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U.S. lawmakers were quoted as saying that they had been assured from China to let its currency continue rising against the dollar.



Unless entitlements are substantially reformed, the U.S. will likely default on its debt; not in conventional ways, but via inflation, currency devaluation and low to negative real interest rates.

China Banking Regulatory Commission has set capital targets for the nation’s five biggest lenders above the minimum 11.5 percent ratio amid concern that credit risks may rise.

Foreign exchange reserves of 1 trillion U.S. dollars would be enough for China, says central bank governor Xia Bin.

China’s foreign reserves, the world’s largest, have become excessive, and would flood the market with liquidity and add pressures to government’s sterilization.

The new hike in banks' deposit reserve ratio is estimated to freeze up to 375 billion yuan of capital in banks.

The growth of China’s trade with other four members of BRICK, namely Brazil, India, Russia and South Africa, has outpaced that of overall foreign trade in the first quarter this year.

China’s economy grew 9.7 percent in the first quarter of 2011 from a year earlier, while consumer prices hit a 32-month-high of 5.4 percent in March, government data shows today.

Edible oil producers would be in more difficult straits if price controls persist.

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