China's banks are bursting with dollars, and that's a worry
Boosted by surging export receipts and investment flows, the value of foreign cash deposits in China's banks leapt above $1 trillion for the first time in April.
China’s much-hyped digital yuan leaves early users underwhelmed
Observers suspect China has high hopes for international use of the digital yuan as Xi Jinping tries to lessen his country’s reliance on the U.S.-led global financial system.
With digital yuan trials, Beijing looks to claw back data from Alipay and WeChat
"Big data is wealth. Whoever owns data thrives," said a banking official tasked with promoting the digital yuan.
U.S. eyes potential threat from China’s digital yuan
Some officials are concerned China's moves could kick off a long-term bid to topple the dollar as the world’s dominant reserve currency.
China’s rapid recovery puts U.S. dollar's global hegemony in doubt
The U.S.’s struggle to control the coronavirus and revive its economy contrasts sharply with the Asian nation, where growth has roared back.
Japan prepares for digital currency, in line with China and others
But the Bank of Japan is likely to take some years to decide whether to officially issue its digital currency, as are other major central banks.
China acts to slow yuan’s rapid ascent without halting its rise
Economic recovery, a yield premium in sovereign debt over Treasuries and the prospect of a Democrat victory in the U.S. presidential vote are all boosting the currency.
U.S. to lift China currency manipulator tag ahead of trade deal
Washington's abrupt declaration Monday that China is no longer a currency cheat — two days before the signing of a trade deal with Beijing — shows how U.S. President Donald Trump has turned a routine technical report on foreign exchange into a political cudgel. "It's ...
Specter of funding crunch looms over runs at China's small banks
Bundles of yuan notes were stacked high behind the counters of branches of Yingkou Coastal Bank earlier this month, as the northeast China lender fought off a run on deposits while on-site government officials battled rumors of a funding crunch. Yingkou was the latest small ...
China fuels fears of currency war by setting weak yuan target rate
The Chinese central bank on Thursday set the yuan reference rate weaker than 7 to the U.S. dollar for the first time in 11 years and three months, deepening fears that the ongoing China-U.S. trade war will escalate into a currency conflict. The People's Bank ...
Trump shrugs off trade war concerns as China warns of market chaos
U.S. President Donald Trump on Tuesday dismissed concerns over a protracted trade war with China, as Beijing warned that Washington's decision to label it a currency manipulator would lead to chaos in financial markets. Trump, who announced last week he would slap a 10 percent ...
