Sunday, August 16, 2015
The International Monetary Fund delivered a reassuring economic assessment of China on Friday, at the end of a week that saw the Chinese currency plummet and global stock markets buckle at the prospect of more bad news from the world's second-biggest economy.
Saturday, August 15, 2015
Residents around the site of giant explosions in the Chinese port of Tianjin were evacuated over fears of toxic contamination, the official Xinhua news agency said Saturday, as the death toll rose to 85.
Mainland Chinese authorities struggled Friday to extinguish fires and identify dangerous chemicals at a devastated industrial site, two days after giant explosions killed dozens and left residents in fear of being cloaked in a toxic cloud.
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 market regulator on Friday vowed to stabilize the volatile stock market for a "number of years," saying a state-backed company tasked with buying shares will have an enduring role.
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.