China Is Weakening Its Currency before U.S. Trade Talks Begin

Bloomberg News
Bloomberg
China weakened its daily currency fixing by more than traders and analysts had expected before high-ranking U.S. officials arrive in the country to discuss trade issues.

China Is Studying Yuan Devaluation as a Tool in Trade Spat

Bloomberg News
Bloomberg
China evaluates impact of currency depreciation among trade tensions.

Bitcoin Proves Hard to Kill in China

Gabriel Wildau
Financial Times
Chinese investors are still trading bitcoin and buying initial coin offerings, suggesting authorities in Beijing are struggling to clamp down on cryptocurrencies just weeks after announcing that public exchanges would be shut down.

In China, Cryptocurrency Sales Persist in the Shadows

Chuin-Wei Yap
Wall Street Journal
Three days after Chinese regulators outlawed cryptocurrency fundraising in early September, a woman met with half a dozen individuals at a Beijing golf club to pitch a digital-currency investment opportunity.

China Just Reversed Two Policies Designed to Keep the Yuan from Sliding

Elena Holodny
Business Insider
China is reversing course and loosening some financial restrictions after the yuan's appreciation in 2017...

Renminbi Slides after China Relaxes Currency Controls

Gabriel Wildau, Tom Mitchell, Jennifer...
Financial Times
The renminbi suffered its worst day in three months after China’s central bank scrapped two rules intended to bolster the currency in a sign that official nervousness about currency depreciation and capital flight has eased.

Caixin Media

06.05.17

China to Boost Checks on Overseas Spending

China is stepping up supervision of the use of bank cards overseas, a move the foreign-exchange regulator says is needed to fight money laundering, terrorist financing, and tax evasion.Starting September 1, banks will be required to report on a...

U.S.-China Trade Scorecard: Advantage China

Roger Yu
USA Today
When President Trump meets with Chinese President Xi Jinping this week, he will remind his guest that China runs the largest trade surplus with the United States.

Nation Leads Asia in Growth Vitality

China Daily
Despite setbacks to regional economic integration, China maintained a 6.7 percent growth rate last year and contributed 33.2 percent to global economic growth, ranking the highest among all world economies.

For China’s Factories, a Weaker Currency Is a Double-Edged Sword

Keith Bradsher
New York Times
For the past three years, China has allowed its currency, the renminbi, to weaken in value compared with the American dollar. Yet the renminbi’s slide has provided only a marginal benefit.

Trump Is Not Anti-China, Lenovo CEO Says

Arjun Kharpal
CNBC
U.S. President Donald Trump is “not anti-China” but any move away from globalization by the White House could be a concern to businesses across the world, the chief executive Lenovo told CNBC on Tuesday. 

Corporate China Hits Global Debt Market Milestone

Jennifer Hughes and Don Weinland
Financial Times
Banks and other corporate borrowers quietly encouraged to raise money offshore

Picking a Fight over China’s Currency Will Snowball: Analyst

Leslie Shaffer
CNBC
If U.S. President Donald Trump proceeds with plans to label China a currency manipulator, the confrontation would likely escalate beyond trade, David Roche, global strategist at Independent Strategy, told CNBC on Monday.

Trump Accuses Chinese of Being ‘Grand Champions’ of Currency Manipulation

Newsweek
President Donald Trump declared China the “grand champions” of currency manipulation on Thursday, just hours after his new Treasury secretary pledged a more methodical approach to analyzing Beijing’s foreign exchange practices.

Mnuchin Says He Won’t Label China a Currency Manipulator...Yet

Kevin Cirilli and Saleha Mohsin
Bloomberg
Treasury Secretary Steven Mnuchin signaled no urgency to designate China a currency manipulator, saying he wants to use a regular review of foreign-exchange markets to determine if the U.S.’s largest trading partner is cheating.

U.S. Eyes New Tactic to Press China

Bob Davis
Wall Street Journal
Currency strategy would avoid singling out country in bid to avoid break in relations 

China January Exports Rise 7.9 Percent, Beating Forecasts

CNBC
China’s January exports easily exceeded analysts’ expectations, rising 7.9 percent from a year earlier, while imports rose by 16.7 percent, also topping forecasts, preliminary data showed on Friday. That left the country with a trade surplus of $51...

How China’s Dumping of Treasurys Will Affect U.S. Borrowing Costs

Jon Sindreu
Wall Street Journal
Foreign buyers are holding a smaller share of the debt of the some of the world’s top nations

Why China Doesn’t Need the U.S. for Trade

Winter Nie
Forbes
Unfortunately for Trump, it’s not the 1980s anymore.

How China Lost $1 Trillion

Keith Bradsher
New York Times
It’s a lot of money—but it’s shrinking.

China’s Forex Reserves May Beat Expectations: Analyst

Leslie Shaffer
CNBC
China’s foreign-exchange reserves data for January, due on Tuesday, may surprise on the upside after a long downtrend, an analyst said.

Yuan’s Gain Has Surprised Trump, Incoming Ambassador Branstad Says

Mario Parker
Bloomberg
Donald Trump probably hasn’t followed through on campaign pledges to label China a currency manipulator because the yuan’s been stronger than he anticipated, the U.S. President’s pick as ambassador to China said Tuesday.

How a China Crackdown Caused Bitcoin’s Price to Plunge

Geoffrey Smith
Fortune
The value of the cryptocurrency bitcoin is melting down Thursday, having dropped 20% against the dollar by midday Eastern Time in only two hours of frantic trading.

China, Seeking to Stop Weakening of Currency, Issues Restrictions

Neil Gough
New York Times
China’s financial regulators appear to have grown increasingly concerned in recent weeks about the pace of the renminbi’s depreciation

China’s Markets are Tamed— but Not Tempting

Anjie Zheng
Wall Street Journal
The roller-coaster ride may be over, but global investors say that still hasn’t made China attractive for 2017

These Three Major China Themes Will Be Pivotal in 2017

Aidan Yao
South China Morning Post
China’s economic growth target, the depreciation of the yuan and a looming change in several senior Communist Party positions will be important factors

China Central Bank Extends Emergency Loans to Financial Firms

Rachel Rosenthal and Yifan Xie
Wall Street Journal
Extends hundreds of billions of yuan in loans to ease liquidity crunch, continuing debt selloff

China’s Economic Policy Under Pressure After Fed Flags New Era

Tom Mitchell, Yuan Yang and Gabriel...
Financial Times
Rising US rates complicate balancing act for Beijing as it faces capital flight

China Exports Snap Seven-Month Losing Streak as Imports Surge

Bloomberg
China’s exports gained as a cheaper yuan aided foreign purchasing; Imports jumped the most in more than two years on strong demand for raw materials

China’s Currency Didn’t Really Drop, Despite Jitters Over Trump

Neil Gough
New York Times
Early Tuesday it appeared the RMB had suddenly fallen more than 8%, but no deliberate devaluation took place. Instead, the culprit was a technical problem

How China Could React to Trump’s Taunts: Best Case to Worst Case Scenarios

Heather Timmons and Zheping Huang
Quartz
In the wake of #TaiwanFreakout and the latest Twitter-storm, here’s a range of things Beijing could do, from the shrug-worthy to the downright terrifying

China Adds Curbs on Pulling Money Out of the Country

Bloomberg
New restrictions added as authorities seek to prevent a flood of capital outflows from destabilizing the financial system

Conversation

11.09.16

How Should Trump Deal with China, and How Should China Deal with Trump?

James Holmes, David Dollar & more
Donald J. Trump, president-elect of the United States, spent much of his antagonistic campaign blaming China for many of America’s economic ills, and repeatedly making thinly veiled threats of a U.S. trade war with Beijing. How should Trump engage...

Caixin Media

10.24.16

The Yuan’s Internationalization is Just Beginning

The official acceptance of the yuan (or renminbi) into the International Monetary Fund’s elite currency club on October 1 marked a milestone in the Chinese government’s campaign to boost the yuan’s international appeal.Inclusion of the yuan in the...

China Marks Milestone With Yuan’s Entry Into IMF Reserve Basket

Ian Talley and Lingling Wei
Wall Street Journal
Move confers a measure of legitimacy after Beijiing’s yearslong effort to internationalize its currency; remains far from countering dollar’s status

Surge in Offshore Yuan Borrowing Rate Suggests China Intervention

Saumya Vaishampayan and Lingling Wei
Wall Street Journal
Move by banks in Hong Kong market, likely at behest of PBOC, seems aimed at bets against yuan.

China Exports Slide on Weak Demand

Mark Magnier
Wall Street Journal
Global uncertainty and headwinds continue to buffet the world’s second-largest economy.

China to Tolerate Weaker Yuan, Wary of Trade Partners’ Reaction

Kevin Yao, Nathaniel Taplin, and Lu...
Reuters
The yuan is already trading at its lowest level in more than five years.

IMF Pressing China to Disclose More Data on Currency Operations

Lingling Wei
Wall Street Journal
In recent months, the People’s Bank of China has increasingly turned to the derivatives market to help prop up the currency.

China Warns U.S. After Trump Wins Nevada Caucus

Bill Gertz
Washington Free Beacon
China warned the U.S. not to adopt punitive currency policies that could disrupt U.S.-China relations after Donald Trump’s win in the Nevada caucus.

As China’s Economic Picture Turns Uglier, Beijing Applies Airbrush

Edward Wong and Neil Gough
New York Times
This month, Chinese banking officials omitted currency data from closely watched economic reports.

Caixin Media

02.19.16

Central Bank Governor on Reforming the Exchange Rate, Adopting a Digital Currency

Recently Zhou Xiaochuan, Governor of the People’s Bank of China (PBOC), China’s central bank, had an interview with Caixin and talked about the yuan exchange rate regime reform, macro-prudential policy framework, digital currency, and other topics...

Conversation

01.27.16

Is George Soros Right that China’s Headed for a Hard Landing?

Arthur R. Kroeber, Stephen S. Roach & more
On Tuesday in an article headlined, “Declaring War on China’s Currency? Ha ha,” the People’s Daily attacked billionaire investor George Soros for suggesting he might short the renminbi. The Chinese currency has dropped 5.7 percent since August when...

Africa Feels the Chill of China’s Cooling Economy

Eric Olander, Cobus van Staden & more
It hasn’t even been a month since Chinese president Xi Jinping was in South Africa for the triennial Forum on China-Africa Cooperation (FOCAC) confab where he unveiled a massive $60 billion financial package. Oh how those were innocent, halcyon days...

Why It’s Getting Harder to Understand China

Ben Eisen
Wall Street Journal
The depreciating yuan is exposing the increasing difficulty in getting a firm reading on economy.

Chinese Stock Plunge Forces a Trading Halt, and Global Markets Shudder

Keith Bradsher and Amie Tsang
New York Times
The aftershocks carried over to Europe and the United States, where markets fell sharply once again.

Dow Plunges After Rout in Chinese Market

Dan Strumpf and Christopher Whittall
Wall Street Journal
Weak economic data in China spurs global selloff, while Shanghai Composite declines nearly 7%.

China Selloff Sparks Gloomy 2016 Start for Stocks

Herbert Lash
Reuters
A 7 percent slide in Chinese shares, sparked by weak economic data, rekindled worries over global growth on day one of 2016 trading.

Greece-Sized China Outflows Highlight Policy Maker Challenge

Enda Curran
Bloomberg
Investors are rushing money out of China as yuan weakens to lowest point since August.

Conversation

12.03.15

Does the Renminbi’s Elevation to Global Currency Matter?

Arthur R. Kroeber & Zhiwu Chen
On November 30, the International Monetary Fund approved the Chinese renminbi, also known as the yuan, as one of the world’s leading currencies, underscoring the country’s rising global financial importance. What’s behind the decision and what...

China’s Renminbi Is Approved as a Main World Currency

KEITH BRADSHER
New York Times
The I.M.F. decision will help pave the way for broader use of the renminbi in trade and finance, securing China’s standing as a global economic power.

China Stocks Hit Hard, Rest of World Shrugs

David Gaffen
Reuters
Chinese shares slumped 5 percent on Friday, hit by regulatory and industrial sector worries, but the declines did not carry through to other major equity markets.

Will The IMF Grant China's Currency Global Reserve Status?

Kenneth Rapoza
Forbes
The market doubts it, but it is possible that the Chinese currency, the renmimbi (RMB), may become part of the International Monetary Fund’s special drawing rights.

China Plans 2020 Deadline for Dismantling Capital Controls

Bloomberg
Top officials in the Communist Party will discuss pledging to “make the yuan convertible under the capital account"...

Once the Biggest Buyer, China Starts Dumping U.S. Government Debt

Min Zeng and Lingling Wei
Wall Street Journal
Shift in Treasury holdings is latest symptom of emerging-market slowdown hitting global economy.

Conversation

09.22.15

Xi Jinping’s Message to America

Taisu Zhang, Graham Webster & more
China’s President Xi Jinping addressed an audience of more than 700 American businesspeople in Seattle on Tuesday evening on the first stop on his first state visit to the United States. Regular ChinaFile Contributors who watched the speech offer...

China Market Rout Doesn't Reflect Economy, Top Diplomat Says

Bloomberg
“Some movements on the stock exchange in China should not equal the whole picture of the Chinese economy.”

One Thing China Got Right

Peter Coy
Bloomberg
Stocks plunged, monetary policy wavered, but Beijing finally fixed the "fixing."...