China's yuan set for first big loss since 2005

Last Updated: Wednesday, December 31, 2014, 11:31

The People`s Bank of China (PBOC) fixed the official midpoint at 6.1190 per dollar, 0.06 percent higher than Tuesday`s 6.1224.

China GDP figures wrong by $610 billion: Report

Last Updated: Wednesday, October 30, 2013, 16:09

China`s economy would be at least 3.7 trillion yuan (USD 610 billion) bigger than Beijing thinks if the country`s local government statistics were to be believed, state media reported Wednesday.

British, Chinese central banks agree currency swap line

Last Updated: Sunday, June 23, 2013, 10:32

The Bank of England and the People's Bank of China have signed an agreement to establish a reciprocal, three-year sterling-yuan currency swap line, Britain's central bank announced.

HSBC issues first documentary credit in yaun to city drug co

Last Updated: Friday, September 28, 2012, 16:22

The second largest foreign lender HSBC India on Friday said it has issued its first yuan-denominated documentary credit in the country for a Mumbai-based pharma firm, without naming the borrower.

China to encourage foreign investors in Hong Kong to use Yuan

Last Updated: Thursday, June 28, 2012, 15:19

The moves are part of a package of policies for Hong Kong ahead of the 15th anniversary of its return to China on July 1. The autonomous enclave of Hong Kong returned to Beijing's fold 15 years ago.

Wider yuan trading limit for creating more stable envt: China

Last Updated: Tuesday, April 17, 2012, 14:04

China on Tuesday said its move to widen the daily trading limit of its currency against the US dollar is aimed at breaking one-way expectation of the yuan's appreciation.

China to set up new international payment system for yuan

Last Updated: Thursday, April 12, 2012, 17:34

China is likely to put in place an international system of payments to facilitate cross-border yuan transactions which have risen to new highs in recent times.

China's yuan drops against US dollar

Last Updated: Thursday, March 8, 2012, 23:33

The Chinese yuan weakened 22 basis points to 6.3235 against the US dollar Thursday, according to the China Foreign Exchange Trading System.

Economic restructuring most pressing task: Wen

Last Updated: Monday, March 5, 2012, 13:37

After more than 30 years of development, the country has become the world's second largest economy and leading exporter.

China banker urges yuan settlement for oil: Report

Last Updated: Monday, February 20, 2012, 09:35

China should use its own currency to pay for oil imports from the Middle East, Central Asia and Russia to boost the yuan's global role and challenge the dollar's dominance, a top Chinese commercial bank executive said in comments published on Monday.

China launches $8 billion fund to aid overseas M&A

Last Updated: Friday, February 17, 2012, 10:09

China has launched a 50 billion yuan fund in Shanghai to aid overseas acquisitions by Chinese companies as part of efforts to promote international use the yuan and build the commercial hub into a global financial center.

China to make Shanghai the world's yuan centre by 2015

Last Updated: Monday, January 30, 2012, 09:44

China will make Shanghai the global centre of yuan trading, clearing and pricing by 2015, according to a specific state plan laying out the city's future as an international financial centre.