The euro regained a foothold in early deals in London, investors choosing to take some profit on two days of steep losses.» Read More
Quantitative easing measures and monetary policy in the United States will kill the dollar quickly unless there are balances to it as a global currency, Zhu Min, executive vice president of the Bank of China told CNBC Wednesday.
China announced Monday the outlines of a thorough reform of the health care system that pledges to provide improved services to all citizens by 2020, tackling a critical issue that has become a major source of public dissatisfaction.
On Thursday, solar exchange traded funds (ETFs) soared by about 17 percent, and some stocks within the funds were up by as much as 50 percent. For the week, the ETFs finished up about 30 percent. What gives?
China has bought more than $1 trillion of American debt, but as the global downturn has intensified, Beijing is starting to keep more of its money at home, a move that could have painful effects for American borrowers, the New York Times reported.
China will use a variety of tools, including interest rates, to stabilize growth and keep the world's fourth-largest economy on an even keel, the central bank said on Sunday.
The yuan breached the closely watched 7.0 mark versus the dollar on Monday after the central bank fixed its reference rate at a post-revaluation high and the government reported higher-than-expected consumer price inflation for April.
Chinese exporters are starting to ask European customers to pay in euros, The New York Times reports.
China should keep the yuan fairly stable to anchor expectations about the currency's rate of climb, a prominent economist said in remarks published on Monday, adding to a growing tide of calls for it to rise more slowly.
China reaffirmed its commitment on Wednesday to regular high-level talks with the United States that visiting Treasury Secretary Henry Paulson hopes will help to pry open Chinese markets and speed the yuan's rise.
China's capital spending on assets such as flats and factories eased at the start of the year, providing more evidence of a modest slowdown in the world's fourth-largest economy.
China's retail sales grew by 20.2 percent in January and February from a year earlier, supported by strong consumer spending but also propped up by the highest inflation in nearly 12 years.
China's consumer inflation jumped in February to an 11-year high of 8.7 percent, presenting Beijing's stability-conscious leaders with a big economic headache in the run-up to the Olympic Games.
A stronger yuan can help temper price pressures but plays second fiddle to monetary policy in China's struggle against inflation, the country's central bank chief said on Thursday.
Plans for sweeping federal programs that would aid troubled mortgage borrowers would bring unfair relief to speculators and reward investors who made bad bets, U.S. Treasury Secretary Henry Paulson said Thursday.
China's economy is likely to grow around 10 percent this year despite a global slowdown stemming from the U.S. subprime mortgage crisis, Dominique Strauss-Kahn, managing director of the International Monetary Fund, said on Friday.
China needs a more flexible currency to ward off rising inflation risks and the danger that its economy might boil over, U.S. Treasury Secretary Henry Paulson said on Wednesday.
China and the United States downplayed points of contention in trade relations, saying both sides needed to fend off protectionism as they prepared for difficult negotiations on economic disputes ranging from exchange rates to product safety.
China could be moving in the direction advocated by Europe of a stronger yuan, European officials said. The ECB and the People's Bank of China would set up a working group at once to examine currency issues.
The euro's rise against the yuan is largely a reflection of a sharp drop in the dollar, and the European Union should look to Washington to resolve the problem, Chinese Premier Wen Jiabao said on Wednesday.
China and the 13 countries using the single European currency agreed on Tuesday to cooperate to reduce global economic imbalances while heading off lurches in exchange rates.