|Day's Range||0.158 - 0.158|
|52 Week Range||0.1443 - 0.1601|
Chinese shoppers stepped up spending during this year's week-long Lunar New Year holiday, splashing out more at restaurants, retailers and cinemas, according to Ministry of Commerce data released on Wednesday. The retail and catering sectors posted sales of 926 billion yuan ($146 billion) during the holiday period that began on Feb. 15 and ended on Wednesday, an increase of 10.2 percent from the year-ago holiday, the ministry said on its website. Chinese also travelled more during the holiday, with tourism revenue rising 12.6 percent to 475 billion yuan, the official Xinhua news agency said, citing the China National Tourism Administration.
SHANGHAI/BEIJING (Reuters) - Chinese internet search firm Baidu Inc (BIDU.O) posted a forecast-beating quarterly revenue increase and unveiled a U.S. listing plan for its Netflix-like video platform iQiyi as it looks to rev up new drivers for growth. Baidu posted on Tuesday fourth quarter revenue of 23.6 billion yuan (2.68 billion pounds), up 29 percent against the same period a year ago and topping analysts' forecasts of 23.05 billion yuan and the company's own guidance. The strong results are a major fillip for Baidu as it looks to ramp up spending on riskier gambles in autonomous driving and fend off cashed-up rivals such as Tencent Holdings Ltd and Alibaba Group Holding Ltd (BABA.N) in online video content.
Feb 12 (Reuters) - Fu Shou Yuan International Group Ltd : * ANNOUNCES ACQUISITION OF 20% EQUITY INTEREST IN LIAONING GUANLINGSHAN CULTURAL LANDSCAPE CEMETRY * CONSIDERATION OF ACQUISITION AMOUNTS TO RMB ...
China's banks extended a record 2.9 trillion yuan (330.74 billion pounds) in new yuan loans in January, blowing past expectations and nearly five times the previous month as policymakers aim to sustain solid economic growth while reining in debt risks. While Chinese banks tend to front-load loans early in the year to get higher-quality customers and win market share, the lofty figure was even higher than the most bullish forecast by economists in a Reuters poll. Net new loans surpassed the previous record of 2.51 trillion yuan in January 2016, which is likely to support growth not only in China but may underpin liquidity globally as major Western central banks begin to withdraw stimulus.
Feb 5 (Reuters) - Hua Yuan Property Co Ltd: * SAYS BOARD ELECTS DU FENGCHAO AS CHAIRMAN Source text in Chinese: http://bit.ly/2FLGH6J Further company coverage: (Reporting by Hong Kong newsroom)
China's Leshi Internet said about 5.62 billion yuan (£630 million) of its debts would be due by the end of this year, or almost two-thirds of the company's total loans and liabilities, sending its shares down for a ninth day. This is the first time the video-streaming firm - which is battling the fallout from a severe cash crunch at its founder Jia Yueting's embattled technology conglomerate LeEco - has provided an estimate for its debt in 2018. Earlier, the company had said that a part of its total loans and financial liabilities of 9.29 billion yuan ($1.5 billion)would be due this year, without giving any further details.
Yuan deposits in Hong Kong, the biggest offshore yuan center, stayed virtually unchanged at 559.1 billion yuan ($88.93 billion) in December, the Hong Kong Monetary Authority said on Wednesday. The deposits rose to 559.2 billion yuan in November, its highest level in a year. Hong Kong-dollar deposits also hardly budged during the month, while overall foreign-currency deposits expanded by 1.1 percent.
China's banking regulator said on Saturday that it had fined 12 Chinese lenders after uncovering illegal trading of 7.9 billion yuan ($1.25 billion) of bank bills. The fraud has "severally disrupted market order", and showed the lack of internal controls and poor compliance at the institutions involved, the China Banking Regulatory Commission (CBRC) said in a statement on its website. In its statement, the CBRC did not identify the issuer of the bills and did not say what was illegal about the trading.
China's yuan rose and finished its domestic session on Wednesday at the firmest against the U.S. dollar since November 2015, underpinned by broad weakness in the greenback. A run of dollar weakness has driven gains for the yuan to about 1.9 percent this year. The dollar index, a gauge that measures the greenback's value against a basket of six major currencies, slipped below the 90 threshold for the first time since December 2014.
* Wanda sets 2018 revenue target at 247.9 bln yuan - Chairman Wang * To cut debt via sale of non-core assets & minority stakes * Wanda's total assets fell to 700 bln yuan; 93 pct are domestic (Updates ...
Even as China cracks down on bitcoin trading, eager investors are still finding ways to buy. Here's how they're doing it.
BRUSSELS/MADRID (Reuters) - More central banks in Europe revealed plans on Tuesday to hold yuan as part of their foreign currency reserves, highlighting the Chinese currency's rise into an elite league of the world's major reserve currencies. Responding to Reuters inquiries placed with central banks across the region, Bank of Spain said it was considering an investment in the yuan, the National Bank of Belgium said has already bought around 200 million euros (177.51 million pounds) worth of the Chinese currency and Slovakia said it also bought an undisclosed amount of yuan.
The Bank of France said on Monday it already held some currency reserves in yuan, hours after the German central bank said it was looking to move some of its reserves into the Chinese currency. "Currency reserves remain in their vast majority invested in U.S. dollar, with a diversification towards a limited number of international currencies such as the Chinese renminbi," the bank said in a statement. The yuan leapt to its strongest level in more than two years against the dollar on Monday, buoyed by the Bundesbank's comment.
HONG KONG, Jan 15 (Reuters) - Chinese real estate developer Logan Property Holdings Co Ltd said on Monday it has set its 2018 full-year target for contract sales at 66 billion yuan ($10.2 billion), up ...
SHANGHAI/HONG KONG (Reuters) - China's adjustment to the way it sets the reference rate for its tightly managed currency, suspending a tool for fine-tuning the exchange rate, is a fresh warning to would-be speculators that gives the yuan scope to retreat after a year of heady gains. The decision by the central bank to reduce the effect of a so-called "counter-cyclical" factor, introduced in May to limit market volatility in the yuan's calculation, initially knocked the currency lower when it was reported on Tuesday. The move makes the yuan more open to market forces, which could add downward pressure on the currency in the near-term, a help for the country's export competitiveness.
A Chinese court has sentenced two people to life imprisonment for fraud in a 15.6 billion-yuan (£1.77 billion) pyramid scheme that sucked in more than 200,000 people. The key figures in the scheme, Huang Dingfang and Cai Keyi, were convicted on Monday at the Hangzhou Intermediate People's Court, according to a statement on the court's website (http://hangzhou.zjcourt.cn/).
Just 24 hours after President Trump criticized Pakistan, the South Asian nation seems to be cozying up to China.
SHANGHAI (Reuters) - China's central bank lifted its official yuan midpoint to the highest level in nearly four months to 6.5079 per dollar on Tuesday, reflecting broad dollar weakness and solid spot yuan ...
China's foreign exchange regulator will cap overseas withdrawals using domestic Chinese bank cards at 100,000 yuan ($15,370) per year in an effort to target money laundering, terrorist financing and tax evasion, it said on Saturday. Individuals who exceed the annual quota will be suspended from overseas transactions for the remainder of the year and an additional year, the State Administration of Foreign Exchange (SAFE) said in a notice posted on its website. Under the new rules SAFE will submit a daily list of individuals banned from making overseas bank card withdrawals, and banks must suspend the users by no later than 5 p.m. the same day, the notice said.
The head of a Chinese online financing platform that handled over 50 billion yuan ($7.65 billion)in transactions is under investigation after surrendering himself to authorities, state news agency Xinhua said on Thursday. Police in the eastern city of Nanjing said on their official Twitter-like Weibo account on Wednesday that the legal representative for platform Qbao.com had surrendered himself at a police station on Dec. 26. State news agency Xinhua, which reported the investigation on Thursday, said Qbao.com was a platform that allowed members to make investments that advertised returns of over 40 percent and earn money from watching advertisements.
HONG KONG, Dec 28 (Reuters) - China's yuan regained its position as the sixth most actively used currency for domestic and international payments in November with a market share of 1.75 percent, global ...
Dec 27 (Reuters) - Inner Mongolia Yuan Xing Energy Co Ltd : * SAYS CHEMICAL UNIT TO HALT PRODUCTION FROM DEC 26 FOR ABOUT THREE MONTHS DUE TO SHORTAGE OF NATURAL GAS SUPPLY Source text in Chinese: http://bit.ly/2BG3aR9 ...
Earlier this week, Oil prices rose as U.S. crude stockpiles showed a drawdown larger-than-expected late last week. In addition, Britain’s largest pipeline from its oil and gas fields in the North Sea had an unexpected shutdown for several weeks due to cracks appearing. This pipeline carries about 450,000 barrels per day (bpd) of Forties crude and causing supply constraints as the pipeline is the largest out of the five crude oil streams that underpin the Brent benchmark.
The USDCNH pair formed a triangle pattern on its daily chart for several weeks. All we can do is wait for a breakout to occur. The price is facing the upper line of the pattern now at around 6.6390. A breakout of this trend line could signal resumption of the uptrend from 6.4412.
Bank lending in China hit a fresh record after a much stronger-than-expected surge in credit in November, even as authorities step up efforts to reduce risks in the financial system from a rapid build-up in debt. Chinese banks extended 1.12 trillion yuan ($169.27 billion) in net new yuan loans in November, data from the People's Bank of China showed on Monday, well above analysts' expectations. Analysts polled by Reuters had predicted new yuan loans would rise to 800 billion yuan, from October's 663.2 billion yuan.