The yuan’s appreciation may not necessarily lead to a loss in foreign exchange reserves, a top official with the State Administration of Foreign Exchange said Saturday
China is shifting their asset purchases from U.S. debt to other instruments denominated in currencies, more likely the euro.
China boosted its holdings of U.S. Treasury debt by 7.6 billion U.S. dollars in April, the first increase after five months' decline
Worries are mounting on China’s weakening yuan as some hedge funds began betting against the world’s second-largest economy
Full article in Chinese: http://www.caijing.com.cn/2011-06-15/110746878.html
Some Chinese banks, including big state-backed ones, have seen negative growth in their deposits amid the recent tightening.
Full article in Chinese: http://www.caijing.com.cn/2011-06-14/110745769.html
CPI in China rose to a 34-month high in May with pork prices the major culprit;June CPI may exceed 6 percent.
The growth of M2, the broad measure of money supply, was 15.1 percent year on year by the end of May while the monetary tightening would persist.
M2 grew 15.1 percent from the same period of last year in May and Chinese banks extended 551.6 billion yuan in loans.
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