Yuan
China’s Human Horizons seeks up to 300 million yuan in debt financing to revive EV production
CHINESE electric vehicle maker Human Horizons is seeking debt financing of up to 300 million yuan (S$55.4 million) to resume production at its EV plant, as the parent firm...
PBOC eases support for yuan as short covering fuels rebound
THE People’s Bank of China (PBOC) pulled back its daily support for the yuan to the lowest in a year on Wednesday (Aug 7), at least by one measure.The...
Xiaomi buys 842 million yuan site in Beijing to expand EV production
CHINESE tech company Xiaomi has purchased a plot of land in Beijing for 842 million yuan (S$156 million) to expand electric vehicle (EV) production following the early success of...
PBOC could mull letting yuan go without huge crash, survey shows
CHINA could let its tight grip on the yuan go without triggering a sustained market disruption, according to the majority of respondents in a Bloomberg survey of analysts and...
China’s financial elite face 2.9 million yuan pay caps, bonus clawbacks
THE era of big paychecks for Chinese financiers is fast coming to an end as some of the industry’s biggest companies impose strict new limits to comply with President...
Cash is leaving China again, pressuring yuan
A SLIDING yuan and extensive outflows of cash from the mainland into Hong Kong show China’s domestic investors are shelving expectations for any immediate recovery in their home markets...
China loosens grip on yuan with weakest fixing since November
CHINA set the yuan’s daily reference rate at its weakest since November in a sign policymakers are loosening their grip on the currency.The People’s Bank of China (PBOC) set...
Fintech giant Ant Group spends record 21.2 billion yuan on research
ANT Group spent a record 21.2 billion yuan (S$4 billion) on research last year as the fintech giant increased its investment in technology including artificial intelligence. The affiliate of...
