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.... The authorities did not specify whether the data belonged to Chinese or foreign Apple users. Of the 22 suspects, 20 were employees of companies who worked with Apple, who allegedly used internal systems to gather users’ names, phone numbers, Apple IDs and other personal data, which was then sold as part of a scam worth more than 50m yuan (£5. ... [Read full article on Guardian ]
Friday 9th of June 2017 01:09:28 PM
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.... In an effort to clean up the air and reduce emissions, the government plans to spend 2. 5tn yuan (£280bn) on renewables by 2020, an investment that is projected to create 13m jobs in China. ... [Read full article on Guardian ]
Friday 2nd of June 2017 07:45:18 AM
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Latest Finance News related to Yuan

Criminal gang arrested for selling Apple users' private data in China image
.... The authorities did not specify whether the data belonged to Chinese or foreign Apple users. Of the 22 suspects, 20 were employees of companies who worked with Apple, who allegedly used internal systems to gather users’ names, phone numbers, Apple IDs and other personal data, which was then sold as part of a scam worth more than 50m yuan (£5. ...
China sees an opportunity to lead as Trump withdraws from Paris. But will it? image
.... In an effort to clean up the air and reduce emissions, the government plans to spend 2. 5tn yuan (£280bn) on renewables by 2020, an investment that is projected to create 13m jobs in China. ...
China invests $124bn in Belt and Road global trade project image
Source : BBC [Read Article] Sunday 14th of May 2017 07:55:39 AM
....The plan, which aims to expand trade links between Asia, Africa, Europe and beyond, was first unveiled in 2013. Part of the massive funding boost, which is aimed at strengthening China's links with its trading partners, includes 60bn yuan ($9bn; £7bn) in aid to developing countries and international institutions that form part of the Belt and Road project. ...
Avocado prices at record high due to reduced harvests image
Source : BBC [Read Article] Monday 1st of May 2017 07:51:12 AM
....Avocado exports from Latin America to China are growing by about 250% a year, according to the Financial Times. Chinese conglomerate Shenzhen Kondarl is also buying Australia's biggest avocado farm Primary Growth for up to 1bn yuan ($146m) to meet the burgeoning demand. ...
Trump launches investigation into steel dumping image
Source : BBC [Read Article] Friday 21st of April 2017 07:41:27 AM
....Earlier in April, he said his administration would not label China a currency manipulator, rowing back on a campaign promise. Mr Trump had previously accused China of suppressing the yuan to make its exports more competitive against American goods. ...
Donald Trump: China 'not a currency manipulator' image
Source : BBC [Read Article] Wednesday 12th of April 2017 10:59:49 PM
....He made the comments days after meeting China's President Xi Jinping. China has been accused of suppressing the yuan to make its exports more competitive with US goods. ...
Meet the millennials making big money riding China's bitcoin wave image
Source : Guardian [Read Article] Tuesday 11th of April 2017 06:00:21 AM
.... Now, though, his main focus is bitcoin, which is “much younger, more fun, and much more money”. Yang claims to make up to 1m yuan (£116,000) a month, under the radar of the taxman, purely from trading the online cryptocurrency. ...
Huawei defeats Samsung in patent battle in China image
Source : BBC [Read Article] Thursday 6th of April 2017 11:22:55 AM
....The Chinese smartphone-maker Huawei has won a patent victory over its South Korean rival Samsung. A Chinese court in Quanzhou has ordered the Galaxy S8-maker to pay 80m yuan ($11. ...
Andy Warhol portrait of Mao goes on auction in Hong Kong image
Source : BBC [Read Article] Friday 17th of March 2017 05:33:27 AM
.... They are thought to make up one fifth of the world's buyers of art. Downward pressure on the yuan and caps on capital outflows are only adding to the appetite for investing on the global art scene. ...
Wanda's deal for Golden Globe firm collapses image
Source : BBC [Read Article] Monday 13th of March 2017 02:28:41 PM
....Last year, the Chinese government put in place tougher restrictions to stop the outflow of money from the country. It is concerned about the softening in the value of the yuan, a slowdown in growth and what it called "irrational investments". ...
Demand for gold hits four-year high after Brexit and Trump votes image
Source : Guardian [Read Article] Friday 3rd of February 2017 07:14:45 AM
.... Alistair Hewitt, head of market intelligence at the World Gold Council, pointed to the shock Brexit vote and the election of Trump as US president, along with the upcoming Dutch, French and German elections. The weaker yuan and low or negative interest rates also made gold more attractive, helping push up investment demand by 70%. ...
Xi Jinping signals China will champion free trade if Trump builds barriers image
Source : Guardian [Read Article] Tuesday 17th of January 2017 03:50:06 PM
....Xi sought to counter fears that the US and China were heading for a currency or trade war. Beijing would keep its doors open and would not seek to drive down the value of its currency, the yuan. ...
China crackdown sends Bitcoin sliding image
Source : BBC [Read Article] Thursday 12th of January 2017 01:04:34 AM
....The move comes as Beijing's tries to crack down on money flowing out of the country illegally. The weakening yuan has prompted many people to try to buy foreign currencies. ...
Pen power: China closer to ballpoint success image
Source : BBC [Read Article] Tuesday 10th of January 2017 08:16:27 AM
.... And it has struggled to shape its pen tips accurately. Without that ability, China's 3,000 penmakers have had to import this crucial component from abroad, costing the industry a reported 120m yuan ($17. ...
CES 2017: Nokia Android phone spurns the West image
Source : BBC [Read Article] Sunday 8th of January 2017 08:27:14 AM
....0 - the latest version, also known as Nougat - and features:. The specifications are mid-range, and so is the price: 1,699 yuan ($245; £200). ...
China to invest £292bn into renewable fuel by 2020 image
Source : Guardian [Read Article] Thursday 5th of January 2017 08:27:57 AM
....China will plough 2. 5tn yuan (£292bn) into renewable power generation by 2020, the country’s energy agency has said, as the world’s largest energy market continues to shift away from dirty coal power towards cleaner fuels. ...
Alibaba cracks down on counterfeiters on their platform image
Source : BBC [Read Article] Thursday 5th of January 2017 01:16:26 AM
....The lawsuit against two unnamed vendors claims 1. 4 million yuan ($201,671, £163,419) in damages, the company said. ...
Bitcoin tops $1,000 for first time in three years as 2017 trading begins image
....The nascent digital currency, which has been criticised as a vehicle for a range of nefarious characters from drug dealers to tax evaders to operate, outperformed all its central-bank-issued counterparts with a 125% climb in value in 2016. Market watchers have suggested that the soaring value may have been boosted in the past year by increased demand in China on the back of a 7% fall in the value of the yuan; this was the Chinese currency’s weakest annual performance in more than 20 years. ...
China to rein in outward investment as domestic growth stalls image
Source : Guardian [Read Article] Monday 26th of December 2016 03:54:56 PM
....Beijing has signalled plans to curb Chinese firms’ investment in foreign assets, after revealing that companies from China are on course to spend 1. 12 trillion yuan (£130bn) on everything from British football clubs to a Hollywood film producer in 2016. ...
Value of bitcoins in circulation hits record high of $14bn image
Source : Guardian [Read Article] Thursday 22nd of December 2016 04:27:03 PM
....The price of one bitcoin reached $875 on the Europe-based Bitstamp exchange, its strongest level since January 2014, putting the cryptocurrency on track for its best daily performance in six months. That compared with levels around $435 at the start of the year, with many experts linking bitcoin’s rise with the steady depreciation of the Chinese yuan, which has slid almost 7% in 2016. ...
Drawing inspiration image
Source : BBC [Read Article] Monday 19th of December 2016 04:32:48 AM
....With 200 million young consumers, the youth entertainment market is expanding fast. According to the Chinese investment bank CITIC securities, the market is set to double to 500bn yuan ($76bn; £60. ...
US dollar surges to 14-year high as Fed hints at three rate hikes in 2017 image
Source : Guardian [Read Article] Thursday 15th of December 2016 06:08:33 AM
....com/bZWg5XjNB6. China’s yuan fell to its weakest level against the dollar in more than eight years as it crept higher towards the seven yuan to one dollar mark. ...
Housing worries image
Source : BBC [Read Article] Thursday 15th of December 2016 12:28:11 AM
...."Prices are unreasonably high now. At this development, the average price should be 2,000 yuan ($289; £228) a square metre but it's actually 10 times that. ...
Could Trump's chest-thumping over China trigger a trade war? image
Source : Guardian [Read Article] Saturday 10th of December 2016 10:00:11 AM
....Allegations of Chinese currency manipulation are out of date and largely incorrect, according to Pei. In fact, Beijing has been burning through its currency reserves in an attempt to prop up the value of the yuan. ...
Trump attacks China in Twitter outburst image
Source : BBC [Read Article] Monday 5th of December 2016 11:31:52 AM
....A spokesperson declined to comment on "he and his team's method and what's the thinking behind it", referring to Mr Trump. The US has previously criticised China's yuan devaluation, saying it unfairly favours Chinese exporters. ...
Shenzhen-Hong Kong trading scheme kicks off image
Source : BBC [Read Article] Monday 5th of December 2016 12:59:36 AM
....It allowed international investors to trade in 568 Shanghai-listed A shares, and 315 Hong Kong stocks. Hong Kong has benefited from the Stock Connect scheme as mainland investors look to buy overseas assets to counter the weakening Chinese yuan. ...
China introduces 10% extra tax on 'super cars' image
Source : BBC [Read Article] Thursday 1st of December 2016 03:37:58 AM
....The tax, affecting cars that cost more than 1. 3m yuan ($189,000; £151,024), is aimed at curbing lavish spending and reducing emissions, authorities said. ...
China's property frenzy and surging debt raises red flag for economy image
Source : Guardian [Read Article] Sunday 27th of November 2016 06:52:01 AM
....China’s total debt – including housing, financial and government sector debt – hit 168. 48 trillion yuan ($25 trillion) at the end of last year, equivalent to 249% of national GDP, according to estimates by the Chinese Academy of Social Sciences, a top government think tank. ...
Last of big spenders: UK Black Friday to be final hurrah before prices rise image
Source : Guardian [Read Article] Thursday 24th of November 2016 06:00:25 AM
.... We’re lucky because we are very big and those discussions are often quite productive. “All our products are made outside the UK and denominated in dollars or Chinese yuan. ...
Skyscanner sold to China's Ctrip in £1.4bn deal image
Source : Guardian [Read Article] Thursday 24th of November 2016 05:04:39 AM
....Nasdaq-listed Ctrip, partly owned by the Chinese search company Baidu, provides online booking for airline and railway tickets as well as hotels and describes itself as China’s largest travel company. It generated more than 350bn yuan (£41bn) of online sales in 2015, according to the company website. ...
China's LingLong launches DingDong smart home speaker image
Source : BBC [Read Article] Thursday 24th of November 2016 04:40:09 AM
....Beijing LingLong is owned by Chinese online retailer JD. com - which is selling the DingDong for 698 yuan ($100, £81). ...
Brexit blues: weak pound pushes up guitar prices image
Source : Guardian [Read Article] Sunday 20th of November 2016 04:55:32 PM
....The pound has lost almost a fifth of its value against the dollar since the referendum on 23 June. Sterling has also tumbled against the euro and the Chinese yuan, pushing up prices of budget models made in China. ...
Turmoil ahead? image
Source : BBC [Read Article] Thursday 17th of November 2016 11:51:13 AM
....This has already had an impact on the value of the Turkish lira, which was in a bad way even before the US election, because the country's political crackdown had led to capital flight. And Mr Trump could also fuel currency wars by formally accusing China of manipulating the value of the yuan and keeping it artificially low, as he has previously alleged. ...
Singles’ Day: Chinese to splurge $20bn in world's biggest shopping event image
Source : Guardian [Read Article] Friday 11th of November 2016 06:22:12 AM
....Chinese consumers were expected to spend $20bn in the Singles’ Day shopping splurge that claims to be the world’s biggest shopping event. In less than seven minutes after midnight on Friday, Chinese e-commerce giant Alibaba said 10bn yuan (US$1. ...
Singles Day: Alibaba breaks record sales total image
Source : BBC [Read Article] Friday 11th of November 2016 01:29:54 AM
....E-commerce giant Alibaba has beaten its sales record for its annual Singles Day event. The company said sales this year had reached 121bn yuan ($18bn; £14bn), a rise of 32% on last year's sales which were worth $14. ...
Stock markets can shrug at Trump's arrival – but not for long image
Source : Guardian [Read Article] Wednesday 9th of November 2016 06:51:54 PM
.... Risks are everywhere. Even a watered-down version of the promised trade tariffs would bring huge uncertainties, not least the possibility of sharp devaluation in the Chinese yuan, a prospect that was supposedly terrifying for financial markets at the start of the year. ...
Why the markets are relatively calm after Donald Trump's election image
Source : Guardian [Read Article] Wednesday 9th of November 2016 01:45:01 PM
.... Risks are everywhere. Even a watered-down version of the promised trade tariffs would bring huge uncertainties, not least the possibility of sharp devaluation in the Chinese yuan, a prospect that was supposedly terrifying for financial markets at the start of the year. ...
Great drive forward image
Source : BBC [Read Article] Tuesday 8th of November 2016 12:12:57 AM
....". Indeed only last week sport was included in a restructuring of Alibaba's digital entertainment assets, part of a new division which will have a 10bn yuan (£1. ...
Smelting pot image
Source : BBC [Read Article] Wednesday 26th of October 2016 11:27:01 PM
....That's a controversial claim. The yuan has declined against the dollar this year - but that is at least in part due to the dollar's growing strength. ...
Sales of luxury London properties collapsed by 86% in past year image
Source : Guardian [Read Article] Monday 17th of October 2016 12:43:40 PM
....Sterling’s 20% devaluation since the EU referendum may bring foreign buyers back into the luxury London market. According to Juwai, which claims to be the biggest international property website for Chinese investors, inquiries were up 12% in August to a record high as the yuan-rich scout around for bargain buys in London. ...
Louis Vuitton handbags 'cheapest in London' after Brexit vote image
Source : BBC [Read Article] Wednesday 12th of October 2016 03:16:25 PM
....That compared to €760 ($850) in Paris and $970 in New York. In China the bag cost 7,450 yuan, or $1,115. ...
Wanda steps up rivalry against Disney in China with second park image
Source : BBC [Read Article] Monday 26th of September 2016 06:08:18 AM
.... . On Saturday, the company welcomed the first visitors to the new 34bn yuan ($5. ...
China merger to create world's second largest steel firm image
Source : BBC [Read Article] Tuesday 20th of September 2016 11:00:52 AM
.... . Baosteel's net profit tumbled 83% to 1bn yuan ($150m) last year, while Wuhan lost 7. ...
Beijing and Shanghai ban electric scooters and segways on roads image
Source : BBC [Read Article] Wednesday 31st of August 2016 06:35:54 AM
....China's two biggest cities have banned the use of electric scooters and segways on public roads because of safety concerns. Beijing and Shanghai traffic authorities this week started issuing verbal warnings and fines of 10 yuan ($1. ...
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Chinese beer giant Tsingtao hit by slowing economy image
Source : BBC [Read Article] Wednesday 31st of August 2016 01:40:59 AM
....In the six months to June, net income fell by 11% from a year earlier to 1. 07bn yuan (£123m; $160m), its weakest first-half profit since 2012. ...
China launches own aircraft engine-maker to rival the West image
Source : BBC [Read Article] Monday 29th of August 2016 08:46:52 AM
....The state-owned Aero-Engine Group of China was created by combining a group of existing aircraft-engine companies, according to local media reports. It has about 50bn yuan ($7. ...
Tencent overtakes Alibaba as China's biggest tech company image
Source : BBC [Read Article] Thursday 18th of August 2016 09:56:44 AM
....The internet giant said profit rose by 47% to 10. 9bn yuan ($1. ...
Shenzhen-Hong Kong stock tie up approved by government image
Source : BBC [Read Article] Wednesday 17th of August 2016 01:23:08 AM
....". Hong Kong is the world's second-busiest bourse and has benefited from the Stock Connect scheme as mainland investors look to buy overseas assets to counter the weakening Chinese yuan currency. ...
Alibaba shows strong global growth image
Source : BBC [Read Article] Thursday 11th of August 2016 03:53:41 PM
....Its latest results show international sales increased by 123% to 1. 1bn yuan ($165m, £127m) between April and June. ...

Expectant father given painful hemorrhoid operation after mix-up while awaiting birth of child in Chinese hospital
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....”. Mr Wang was reportedly offered 5,000 yuan (£580) compensation by the hospital because of the mix up, which happened on Monday. ...

China’s straddling bus hits wall of criticism and doubt
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Source : Telegraph [Read Article] Tuesday 9th of August 2016 12:09:11 PM
....A total of 1,000 were planned to be assembled every year at the company’s Zhekou base, the China Daily said on Tuesday, citing a contract with local officials. The project included an investment of 10 billion yuan ($1. ...

Rio 2016: Chinese fury over 'flawed' flag on display at Olympics
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Source : Telegraph [Read Article] Monday 8th of August 2016 08:34:59 AM
....China has vented its fury after subtle mistakes were noticed in its national flag on display at the Olympics, with media, sports officials and the country’s diplomats seeking answers to the apparent mix-up. “I am not nit-picking because of obsessive compulsive disorder, but this is the national flag,” said Cui Yongyuan, a Chinese television presenter. ...

China's rejected wives turn to expensive 'mistress dispeller' services to help get their husbands back
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....More commonly, the companies will send in undercover female counsellors to build up a friendship with the mistress before subtly encouraging them to end their relationship with the married man. Complex mistress dispelling – which often involves the counsellors renting rooms near the apartments of the mistress as they build up trust with their ‘target’, discovering their habits, likes and dislikes – can cost up to one million yuan (£114,000). ...
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China sentences activist in first trial of lawyer crackdown
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Source : Telegraph [Read Article] Tuesday 2nd of August 2016 11:21:57 AM
....Zhai’s three-year sentence is the minimum allowed for those convicted of subversion, which carries a maximum sentence of life in prison. “He has the right to appeal but I expect he will give it up,”well-known  rights lawyer Liu Xiaoyuan told The Telegraph. ...
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Six die at China elderly home which ‘banned air conditioning’ during heatwave
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...."I haven’t had a remote control until now, and the one I am currently using I borrowed from someone else,” said one, according to the media outlet, which is run by the official Xinhua news agency. Before the deaths, the care home was reported to have 138 residents, with 115 receiving 8,000 yuan (£911) grants from the local government to pay their annual fees, while another 23 elderly people paid 800 yuan (£91) a month of their own money towards care. ...

China to investigate damage caused to the Great Wall as a third of site reduced to rubble  
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....Poor villagers in Lulong county in the northern province of Hebei used to knock thick grey bricks from a section of wall in their village to build homes. Fines of 5,000 yuan are handed out for taking Great Wall bricks, state media had previously reported. ...
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South Korean officials barred from China beer festival amid missile row
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Source : Telegraph [Read Article] Wednesday 27th of July 2016 03:09:22 PM
....Qingdao held its 25th annual beer festival last year, which attracted 10 million visitors, generating more than 1. 31 billion yuan (£129 million) for the local economy. ...
Huawei sees revenues surge in the first half of 2016 image
Source : BBC [Read Article] Monday 25th of July 2016 02:02:18 AM
....The firm reported 245. 5bn yuan ($37bn, £28bn) in revenues, up from 175. ...

Floods kill 78 across China, 91 missing, 400,000 evacuated
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Source : Telegraph [Read Article] Saturday 23rd of July 2016 05:22:12 AM
....More than 1. 5 million hectares of crops have been damaged, leading to direct economic losses of more than 20 billion yuan (£2. ...
China's aviation expansion ambitions image
Source : BBC [Read Article] Tuesday 12th of July 2016 09:18:14 AM
.... . China wants to increase earnings from aircraft building tenfold, to one trillion yuan (£115bn; $150bn) a year. ...

World faces deflation shock as China devalues yuan at accelerating pace
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Source : Telegraph [Read Article] Thursday 7th of July 2016 06:40:29 PM
...
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Overseas buyers 'keen to exploit weak pound to buy London homes' image
Source : Guardian [Read Article] Wednesday 6th of July 2016 11:01:27 PM
....28 before recovering slightly, but it remains at levels not seen since 1985. The fall in the value of the pound meant that a buyer converting their money from the Chinese yuan was on Tuesday able to buy a £1m property for £112,245 less than before the vote, Cleverly said. ...
Brexit: Asian leaders ready stimulus packages after Britain's vote to leave EU image
....44bn), with Brexit turmoil as well as domestic risks seen as weighing on its decision-making. The Chinese premier, Li Keqiang, said on Tuesday that the government would not allow “rollercoaster rides and drastic changes in the capital markets” in the wake of Brexit turmoil that took the yuan to five and a half year lows. ...
Chinese whispers image
Source : BBC [Read Article] Monday 27th of June 2016 12:09:19 PM
....Some Chinese may benefit in the short term. With the value of the pound dropping, tourists might find it cheaper to travel to Britain for a while, but the problem is that the general uncertainty about the post-Brexit global economy is also driving down the yuan. ...
Japan shares recover after Friday's post-Brexit bout image
Source : BBC [Read Article] Monday 27th of June 2016 05:16:06 AM
....Over the weekend, China's Finance Minister Lou Jiwei said the consequences of the UK leaving the EU were still unclear, but that they would be felt for years to come. The country's central bank weakened the yuan fix by 0. ...
Five threats to American prosperity tie the hands of its banker-in-chief image
....A rise in US interest rates would encourage international investors to buy US assets, and to do this they’d need to exchange their own currency for dollars, increasing the demand for and price of the US currency. A higher dollar would only increase the gap with the euro and the yen and force the Chinese to devalue the yuan, further loosening its ties to the dollar. ...
George Soros warns Britain leaving could be end of EU image
Source : Guardian [Read Article] Thursday 9th of June 2016 04:50:27 PM
....Soros said he was confident that support for Britain to remain in the EU would rise in the two weeks remaining before the vote, but in any case there was a good chance the EU will collapse due to the migration crisis and challenges in Greece. Related: China accuses George Soros of 'declaring war' on yuan. ...
Excess capacity in Chinese economy distorting world markets, says Jack Lew image
....But he said that the US Treasury did not designate China as a currency manipulator in its most recent currency report because its most recent currency intervention had not been one-sided. China’s currency interventions, once an irritant in the relationship between the world’s two largest economies, has become relatively low profile since China allowed the yuan to rise in recent years in line with market forces and pledged to refrain from competitive devaluations. ...
Chinese pour $110bn into US real estate, says study image
Source : Guardian [Read Article] Monday 16th of May 2016 02:36:33 AM
....Related: Super-rich may quit London homes under new anti-corruption rules. Since last year, there has also been the motivation to get money outside China and into dollar assets amid worry about the continued fall in the yuan, which was devalued slightly against the US dollar in August. ...
Gold demand soars 21% in strongest first quarter on record image
Source : Guardian [Read Article] Thursday 12th of May 2016 08:59:27 AM
....Demand surged 21% between January and March, as negative interest rates in Japan and Europe, which have led to rock-bottom savings rates, slower global growth and stock market turbulence drove investors to bullion, seen as the ultimate safe haven. The WGC’s report [pdf] noted that China’s devaluation of the yuan had fuelled fears over the country’s economic health and the impact on the global economy, and that the pace of US interest rate rises was widely expected to slow. ...
Chinese economy: exports fall by 2% and imports by 11% in April image
Source : Guardian [Read Article] Sunday 8th of May 2016 05:51:18 AM
.... As a result, the country’s trade surplus rose to about $46bn. The bureau earlier gave figures in terms of China’s yuan currency, which showed a modest rise in exports in April. ...

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