Thursday, August 20, 2015
Mainland China's triple yuan devaluation could hit France's lucrative luxury sector, which has already been impacted by Beijing's tough anti-corruption drive against spendthrift officials, analysts say.
Foreign investment into mainland China rose 5.2 percent in July compared to the previous year, largely on the back of mergers and acquisitions by overseas firms, the commerce ministry said on Wednesday.
Mainland China has injected nearly US$100 billion from its foreign exchange reserves into two policy banks, which lend based on government directives, to help spur the country's sluggish economy, state media reported.
Mainland China's volatile stock market is taking shareholders on a white-knuckle ride, threatening to drive out the small investors Beijing hopes will help pay for reforms of state industry.
Saturday, August 15, 2015
Mainland China's central bank on Friday raised the value of the yuan against the U.S. dollar by 0.05 percent, the national foreign exchange market said, ending three days of falls after a surprise devaluation.
Mainland China's currency devaluation is a step in the long march to a more open regime for the yuan, analysts say, but authorities will need to further loosen their controls to promote long-term growth.
Friday, August 14, 2015
Mainland China weakened its currency for the third consecutive day Thursday, but financial markets that had been shaken by the surprise devaluation took heart as authorities pledged not to let the yuan plummet.
Even as data indicate that mainland China's economy is in a fragile state, Chinese demand for New York City real estate remains strong as developer Oceanwide Holdings Group Co. has agreed to acquire a pair of sites in Manhattan for US$390 million.
Thursday, August 13, 2015
The Chinese yuan is expected to continue to fall further in the second half of this year after the latest steep decline, but the pace of the currency's depreciation will become slower, an analyst said Wednesday.