BEIJING, March 23 (Xinhua) — The central parity rate of the Chinese currency renminbi, or the yuan, strengthened 33 basis points to 6.8856 against the U.S. dollar Thursday, according to the China Foreign Exchange Trade System. In China’s spot foreign exchange market, the yuan is allowed to rise or fall by 2 percent from the […]

KUALA LUMPUR, March 23 (NsNewsWire) — China’s e-commerce giant Alibaba group on Wednesday announced a plan to set up an e-commerce hub in Malaysia encompassing logistics, cloud-computing and e-financial service to boost trade and e-commerce in the region. The e-commerce hub will be part of the collaboration between Alibaba and the Malaysian government in the […]

TIANJIN, March 22 (NsNewsWire) — The booming bike-sharing industry has had a polarizing effect on Chinese bicycle manufacturers, with big companies going full steam to churn out millions of bikes every month, and smaller firms dying due to a lack of orders. At factories of Flying Pigeon, a bike maker in Tianjin Municipality, production lines […]

LONDON, March 22 (NsNewsWire) — Britain’s consumer price index (CPI), a main gauge of inflation, jumped higher than expectations to 2.3 percent in February, while a fall in public sector borrowing figures will be a bonus for the government as it enters a possibly turbulent period of negotiating Brexit. The CPI figure from the official […]

TOKYO, March 21 (Xinhua) — The U.S. dollar changed hands in the mid-112 yen zone in early deals in Tokyo on Tuesday, largely in line with levels seen overnight in New York. At 9 a.m., the dollar was quoted at 112.57-58 yen compared with 112.50-60 yen in New York. The euro, meanwhile, fetched 1.0737-0737 dollars […]

BEIJING, March 21 (NsNewsWire) — A slower but more sustainable Chinese economy will be good for China and better for the rest of the world. The world economy has been in a low-growth trap for five years, as persistent growth shortfalls have weighed on future output expectations while widening productivity gaps contributed to rising inequality, […]

TOKYO, March 21 (Xinhua) — Tokyo stocks lost ground Tuesday morning as Wall Street’s losses created a weak tone, while a firm yen against the U.S. dollar dented investor sentiment and sent exporters lower. The 225-issue Nikkei Stock Average dropped 51.97 points, or 0.27 percent, from Friday to 19,469.62. The broader Topix index of all […]

HANOI, March 20 (Xinhua) — Honda Vietnam is recalling 1,355 cars to repair and replace air bag inflators of several models, according to Vietnam Competition Authority (VCA) under the Ministry of Industry and Trade on Monday. Specifically, cars in models of Honda Civic, Honda CR-V, and Honda Accord manufactured in 2012 are applicable for the […]

BEIJING, March 20 (NsNewsWire) — Vice Premier Zhang Gaoli said Sunday that China should increase supply-side structural reform to stimulate growth and improve market vitality. He made the remarks at the opening ceremony of China Development Forum 2017 (CDF) in Beijing, reports Xinhua. Zhang highlighted the basic tone of “seeking progress while maintaining stability” and […]