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: Economics & Policy
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 […]
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 […]
The European Union has increased tariffs on imports of ceramic plates, cups, bowls and other table and kitchenware from China after a review of anti-dumping measures in place since 2013, reports Reuters. The 27-nation bloc will apply a blanket 79% duty on the products, replacing previous duties that had ranged from 13.1% to 36.1%, a filing […]
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 […]