The East China headquarters of Country Garden is being shown in Zhenjiang, Jiangsu Province, China, on October 10, 2023. Nurphoto | Nurphoto | Getty Images Embattled Chinese real estate developer Country Garden may avoid a default on its yuan-denominated bonds after most holders of a local note agreed not to demand repayment this week, according to Bloomberg … Read more
A clerk of ICBC bank counts Chinese 100 yuan at its branch in Beijing. Kim Kyung-Hoon | Reuters BEIJING — Chinese authorities late Tuesday announced one of the biggest changes to the national budget in years, along with the issuance of 1 trillion yuan in ($137 billion) in government bonds. But state media made it … Read more
papa1266/Getty Images India’s government is getting more uncomfortable using China’s yuan to buy Russian oil, sources told Reuters. At least seven oil shipments from Russia have not been paid by India. Settling trade in yuan is more costly, as Indian refiners must first convert their rupees into Hong Kong dollars, and then yuan. India’s government … Read more
HONG KONG, CHINA – JUNE 05: A pedestrian walks by an digital display displaying the numbers for the Cling Seng Index on June 5, 2023 in Hong Kong, China. (Photograph by Chen Yongnuo/China Information Service/VCG by way of Getty Photographs) China Information Service | China Information Service | Getty Photographs Buyers will now be capable … Read more