BEIJING—China's yuan on Friday briefly hit its highest level against the U.S. dollar since the launch of the modern Chinese currency-trading system in 1994, underscoring the global impact of U.S. efforts to juice its economy and raising tough questions for Beijing over whether to tolerate or stop further strengthening. Read more...
Gary Locke, the United States ambassador to China, said the US invites China to play a significant role on the world stage as he met local entrepreneurs at the China International Fair for Investment and Trade in Xiamen on Saturday. Read more...
BEIJING—China's central bank said Thursday it will make stabilizing economic growth a bigger priority, signaling rising concern over the slowdown in the world's second-largest economy.
The People's Bank of China, in its second-quarter monetary policy report, added new language on growth as it repeated a standard formulation that it would balance the three objectives of maintaining steady and relatively fast growth, adjusting the economic structure and managing inflation expectations. Read more...
China's outward foreign direct investment (OFDI) expanded significantly in the past decade, but the majority of the investment has gone to countries in the developing world. However, in recent years the focus of Chinese investors has started to shift to North America and Europe. Since 2009, Chinese direct investment in America and Europe has increased sharply, and developed economy-bound flows are poised to grow heavily through 2020, according to Rhodium Group estimates. Policymakers are still grappling with the proper policy response, but significant progress has been made in the United States over the past two years. The key impediments Chinese firms face when setting up US shops are inexperience and lack of capabilities rather than political shenanigans. For American businesses, the growth of Chinese investment does pose certain risks, most importantly new competition at home and abroad, but it also brings invaluable new opportunities, such as divestment of assets, co-investment, and new business opportunities in China. Read more...
China’s growth fell to 7.6 per cent in the second quarter, its slowest since early 2009, as a property market downturn and weak exports weighed on the world’s second-biggest economy. Read more...
SHANGHAI — For three decades, China has enjoyed astronomical growth through massive government investment and by becoming the world’s exporting powerhouse. But those days are coming to an end, and the government is looking to Chinese consumers to drive future expansion. Read more...
WASHINGTON — Three of the largest state-owned Chinese banks have received approval to expand their operations in the United States, the Federal Reserve said Wednesday. Read more...
China is prepared to agree on Friday to take several important steps to open up its markets and level the playing field for foreign businesses, according to a U.S. official traveling with the delegation at the U.S.-China Strategic and Economic Dialogue. Read more...
WASHINGTON (MarketWatch) — Treasury Secretary Timothy Geithner on Friday said the U.S. and China made lasting progress on economic issues to culminate two days of senior-level talks in Beijing. Read more...
WASHINGTON - U.S. businesses are optimistic that vows of economic reform by Beijing will lead to an opening of China's financial system, and they are not worried diplomatic strains over a Chinese dissident will undermine high-level talks later this week.
