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More and more countries are accepting Chinese currency yuan, or RMB, to settle accounts with China, marking the end of the US dollar domination as a reserve currency. According to a report, 2013 will be very much about dealing with offshore yuan liquidity supply concerns through further capital account liberalization, and said it anticipates a range of "exciting" policies and market developments ahead. It forecast that the yuan will appreciate against the US dollar by around 2 to 3 percent next year, and yuan-denominated cross-border trade settlement will increase by around 30 percent to 4 trillion yuan ($634.9 billion), or approximately 15 percent of China's global trade value.
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  • By Li Xiang(China Daily)2017-12-05 07:29

    Xu Hongcai, an economist at the China Center for International Economic Exchanges. [Photo/China Daily]The country should strengthen scrutiny of cross-border capital flows and increase the flexibility of its monetary policy to offset any adverse effect from the drastic tax cuts by the United States, ...

  • (China Daily)2017-12-05 07:18

    Nation stepping up oil, gas exploration China will step up exploration for oil and gas and develop unconventional resources to ease the country's reliance on imports, a research center said over the weekend. By 2035, China is likely to keep the dependence rates on oil, gas imports within 70 percent ...

  • By Xu Haoyu(China Daily)2017-12-02 07:28

    As the traditional arts enjoy something of a renaissance, innovation remained the buzzword at the recent World Leisure Expo in Hangzhou "In Chinese, wenhua means culture. The word is made up of two characters. Wen stands for history and hua refers to the process of change," says Guo Aihe, a 53-year ...

  • By Wang Ying In Shanghai(China Daily)2017-12-02 06:52

    Shen Wenhao is about to pay the final installment of his air ticket that brought him from his home of Qingdao, Shandong province, during the National Day holiday in October. "I looked for an affordable air ticket before the holiday, and discovered that I can pay by installments without down payment ...

  • (Xinhua)2017-12-01 08:26

    BEIJING — China's dollar-denominated Qualified Foreign Institutional Investors (QFII) program saw its total quota rise to $96.79 billion as of Nov 29, the forex regulator said Thursday. The amount was up from $94.49 billion at the end of October, according to data from the State Administration of ...

  • By Chen Jia(China Daily)2017-11-30 07:46

    China's top foreign exchange regulator warned on Wednesday that systemic risk could possibly rise in the foreign exchange market due to unexpected fluctuations from irrational trading, as headwinds may get fiercer along with the deepened opening of financial sector. As some developed economies gradu...

  • By Wu Yiyao In Shanghai(China Daily)2017-11-30 07:46

    Move could lead to higher financing costs, flurry of capital enhancements Bond issuances by Chinese property developers have surged in the past few months, triggering fears of higher financing costs and the need to supplement cash flows, said analysts. Combined financing for Chinese developers year-...

  • (Xinhua)2017-11-29 08:27

    PARIS - The first RMB-denominated climate bond issued by a Chinese bank was listed Tuesday on the Euronext stock exchange here.The bond had been successfully issued on Nov 15 in three trenches, namely 700 million euros ($829.6 million), $500 million, and 1 billion yuan ($151.4 million), by the Bank...

  • (Xinhua)2017-11-28 11:31

    BEIJING - The People's Bank of China (PBOC), the country's central bank, said Monday it has extended a currency swap agreement with the Hong Kong Monetary Authority. The size of the swap line is 400 billion yuan ($60.6 billion) or HK$470 billion, according to a PBOC statement. The two parties believ...

  • (China Daily)2017-11-25 07:11

    Railway network to be expanded China will expand the railway network to 150,000 kilometers by 2020, including 30,000 km of high-speed railway, according to the 13th Five-Year Plan (2016-20) for railway construction issued by the nation's top economic regulator on Friday. The network is expected to c...

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