China Stocks Plunge to Two-Year Low on Tariff Threat; Yuan Sinks

Bloomberg News
Bloomberg
China’s benchmark equity gauge tumbled to a two-year low and the yuan weakened as a worsening trade dispute with the U.S. spurred panic selling. Bonds gained.

China’s Attempts to Supplant Dollar Face Historic Difficulties

Mike Bird
Wall Street Journal
The world’s first yuan-denominated oil contracts launched Monday, as part of China’s drive to turn its currency into a global force in markets.

China’s Yuan Toppled from Two-Year High as Trade Data Surprises

Bloomberg News
Bloomberg
China’s yuan sank the most since the aftermath of its shock 2015 devaluation, after data showed the country’s trade surplus more than halved last month, and investors speculated controls on outward cash flows will be eased.

The Upside for China in the US Stock Market Plunge – from the Chinese Economist Who Tipped a Big Fall

Frank Tang
South China Morning Post
A record points plunge in the US stock market this week could be good news for China’s exporters, according to a Chinese government economist who predicted a big correction in American shares four weeks ago.

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...

China’s Fosun Big on Expanding in Pharma

CBS News
Chinese conglomerate Fosun International will remain on the lookout for investment opportunities in the West amid concerns in the market over capital controls and debt levels, according to the company’s chairman.

China Is Reportedly Getting Ready to Hit back against Any of Trump’s Trade Penalties

Fortune
China’s government has been seeking advice from its think-tanks and policy advisers on how to counter potential trade penalties from U.S. President Donald Trump, getting ready for the worst, even as they hope for business-like negotiations.

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.

China Overseas Investment Spree Set to Run Out of Steam

Lingling Wei
Wall Street Journal
A government think tank predicts China’s direct investment overseas, after years of robust gains, is likely to decline in 2017

China Banks Extend Record 12.65 Trillion Yuan in Loans in 2016 as Debt Worries Mount

Sue-Lin Wong and Lusha Zhang
Reuters
China’s banks extended a record 12.56 trillion yuan ($1.82 trillion) of loans in 2016 as the government encouraged more credit-fueled stimulus to meet its economic growth target

China Inc.’s Large Dollar Debts Fuel Beijing’s Efforts to Curb Yuan Plunge

Ling Ling Wei
Wall Street Journal
The large pile of foreign debt owed by Chinese companies, from state-owned banks to airlines, is giving added impetus to Beijing’s efforts to keep the yuan from falling too steeply against the rallying dollar.

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...

Yuan Buckles After Latest Drop in China’s Foreign-Exchange Reserves

Gregor Stuart Hunter
Wall Street Journal
Chinese currency hits weakest level against dollar since January after reserves fall by more than forecast in September

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 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.

Warning Sign: China Sets Currency at 5-Year Low

Heather Long
CNN
Some believe that China's economic growth is actually 4.2% instead of the claimed 6.5%-7%...

China Said To Plan Asking U.S On Timing Of Fed Rate Hike

Bloomberg
China hopes for a July inflate as exchange rates weaken....

China Challenged to Keep Yuan Stable as Dollar Rises

Lingling Wei
Wall Street Journal
PBOC must support growth while keeping currency valuable enough to stem flood of wealth abroad.

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%.

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...

How China’s Economic Slowdown Will Impact Africa

Eric Olander & Cobus van Staden
The tremors in China’s faltering economy are being felt across Africa. Now that China has replaced Europe and the United States as most African countries’ largest trading partner, there is understandable concern that slowing demand in the P.R.C...

Currency Devaluation and U.S.-China Relations

David Dollar
Brookings Institution
When President Xi Jinping and an entourage of Chinese officials come to Washington this week, one of the top issues on the economic agenda will once again be the exchange rate.

One Thing China Got Right

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

Caixin Media

08.24.15

How to Solve China’s Currency Parity Puzzle?

Boosting exports, controlling outbound capital flow and supporting the Chinese currency’s bid for Special Drawing Rights (SDR) status are just some of the reasons cited by analysts for the yuan's unexpected devaluation in mid-August.The yuan...

China Reveals Misuse of $2.7 Billion in Lottery Funds

Sui-Lee Wee
Reuters
China uncovered the misappropriation of $2.72 billion from its state lottery program, used to buy and build office buildings and hotels.

Feeling Valued

Economist
The IMF changes its tune on China’s currency.

Is China Preparing for Currency War?

William Pesek
Bloomberg
As China grapples with its slowest growth in 24 years, President Xi Jinping is under pressure to stimulate the economy.

China and the World: Yuan for All

Economist
The yuan is not yet fully convertible and will not be for several years, which limits China's influence...

Chinese Banks Halt Experimental Yuan-Remittance Program

LingLing Wei
Wall Street Journal
China’s major banks have halted an experimental program, sanctioned by the country’s central bank, that helped citizens transfer large sums overseas despite government capital controls, according to people with knowledge of the matter.

China’s Currency Suddenly Reverses Direction, Stuns World Markets

Michael Schuman
Time
Some speculate that the reversal is a prelude to currency reform, yet others think that China is purposely pushing the yuan down in value to give its exports a lift amid the nation’s decelerating growth.

Conspiracy Theories Abound About China’s Gold Purchases

Tom Holland
South China Morning Post
Huge imports of gold have fueled speculation about the mainland’s intentions, including an alleged bid to launch a global monetary system.

Milestone for Yuan Marks Rise of China

Wall Street Journal
China for the first time joined the ranks of the most-traded international currencies, underscoring the rise of the world’s second-largest economy and the growth of the global foreign-exchange market.  

Conversation

03.28.13

Will China’s Renminbi Replace the Dollar as the World’s Top Currency?

Patrick Chovanec, Damien Ma & more
Patrick Chovanec:This week’s news that Brazil and China have signed a $30 billion currency swap agreement gave a renewed boost to excited chatter over the rising influence of China’s currency, the renminbi (RMB). The belief, in many quarters, is...