Tag: Yuan

China’s trade surplus reaches two-year high in July

China’s trade surplus reaches two-year high in July

August 10, 2011 | 0 Comments More
China’s trade surplus swells in April

China’s trade surplus swells in April

May 10, 2011 | 0 Comments More
China and US to hold talks over currency issues

China and US to hold talks over currency issues

China and the US are set to hold economic talks in Washington DC next month as the two countries endeavour to reach an agreement over currency issues. The State Department announced yesterday: “The third meeting of the U.S.-China Strategic and Economic Dialogue (S&ED) will be held in Washington, DC, May 9-10, 2011.” China has been [...]

April 26, 2011 | 0 Comments More
China’s yuan hits record high against US dollar

China’s yuan hits record high against US dollar

The yuan has risen to an all-time high against the US dollar today - trading in a range from 6.5552 (a record high) to 6.5596 and up from Monday’s close of 6.5611. The currency has now risen about 4.1% since last summer and 0.2% this week alone. Beijing has been under pressure to let its [...]

March 22, 2011 | 0 Comments More
China rejects faster yuan rise

China rejects faster yuan rise

Chinese Premier Wen Jiabao said today his Government can control stubbornly high inflation and rejected any changes to its tightly managed currency, the yuan. Last week, China’s National Bureau of Statistics (NBS) revealed inflation rose 4.9% in February on an annual basis – the same figure as January. It remains well in excess of the [...]

March 14, 2011 | 0 Comments More
China reports surprise trade deficit

China reports surprise trade deficit

Official figures have today revealed China returned to a trade deficit last month on the back of a sharp slowdown in exports. According to the Customs Authorities, exports grew just 2.4% in February on an annual basis to $96.74 billion, while imports rose 19.4% to $104.04 billion. This compares with a 38% rise in exports [...]

March 10, 2011 | 0 Comments More
China trade surplus shrinks in January

China trade surplus shrinks in January

Official figures have today revealed Chinese imports soared by 51% in January compared with a year ago - far exceeding forecasts of a 28% increase. Meanwhile, exports grew 38% in January on an annual basis, according to the customs authorities. Again, this easily beat expectations of a 22.4% rise. The strong rise in imports led [...]

February 14, 2011 | 0 Comments More
Chinese economic growth continues to surge

Chinese economic growth continues to surge

China, which is the world’s second largest economy, experienced growth of 10.3% in 2010 - much higher than expected, according to the National Bureau of Statistics. While the growth is staggering, it has again raised fears of the economy overheating, which is adding to inflation pressures. In addition, fourth quarter growth was better than expected, [...]

January 20, 2011 | 0 Comments More
China’s trade surplus narrows in December

China’s trade surplus narrows in December

Figures today from the customs authorities revealed Chinese exports surged 17.9% in December to $154.15 billion on an annual basis. However, this was much slower than the 34.9% rise reported in November. Imports, meanwhile, also rose, by 25.6% on a yearly basis to $141.07 billion, narrowing the country’s controversial trade surplus to $13.1 billion in [...]

January 10, 2011 | 0 Comments More
China’s trade surplus widens in October

China’s trade surplus widens in October

China’s trade surplus widened lat month - to reach its second highest level this year, official data showed today. The trade surplus grew to $27.1 billion (£17 billion) - far higher than September’s $16.9 billion but just slightly below the $28.7 billion reported in July. Exports and imports grew considerably, with exports up 22.9% on [...]

November 10, 2010 | 0 Comments More
David Cameron heads to China for trade talks

David Cameron heads to China for trade talks

British Prime Minister David Cameron will head to China for trade talks, in a move designed to strengthen business with Beijing. Business secretary, Vince Cable, and Chancellor George Osborne have already met with ministers which will see the start of three days of negotiations, with the intention of forming a “much stronger” relationship with China. [...]

November 8, 2010 | 0 Comments More
China’s economy shows signs of cooling

China’s economy shows signs of cooling

Chinese economic growth slowed in the July to September period, to 9.6%, official figures showed today. The world’s third largest economy has experienced sensational growth over recent times, expanding by 11.9% in the first quarter and 10.3% in the March to June period, according to figures from the National Bureau of Statistics (NBS). There were [...]

October 21, 2010 | 0 Comments More
Currency tensions escalate between China and US

Currency tensions escalate between China and US

China has today hit back at the US saying it will continue to reform its currency policy - but at its own pace. The US has been pressuring China to let the value of its currency, the yuan, appreciate against other currencies. In June, Beijing loosened its currency peg and, while the move was welcomed, [...]

October 15, 2010 | 0 Comments More
US trade deficit widens in August

US trade deficit widens in August

The Commerce Department today announced the US trade deficit widened in August by 8.8% to $46.6 billion (£29 billion), from $42.58 billion in August. Economists had expected a $44.5 billion gap. According to the Commerce Department, the widening in the trade deficit was primarily due to record imports from China. Imports from China rose 6.1% [...]

October 14, 2010 | 1 Comment More
China’s trade surplus narrows further in September

China’s trade surplus narrows further in September

October 13, 2010 | 0 Comments More
US dollar weakens vs. yen, yuan tensions continue

US dollar weakens vs. yen, yuan tensions continue

The US dollar has fallen to a fresh 15-year low against the Japanese yen today after this weekend’s International Monetary Fund (IMF) annual meeting in Washington failed to resolve the currency issue. Last week, the IMF expressed its concern for a currency war and said if Governments across the world use exchange rates as a [...]

October 11, 2010 | 0 Comments More
IMF fears currency war after interventions by central banks

IMF fears currency war after interventions by central banks

Dominique Strauss-Kahn, Managing Director of the International Monetary Fund (IMF), has expressed his concern for a currency war. According to Mr Strauss-Kahn, if Governments across the world use exchange rates as a policy weapon, there could be a serious risk to global economic recovery. His comments come ahead of the IMF and World Bank annual [...]

October 6, 2010 | 0 Comments More
US House passes yuan legislation

US House passes yuan legislation

The US House of Representatives has passed a bill, which will allow it to impose retaliatory tariffs on China. The bill passed 348 to 79 and included the support of 99 Republicans. However, to become law, the bill would also need to be passed by the Senate and then signed by President Barack Obama. However, [...]

September 30, 2010 | 0 Comments More
US House to pass legislation to allow flexible yuan

US House to pass legislation to allow flexible yuan

The pressure on China to allow a flexible yuan is increasing after the US House of Representatives is ready to pass a bill, which will allow it to impose retaliatory tariffs when another nation is found to be manipulating its currency’s value. The US has previously expressed dissatisfaction that China is keeping the value of [...]

September 29, 2010 | 0 Comments More
Obama presses China over yuan issues

Obama presses China over yuan issues

Following a “candid” two-hour meeting yesterday between Chinese Premier, Wen Jiabao, and US President, Barack Obama, it appears China will still not bow to pressure over its currency. The object of the meeting was to urge China to revalue its currency, the yuan. The US has previously expressed dissatisfaction that China is keeping the value [...]

September 24, 2010 | 0 Comments More