China seizes up to $157 bn of unspent local govt budgets: Sources

Last Updated: Monday, September 14, 2015, 18:15

Angry Chinese authorities have seized up to 1 trillion yuan ($157 billion) from local governments who failed to spend their budget allocations, sources said, as Beijing seek ways to stimulate economic growth which is at its slowest for 25 years.

China defends Yuan devaluation, sees 'limited' impact

Last Updated: Saturday, August 29, 2015, 15:49

China on Saturday defended the recent revamp of its foreign exchange regime that led to a sharp devaluation of the yuan, calling it a "normal adjustment".

Stocks post worst week in years on China fears

Last Updated: Saturday, August 22, 2015, 09:14

World stock markets tumbled on Friday and U.S. oil prices dove briefly below $40 a barrel sparked by fresh evidence of slowing growth in China, sending investors scurrying to the safety of bonds and gold.

Doubts over Chinese yuan put BOJ in a bind

Last Updated: Thursday, August 20, 2015, 10:00

China`s devaluation of the yuan exposes an undefended flank in the Bank of Japan`s efforts to jolt its flagging economy out of decades of deflation, which rely heavily on a solid pick-up in overseas demand.

IMF extends SDR update as eyes inclusion of China`s yuan

Last Updated: Wednesday, August 19, 2015, 22:52

The IMF said Wednesday that it had extended by nine months the scheduled revision of its elite currencies basket, giving more time for adjustment to the potential inclusion of China`s yuan.

China strengthens yuan rate against dollar by 0.01%

Last Updated: Monday, August 17, 2015, 08:25

The daily reference rate was set at 6.3969 yuan to $1.0, slightly stronger than Friday`s 6.3975, the China Foreign Exchange Trade System said.

China cuts yuan rate for 3rd straight day by more than 1%

Last Updated: Thursday, August 13, 2015, 11:12

China cut the reference rate for its currency for the third straight day on Thursday, authorities said, after their surprise devaluation of the yuan this week unsettled global financial markets.

China yuan devaluation rattles India Inc; cheap imports may rise

Last Updated: Wednesday, August 12, 2015, 22:39

With China's move to devalue its currency, engineering and textile exports from India are expected to take a major hit with Chinese goods becoming more competitive.

China calls for ATM upgrade to handle new currency notes

Last Updated: Wednesday, August 12, 2015, 17:59

The People's Bank of China (PBOC) said it will issue new 100-yuan bank notes starting November 12.

China devalues yuan further, sparks fears of currency war

Last Updated: Wednesday, August 12, 2015, 17:57

Tuesday's devaluation by the world's second largest economy, the first since 1994, was effected amid slowing down of the economy which is hovering around seven percent and falling exports.

Chinese currency devaluation appears a welcome step: IMF

Last Updated: Wednesday, August 12, 2015, 12:17

China's new mechanism for determining the central parity of its currency "appears a welcome step" as it should allow market forces to have a greater role in determining the exchange rate, the IMF has said.