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China has the largest foreign exchange reserves in the world. According to the People’s Bank of China, in June their volume increased by $18.23 billion compared to May, reaching $3 trillion 119.23 billion. This is the highest figure since April last year. Experts have tentatively estimated the country's reserves at $3 trillion 103 billion. Due to the depreciation of the dollar and the rising cost of government bonds, the growth of foreign exchange reserves in the PRC was observed for two months in a row. The dollar index last month fell by 1.62%, and the yuan against the dollar fell by only 0.49%. Thus, in June, there was no need to use the reserves of the Central Bank of China. The Chinese Central Bank increased its gold reserves to 61.94 million troy ounces. Following the results of the 7th consecutive month, the volume of purchases of this precious metal grew.
On Friday, the Chinese technology company ByteDance said that it would consider listing its domestic businesses in Hong Kong or Shanghai due to rising Sino-U.S. tensions. The company's standalone listing in Hong Kong or Shanghai might value ...
China’s industrial firms had seen an increase in profits for two consecutive months. This came as the most rapid pace ever recorded in over a year, suggesting that the country’s recuperation from the novel coronavirus pandemic ...
Oil prices fell on Monday as a surge in coronavirus cases and the escalating U.S.-China tensions prompted a safe-haven bid. Brent crude slid 0.2%, or 8 cents, at $43.26 per barrel. U.S. West Texas Intermediate crude fell 0.2%, or 7 cents, ...
The dollar was under pressure on Monday as the escalating U.S.-China tensions weighed on the market, while investors worried that the U.S. coronavirus resurgence could stall economic recovery. The dollar fell to a four-month low on the yen ...
Oil prices rose on Friday as the dollar dropped to a near two-year low, but demand worries amid rising coronavirus cases and the worsening U.S.-China tensions capped gains. Brent crude gained 0.4%, or 15 cents, at $43.46 per barrel. U.S. West ...
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