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Businessman Deposits 200,000 Yuan in Coins

Mia Ren |

Apr 14, 2017 11:15 PM EDT

A bank in Henan province received 50 boxes of change worth more than 200,000 yuan from a businessman.

Woman Says She Was Thrilled After Stealing Bread

Mia Ren |

Apr 13, 2017 05:25 AM EDT

What a daredevil.

Tourists Sneak Into a Zoo by Wall Climbing

Mia Ren |

Apr 07, 2017 10:47 PM EDT

They really, really want to see the animals.

China Takes Steps to Control Yuan Value Slide, Outlook Bleak

S. Rina |

Jan 16, 2017 08:09 PM EST

China has instituted various measure to contain the fall in the value of its currency. However, market experts believe that the slide is likely to continue despite these actions. The slowdown in economy is likely to further exacerbate the depreciation in value.

However, the numbers have also given rise to new debt concerns.

China Reports Higher than Expected Credit Growth in 2016, Raising Debt Concerns

S. Rina |

Jan 14, 2017 01:57 AM EST

China reported extending $1.82 trillion worth of loans in 2016, setting a new record. However, the numbers have also given rise to new debt concerns. The country is looking to fuel its economy by providing more stimulus in the form of credit and debt, without creating an asset bubble.

The firm stated that alternatively, the country may decide to widen the trading band for the currency.

PIMCO Speculates Possibility of Floating Yuan in 2017

S. Rina |

Jan 14, 2017 12:11 AM EST

Asset management firm PIMCO stated that there is possibility that China may freely float Yuan this year. The firm stated that alternatively, the country may decide to widen the trading band for the currency. Yuan had a tumultuous time in 2016 as it saw steady decline in its value.

China Looks to Contain Yuan Volatility Amidst Falling Reserves

S. Rina |

Jan 11, 2017 06:45 AM EST

China is planning to contain the fall of its currency value as the country struggles to maintain its reserves. The currency showed the signs of weakness this week as well as The People's Bank of China set the mark on Monday at 0.87 percent lower than last Friday.

The drop in the value succeeded the meteoric increase in the value of the currency in the past two weeks.

China Warning Causes Bitcoin Value to Plummet

S. Rina |

Jan 09, 2017 09:25 AM EST

Bitcoin showed a deep plunge in its value as Chinese central bank raised concerns about the use of cryptocurrency. The drop in the value succeeded the meteoric increase in the value of the currency in the past two weeks.

According to the China Foreign Exchange Trade System (CFETS), the number of currencies included in the basket was increased to 24.

China’s Currency Basket Changes Could Make Yuan More Volatile

S. Rina |

Jan 04, 2017 08:44 AM EST

China recently made several changes to its currency basket, which is used for setting the daily value of the currency. According to China Foreign Exchange Trade System (CFETS), the number of currencies included in the basket was increased to 24, up from the previous 13 currencies.

A man walks past a display showing various Chinese bank notes

China Wants to Make Yuan the World's Top Currency

mwaniki wanjiku |

Nov 24, 2016 04:07 AM EST

The Chinese government is planning to construct an Asia-based economic bloc based on the Chinese Yuan

Villagers in Central China Complain About New 1 Million Yuan Building

Mia Ren |

Nov 23, 2016 10:27 PM EST

A committee in the village of Baoji, Shaanxi province that oversees the approval of infrastructures are receiving numerous complaints to its new office building worth 1 million yuan while still having outstanding debts from the construction of its previous office building six years ago.

The yuan hit a new six-year low on Wednesday.

Chinese Yuan at Lowest in 6 Years Following Trump's Victory

S. Rina |

Nov 10, 2016 12:53 PM EST

Donald Trump's victory led to the Chinese yuan plunging to a six-year low. The fall is due to concerns about Trump's protectionist trade policies. The Chinese yuan seems to be heading for its third annual loss. The currency is down 4.4 percent this year.

Chinese yuan continues to depreciate and exports continued to shrink in October.

China Forex Reserve Declines Following Weaker Yuan

S. Rina |

Nov 08, 2016 10:41 PM EST

China adjusted its yuan exchange rate upward against dollar this Monday. However, the weaker currency has been accompanied by unexpected fall in exports. The country's exports have fallen 7.3 percent in the past year. Its imports are also low on the year over year basis.

China’s war against underground banking and capital flow yielded solid results as the country uncovered $148 billion worth of illegal trades.

China Crackdown on Capital Flow, Yields $148-B in Illegal Trade

S. Rina |

Oct 21, 2016 10:16 PM EDT

China's war against underground banking and capital flow yielded solid results as the country uncovered $148 billion worth of illegal trades. The investigations are carried out by the State Administration of Foreign Exchange (SAFE) and are focused on capital outflows and foreign exchange transactions. The drive has already cracked 56 cases of illegal foreign exchange transactions this year so far.