BEIJING/BERLIN (Reuters) – The euro rebounded on Thursday after China reaffirmed its long-term aim of diversifying currency holdings away from the dollar and denied it was reviewing its holdings of euro sovereign bonds.
The People’s Bank of China said in a statement that a Financial Times report that the State Administration of Foreign Exchange (SAFE) was concerned about its exposure to the euro zone debt crisis was groundless.
BEIJING/BERLIN, May 27 (Reuters) – The euro rebounded on
Thursday after China reaffirmed its long-term aim of
diversifying currency holdings away from the dollar and denied
it was reviewing its holdings of euro sovereign bonds.
The People’s Bank of China said in a statement that a
Financial Times report that the State Administration of Foreign
Exchange (SAFE) was concerned about its exposure to the euro
zone debt crisis was groundless. [ID:nBJB003852]
BEIJING (Reuters) – China remains committed to its long-standing goal of diversifying its foreign exchange reserves, a government official said on Thursday, helping to soothe markets unnerved by a report that the country was reviewing its euro-zone bond holdings.
The official, who is familiar with how the government manages its $2.4 trillion of reserves, told Reuters that the direction of diversification “will not change,” when asked about a report that the State Administration of Foreign Exchange (SAFE) was concerned about its exposure to debt troubles in Europe.
BEIJING (Reuters) – Far from being an ultimatum to push China to resume yuan appreciation, talks with the United States that ended on Tuesday instead seem to have given Beijing a green light to maintain its currency peg.
But despite the signs that a long-awaited revaluation is off the table, it would be a mistake to go to the other extreme and conclude that the Chinese exchange rate will remain locked in place ad infinitum.
BEIJING, May 24 (Reuters) – A government researcher denied on Monday a report that quoted him as saying that China will not introduce a controversial property tax within 3 years, which had pushed up real estate stocks by over 5 percent.
After the researcher’s denial, Chinese property shares <.SSEP> gave up some gains but were still up 4.4 percent by 0336 GMT.
WASHINGTON/BEIJING (Reuters) – The world’s largest bilateral trade gap — and how to narrow it — will be the focus of high-level China-U.S. talks in Beijing next week, with export barriers taking center stage and the yuan lurking on the side.
China’s whopping trade surplus with the United States has narrowed over the past year as the global financial crisis has decimated American demand.
BEIJING (Reuters) – If the combination of a Chinese government clampdown on property and global market turmoil seems eerily familiar, it is because Beijing has been here before.
But before investors panic about a replay of late 2008, when the Chinese economy nearly ground to a halt, they should take a second look at its policy environment.
BEIJING (Reuters) – A leading Chinese economic indicator showed that growth may have already peaked in the world’s third-largest economy with the stock market falling on investor worries about the government’s campaign to rein in property prices.
Adding to the impression that China is now facing stronger headwinds, a commerce ministry official said that exporters were feeling the pain of a weaker euro and the trade surplus will narrow sharply this year.
BEIJING (Reuters) – Beijing could have another window of opportunity over the next few days to make its long-awaited move on the yuan, in the wake of strong Chinese data and ahead of a Sino-U.S. summit.
However, leading economists in China were divided about whether any move was indeed imminent and past predictions of “windows” have come to naught, as Beijing has frozen the yuan at about 6.83 to the dollar since mid-2008.
BEIJING/TOKYO (Reuters) – Beware the “Japanese disease,” for its specter haunts China.
Let the yuan rise too quickly — like the yen’s rapid appreciation in the 1980s — and China will hurtle toward the same sort of asset price boom that ended in a bust and a decade of economic malaise for Japan.