The People's Bank of China, the central bank, said on Monday it had appointed Bank of China, the country's main foreign exchange lender, as the yuan clearing service bank in Paris in the country's latest move to expand the offshore yuan market. The People's Bank of China made the announcement in a statement posted on its website, www.pbc.gov.cn.
The Hong Kong Monetary Authority is setting up a 10 billion yuan ($1.6 billion) repurchase facility to ensure an adequate supply of China's currency as the city's investors gain greater access to Shanghai's stock market.
When Premier Li Keqiang spoke at the World Economic Forum in Tianjin last Wednesday, he probably already had economic data for August, which had not yet been released, in mind. He said the government would not be distracted by short-term fluctuations in individual economic indicators and would maintain its focus on structural adjustments and dealing with long-term issues.
The buildup of China's local government debt is a constant source of worry for China watchers, but it can also be an opportunity for private investors.
Several editors at Shanghai-based business news website 21cbh.com were detained last week for allegedly blackmailing enterprises. According to the police, the case involved a huge amount of money.
Alibaba Group Holding Ltd's high-profile initial public offering on the New York Stock Exchange is just days away, with trading expected to commence on Friday.
The sixth China-UK Economic and Financial Dialogue will strengthen bilateral ties and foster sustained growth of the financial services industry, a leading business leader from the United Kingdom said on Monday.
Australian Trade and Investment Minister Andrew Robb said on Monday that he believes Canberra could reach a free-trade agreement consensus with China by the end of this year and this could benefit both countries widely.
The interest of China's middle class in equine sports is quickly growing as they look for new ways to enjoy their wealth, similar to how they have taken to leisure activities such as golf and sailing.
Horseracing has great potential in China, but crucial changes are needed before the industry can thrive, says Louis Romanet, chairman of the International Federation of Horseracing Authorities.
The earliest origins of modern equestrian sports can be found, in large part, in the bygone age of British chivalry and knighthood.
On a night in May 1979, as China was launching its reform and opening-up drive, a young soldier from Taiwan braved the Taiwan Straits by swimming from the outlying island of Quemoy to the mainland using basketballs as a floatation device.
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