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 […]
Category: Markets
China’s domestic auto market saw sales drop 14.8% from a year earlier in January, reports Caixin. This comes as the industry grappled with a shift in government support policies. Total domestic sales fell to 1.665 million vehicles last month, down 33.9% from December, the China Association of Automobile Manufacturers (CAAM) said Wednesday. Domestic new-energy vehicle (NEV) […]
Semiconductor Manufacturing International Corporation reported a 12.8% increase in fourth-quarter revenue, reports Caixin, though net profit declined as heavy spending on capacity expansion weighed on earnings. China’s largest chip foundry posted revenue of $2.49 billion for the three months ended December, according to a Tuesday earnings release. Net profit fell 24.9% from a year earlier to […]
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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 […]
China’s consumer price inflation likely slowed in January due to the later timing of the Lunar New Year, while factory-gate deflation might show further signs of easing amid rising global commodity prices, reports Caixinciting its own survey. The survey of 12 domestic and international institutions puts the average forecast for the year-on-year rise in the consumer […]