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China, US say committed to managing differences

Last Updated: Wednesday, July 09, 2014, 18:29

China and the United States need to manage their differences, the leaders of both countries said on Wednesday at the start of annual talks expected to focus on cyber-security, maritime disputes, the Chinese currency and an investment treaty.

Crack down on Chinese currency manipulation: Senators to Obama

Last Updated: Wednesday, June 11, 2014, 11:03

Ahead of the US-China Strategic and Economic Dialogue, two top American Senators have asked President Barack Obama to take immediate and necessary actions to crack down on currency manipulation. In order to protect American jobs and ensure the competitiveness of US manufacturers, Senators Sherrod Brown and Jeff Sessions called for the Administration to support the Currency Exchange Rate Oversight Reform Act.

Top Chinese banks post impressive profits

Last Updated: Thursday, August 29, 2013, 21:55

The Industrial and Commercial Bank of China (ICBC), the country's largest lender, posted a profit of 138.5 billion yuan (USD 22.3 billion), registering a year-on-year increase of 12.4 percent.

Currency 'very close' to equilibrium, says China

Last Updated: Wednesday, March 06, 2013, 13:11

"The value of RMB yuan is very close to its equilibrium," Yi Gang, deputy governor of the People's Bank of China, the central bank, told media here on Wednesday.

Not designating China a currency manipulator: US

Last Updated: Wednesday, November 28, 2012, 09:41

Chinese currency still remains significantly undervalued but the steps taken by the country to reduce intervention in exchange markets and the recent appreciation of reminibi means that it cannot be designated as a currency manipulator, the US has said.

More foreign companies using yuan

Last Updated: Tuesday, November 13, 2012, 13:19

The number of foreign companies using the yuan as their currency of choice has surged after rules introduced this year allowed yuan settlements for Chinese traders.

'Obama letting China get away with unfair trade practices'

Last Updated: Thursday, August 30, 2012, 09:23

Top Republican leaders have accused President Barack Obama of letting China go scot free with its currency manipulation and unfair trade practices, which is hurting the United States.

China's yuan drops against US dollar

Last Updated: Thursday, March 08, 2012, 23:33

The Chinese yuan weakened 22 basis points to 6.3235 against the US dollar Thursday, according to the China Foreign Exchange Trading System.

China lowers US T-bonds to expand cross border trade in Yuan

Last Updated: Saturday, March 03, 2012, 12:27

China, the largest holder of US treasury bonds, has cut its American debt holding by USD 8.2 billion amid moves by its central bank to rapidly expanding the Yuan-denominated cross-border trade to promote the use of the Chinese currency in foreign trade.

China's Forex reserves likely to decline this year: Report

Last Updated: Wednesday, February 15, 2012, 00:20

China's foreign reserves rose by USD 384.8 billion last year, the lowest in the past five years.

Chinese currency at 18-year high

Last Updated: Saturday, February 11, 2012, 12:43

Chinese currency yuan rose to an 18-year-high on Friday, as its Vice-President Xi Jinping, expected to take over as President next year, geared up for a trip to the United States next week.

China to cut reserve requirement further next year: Official

Last Updated: Sunday, December 25, 2011, 17:55

China will slash reserve requirements further next year to pump liquidity into the country's banking system, a senior economist said on Sunday.