New Peak of Inflation in China

New Peak of Inflation in China

According to figures released Saturday, another record for China’s inflation has been set. The consumer prices index rose to 6.4% year on year in June, a new peak over the last three years. This is well above 5.5% in the previous month, and it is also more than 6.2% anticipated by economists. The prices soared […]

China and Venezuela Approved 6 billion Dollars to Bilateral Fund

China and Venezuela Approved 6 billion Dollars to Bilateral Fund

Venezuela and China adopted 6,000 million dollars together for the China-Venezuela Bilateral Development Fund, created to finance projects in the country of Bolivar. President Hugo Chavez annouced that Venezuela has approved the transfer of 2,000 million from the National Development Fund to the bilateral fund, while China provided 4 billion for the same purposes. More […]

China’s Central Bank is Not Ready to Set Inflation Target

China’s Central Bank is Not Ready to Set Inflation Target

The governor of China’s central bank, Zhou Xiaochuan, said on Friday that the monetary policy of China has intended to support economic growth and control inflation. Speaking at a forum in Beijing, the governor said that China was not ready to adopt an inflation target in proper form for its monetary policy. “In China, we […]

Local Governments in China May Have More Debt Than They Say

Local Governments in China May Have More Debt Than They Say

The rating agency Moody’s believes that the level of debt of local governments in China is 30% higher than the suggested figure in an official report published last week. It warns of the potential risk of default on some debts, and the placement of the Chinese banking system under a negative outlook. The rating agency […]

China’s Yuan Accessible to Foreigners

China began allowing foreign companies to use the yuan to invest in the country, according to a document from the Chinese central bank Wednesday quoted by the press and should promote the internationalization of the Chinese currency. Foreign investors can use the yuan to fund the settlements, mergers and acquisitions, capital increases or lend money […]

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