China’s yuan fell to the weakest level since November after a series of disappointing economic figures added to concern about the nation’s sputtering growth. The offshore yuan dropped as much as 0.5% Monday to 7.2927 per dollar. The currency has now tumbled about 5% this year, the worst performer in Asia after the yen. “People’s … Read more
Beijing: China moved to limit the drop in the yuan by cutting the amount of money that banks need to have in reserve for their foreign currency holdings. The move came after the yuan dropped to the lowest level against the dollar in 17 months in reaction to a small but growing Covid-19 outbreak in … Read more
SHANGHAI: China’s central bank said on Saturday it will further expand a pilot scheme of its digital currency to more areas, including cities in the eastern Zhejiang province which is set to host the Asian Games later this year. The People’s Bank of China (PBOC) said it will promote the research and development of the … Read more
Without making big national headlines, China’s Gland Pharma launched the biggest initial public offering (IPO) of shares in Indian pharmaceutical history of Rs 6,500 crore in November. This was oversubscribed more than twice, despite calls for boycotting everything Chinese after the Ladakh clash last summer when 20 Indian soldiers died. Gland Pharma’s issue price was … Read more