Renminbi

Sri Lanka on Tuesday signed a loan agreement with China worth 2 billion Renminbi (USD 308 million) to support its COVID-19 response, economic revival and financial stability, the Chinese embassy said.

Geely Automobile Holdings Ltd said its board has approved a preliminary proposal to list new renminbi shares on mainland China's Nasdaq-like STAR board, sending its Hong Kong-listed shares up as much as 7% on Thursday.

The United States and China traded blows in an unrestrained economic conflict Monday that sent stock markets plunging and threatened to inflict significant damage on a weakening global economy.

The US Treasury Department has removed India from its currency monitoring list of major trading partners. It, however, continued to keep China on its watch list, while urging the Asian nation to take necessary steps to avoid a "persistently weak currency". Renminbi

At present, the company has exceeded 100 billion Renminbi in annual revenue.

China weakened the yuan's fixing almost one per cent to a five-and-half-year low against the dollar on Monday, officials said, the biggest downward move since August as the greenback surge after Britain's vote to leave the European Union.

China's central bank has said there is no basis for "further depreciation" of its currency but asserted that it would continue to pursue market-based exchange rate reform.

The International Monetary Fund on Friday said it would separately identify China's yuan currency in its official foreign exchange reserves database starting October 1, a move prompted by the yuan's new status in the Fund's reserve currency basket.

China will continue to crack down on illegal foreign exchange activities but won't revert back to the "old road" of capital controls, the country's top foreign exchange regulator said.

Currency traders and economists see the change as encouragement to Beijing to make faster progress on promises to make the yuan "freely tradable" and open its financial system.

Dr Rajan said that internationalization of the rupee is a process and "we are taking steps to being a much more open economy."

The IMF on Monday admitted the yuan, also known as the renminbi, into to its SDR basket, where it joins the dollar, euro, pound sterling and yen, in a key step for China's integration into the global financial market.

The move will help pave the way for broader use of the renminbi in trade and finance, securing Chinas standing as a global economic power.

China's national foreign exchange market will introduce direct trading of the Swiss franc, the operator said today, as the country pushes greater international use of its yuan currency.

China's central bank has issued its first offshore renminbi note in London coinciding with President Xi Jinping's high-profile visit to the UK as the world's second largest economy ramps up efforts to popularise its currency.

Sri Lanka on Tuesday signed a loan agreement with China worth 2 billion Renminbi (USD 308 million) to support its COVID-19 response, economic revival and financial stability, the Chinese embassy said.

Geely Automobile Holdings Ltd said its board has approved a preliminary proposal to list new renminbi shares on mainland China's Nasdaq-like STAR board, sending its Hong Kong-listed shares up as much as 7% on Thursday.

The United States and China traded blows in an unrestrained economic conflict Monday that sent stock markets plunging and threatened to inflict significant damage on a weakening global economy.

The US Treasury Department has removed India from its currency monitoring list of major trading partners. It, however, continued to keep China on its watch list, while urging the Asian nation to take necessary steps to avoid a "persistently weak currency". Renminbi

At present, the company has exceeded 100 billion Renminbi in annual revenue.

China weakened the yuan's fixing almost one per cent to a five-and-half-year low against the dollar on Monday, officials said, the biggest downward move since August as the greenback surge after Britain's vote to leave the European Union.

China's central bank has said there is no basis for "further depreciation" of its currency but asserted that it would continue to pursue market-based exchange rate reform.

The International Monetary Fund on Friday said it would separately identify China's yuan currency in its official foreign exchange reserves database starting October 1, a move prompted by the yuan's new status in the Fund's reserve currency basket.

China will continue to crack down on illegal foreign exchange activities but won't revert back to the "old road" of capital controls, the country's top foreign exchange regulator said.

Currency traders and economists see the change as encouragement to Beijing to make faster progress on promises to make the yuan "freely tradable" and open its financial system.

Dr Rajan said that internationalization of the rupee is a process and "we are taking steps to being a much more open economy."

The IMF on Monday admitted the yuan, also known as the renminbi, into to its SDR basket, where it joins the dollar, euro, pound sterling and yen, in a key step for China's integration into the global financial market.

The move will help pave the way for broader use of the renminbi in trade and finance, securing Chinas standing as a global economic power.

China's national foreign exchange market will introduce direct trading of the Swiss franc, the operator said today, as the country pushes greater international use of its yuan currency.

China's central bank has issued its first offshore renminbi note in London coinciding with President Xi Jinping's high-profile visit to the UK as the world's second largest economy ramps up efforts to popularise its currency.