economic model will be a monumental, risk-fraught task that will "require great care," the International Monetary Fund said in its new review of global financial risks.
- Reuters via Yahoo! NewsOct 08 04:58 AM
China has raised its solar power installation target for 2015 by 30 percent from its previous goal, state media reported, potentially adding to overcapacity as insufficient grid capacity remains a hurdle for the new plants to deliver power. China will add another 5.3 GW installed capacity of solar power stations this year, on top of an earlier national target of 17.8 GW, Xinhua reported, citing...
- AFP via Yahoo! NewsOct 08 12:50 AM
China's ruling Communist party said it is investigating the former boss of state-run energy giant Sinopec for alleged corruption -- the latest figure in the oil sector to be probed. Su Shulin is suspected of "serious disciplinary violations" -- normally a euphemism for corruption -- party anti-graft body the Central Commission for Discipline Inspection said on its website late Wednesday. Sinopec...
- BloombergOct 07 09:40 PM
China has started a payment system for cross-border yuan transactions, part of the nation’s plan to bolster the currency’s global usage and win reserve status from the International Monetary Fund.
- The Wall Street JournalOct 07 04:57 PM
China’s foreign-exchange reserves dwindled further in September, to $3.51 trillion, a trend that likely will force the country’s central bank to step up monetary easing.
- Reuters via Yahoo! NewsOct 08 04:13 PM
China must make green investments of between 2 trillion and 4 trillion yuan ($315-630 billion) per year over the next five years, but the government can only cover 15 percent of that, China's central bank deputy governor, Yi Gang, said on Thursday. "Most of the finance has to come from the private sector, so we have to provide a positive incentive mechanism," Yi said on the sidelines of ...