China’s central bank set the yuan’s daily fixing rate at its strongest level since mid-2023 on Wednesday, reports the South China Morning Post. This comes as the Chinese currency extended gains with investors increasingly rotating out of US dollar assets amid concerns over the Federal Reserve’s independence and US debt sustainability. The People’s Bank of China […]
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A strong yuan?
China’s central bank set the yuan at the strongest rate since mid-2023, fixing it at RMB 6.9438 to the dollar, continuing a trend from April 2025 when it hit its lowest point since 2007 of 7.3498. However, comparing it against other currencies, it appears as though it is currently more that the dollar is weakening […]
The Shanghai Integrated Circuit Industry Investment Fund, backed by the municipal government, has expanded one of its three funds more than 11-fold, reports the South China Morning Post. The move aims to pump more capital into the city’s chip firms as part of China’s broader pursuit of tech self-reliance. The third phase of the fund, also […]
As global capital trickles back toward China, policymakers are using tougher enforcement and cooling measures to slow the market’s pace in order to strengthen its appeal in the long term, reports Reuters. With fund managers now seeking to diversify away from dollar-heavy portfolios, Beijing’s calibrated approach could help reverse years of retreat when some investors even […]
The People’s Bank of China is boosting the supply of money available to banks to ensure they can meet the surge in demand for cash during the Lunar New Year holidays, reports Bloomberg. The central bank injected a total of RMB 600 billion ($86.4 billion) via 14-day repurchase agreements late last week, ending a two-month hiatus for such operations. Industrial […]