Zhao Qingming News
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China’s sovereign wealth fund said it will invest with a longer-term focus after it posted a 4.3 percent loss on its overseas holdings last year because of declines in global commodity prices.
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China’s yuan strengthened beyond 6.5 per dollar for the first time since 1993, supported by speculation the central bank will allow appreciation to help tame the fastest inflation in more than two years.
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Yu Zudong rides an orange truck rattling down Xiaoqinling mountain in central China, past a landscape pockmarked with gold caves and the garbage-strewn tent homes of workers.
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China’s yuan declined the most in almost two months as the central bank set the reference rate weaker for the first time in three days after the dollar rebounded against the euro and the yen.
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Russia, the first country to offer direct trading of yuan outside of China, plans to extend dealing hours as increased exports spur demand for the currency.
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Russia, the first country to offer direct trading of yuan outside of China, plans to extend dealing hours as increased exports spur demand for the currency.
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China’s yuan climbed, reversing earlier losses, on speculation Ireland’s 85 billion euro ($113 billion) aid package will boost the outlook for global economic growth.
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China will cut domestic financial institutions’ short-term overseas borrowing quotas from April 1, signaling it’s stepping up efforts to curb hot money inflows attracted by yuan appreciation.
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China Investment Corp., the nation’s sovereign-wealth fund, agreed to contribute $1 billion to a Russian private-equity vehicle, the first foreign commitment to a project championed by President Dmitry Medvedev.
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Yuan forwards declined on speculation appreciation pressure will ease after China’s commerce ministry said the country’s trade surplus will narrow.
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