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Apple now accepts Yuan for App purchases

Mon, 11/21/2011 - 16:05 by Yasser Ali

If you’re from China and love Apple, here’s some good news for you -- you can now pay for apps from Apple's App Store in Chinese yuan.

China reports $1.02bn trade deficit in Q1

Mon, 04/11/2011 - 14:19 by Anupreet Kaur

China, world's second biggest economy, has reported a trade deficit in its first quarter.

G20 reach consensus on economic imbalances

Mon, 02/21/2011 - 15:53 by Anter Prakash Singh

The finance ministers and central bank governors of G20 countries succeeded in overcoming the opposition of China to setting up of a global early warning system which can detect economic crisis threatening to hamper the growth of world economy.

Geithner hopeful Europe will tackle debt crisis

Sun, 05/16/2010 - 15:25 by Jaspreet Virk

Offering a positive outlook on the crisis in Europe, the U.S. Treasury Secretary Timothy F. Geithner said Friday that he is confident that Europe has the ability to successfully tackle its financial crisis.

Chinese premier to check property prices, keep Yuan stable

Sun, 12/27/2009 - 16:00 by Ishita Sood

Beijing, China, December 27 -- In an interview with China's official press agency, Xinhua, Chinese Premier Wen Jiabao said the government would keep a check on its property market and track illegal activities related to housing prices.

No short-term yuan appreciation seen

Fri, 11/13/2009 - 10:56 by shalini.bahadur

Beijing -- China is not expected to allow the yuan to appreciate against the U.S. dollar in the short term, Chinese experts said.

The yuan appreciation in the face of growing Chinese trade surpluses is one of the topics expected to be discussed when U.S. President Barack Obama visits China next week.

The United States also wants China to encourage domestic spending that would further open its markets for U.S. exports.

There have been indications China might allow its currency to move up, which would ease the pressure on the greenback in world currency markets.

Yuan not ready for internationalization

Wed, 09/16/2009 - 20:10 by Inderjit Singh

Beijing -- China may be the world's fastest growing economy but its central bank official says it is not yet time to internationalize the country's currency.

"We should be very cautious in discussing internationalization of the country's currency," Guo Qingping, assistant governor of the People's Bank of China, told a domestic briefing on the Group of 20 summit next week in Pittsburgh, China Daily reported.

He said China's economy is still small compared to the United States and its currency exchange is still highly regulated.

"Market forces, not our own urging, will determine whether the currency will be internationalized," Guo said.