73 m. ago Videos show Israeli settlers attacking Palestinian olive harvesters in West Bank

Israeli settlers descended on Palestinian olive harvesters and activists this week in the Israeli-occupied West Bank, beating them with clubs in an attack Palestinian health officials said sent at least one woman to the hospital with serious injuries. The attack on Sunday in the town of Turmus Ayya, which was captured in videos obtained by Associated Press, came as Palestinians say settler violence in the region is worsening. The United Nations and rights groups have raised the alarm as harvest...

Politics

25 h. ago China shop clerk breaks jade bangles worth US$140,000; owner seeks no compensation

A shop clerk in eastern China accidentally broke jade bangles valued at over one million yuan (US$140,000), yet the owner chose compassion over compensation, giving the young man a chance to learn from his mistake. The incident, which occurred in October at a jewellery shop in Suzhou, Jiangsu province, was captured on surveillance video. While moving a table, the clerk accidentally knocked over a box of jade bangles, resulting in a loud crash. He attempted to gather the pieces but squatted in...

Economics

29 h. ago At China’s Canton Fair, exporters sense a warming trend in yuan settlements

At the ongoing autumn edition of the Canton Fair in Guangzhou – China’s oldest and largest trade exhibition – Chinese exporters are noticing a quietly spreading shift: an increasing number of overseas clients, particularly from emerging markets such as Southeast Asia, Central Asia and Africa, are proactively proposing to settle trade orders in yuan. Wang Lilin, sales director at diesel generator manufacturer Keypower, said the company had seen a clear rise in yuan settlements over the past two...

Events

45 h. ago Ethiopia in Talks With China to Convert Dollar Loans Into Yuan

Ethiopia in Talks With China to Convert Dollar Loans Into Yuan  Bloomberg

Politics

5 d. ago Iron ore the new pawn in global geopolitics as China pushes yuan payments

Iron ore the new pawn in global geopolitics as China pushes yuan payments  Fastmarkets

Politics

5 d. ago China’s PBOC Vows Steps to Promote Use of Yuan Around the World

China’s PBOC Vows Steps to Promote Use of Yuan Around the World  Bloomberg.com

Politics

5 d. ago China has a new 500 billion yuan ‘financial instrument’. How will it be used?

China’s top economic planner, the National Development and Reform Commission (NDRC), confirmed last month that Beijing was setting up a new “policy-based financial instrument” worth 500 billion yuan (US$70 billion). The special financing tool was first proposed in April – when trade tensions between China and the United States were rapidly escalating – to provide an extra injection of funding to accelerate domestic innovation and support the economy. It has the potential to drive trillions of...

Economics

6 d. ago China’s central bank sets yuan at highest rate against US dollar in a year

China’s central bank has set the yuan’s daily reference rate against the US dollar at the strongest level in a year, as expectations grow that the US Federal Reserve will cut rates again this month. On Thursday, the People’s Bank of China (PBOC) set the yuan’s midpoint rate – also known as the daily fixing rate – at 7.0968 per US dollar, its strongest since October last year. Two days earlier, US Federal Reserve Chairman Jerome Powell said that America’s labour market and inflation outlooks were...

Economics

8 d. ago Yuan boost eyed as Hong Kong’s mainland China spending hits HK$5 billion

Hong Kong’s government spent more than HK$5 billion (US$642.3 million) using the city’s currency on services or purchases related to mainland China in the last financial year, according to officials. In comparison, the government only used 240 million yuan (US$33.7 million) annually to settle expenditures, in addition to payments related to its renminbi-denominated bonds. Authorities are now exploring ways to increase payments in renminbi and expand its use. “Since the amount of renminbi bonds...

Economics

9 d. ago Dubai Neighbor Sharjah Seeks Debut Yuan Loan as China Ties Grow

Dubai Neighbor Sharjah Seeks Debut Yuan Loan as China Ties Grow  Bloomberg.com

Politics

1 week ago Singapore singer praised for anonymous US$1.4 million donation to China’s deprived

Singaporean singer Stefanie Sun Yanzi has donated more than 10 million yuan (US$1.4 million) to a charity fund in China over the past decade, winning admiration on social media. Top Chinese diva Han Hong revealed that the Lion City singer was behind the previously anonymous donations while introducing Sun as a guest at Han’s Beijing concert on October 7, the Xiaoxiang Morning Herald reported. Han established the Beijing Han Hong Love Charity Foundation in 2012. It mainly engages in medical,...

Economics

1 week ago Why Kenya’s swap of dollar loans for Chinese yuan offers more than debt relief

Kenya has converted its US dollar-denominated railway loans from China into the Chinese yuan, not only securing debt relief but also fitting into Beijing’s long-term goal of internationalising its currency. Analysts said the decision, announced by Kenya last week, paved the way for other debt-stressed African countries and could ultimately draw them closer to China. Kenyan Treasury Minister John Mbadi said on Tuesday that the country’s US$5 billion Chinese railway loans had been converted to...

Politics

1 week ago China woman cancels nuptials, demands US$4,200 ‘hug fee’, claims emotional distress

A woman in central China who accepted a betrothal gift of 200,000 yuan (US$28,000) and later regretted the engagement agreed to return the money. However, her already shocked husband-to-be was then doubly taken aback when the woman asked him to deduct 30,000 yuan (US$4,200) as a “hugging fee”, triggering a public backlash against her. The incident, reported by Henan TV, has attracted 23 million views on mainland social media. It is a common practice in China that the groom’s family pays an...

Politics

2 w. ago Kenya converts $3.5 billion loans from China into yuan to cut interest

Kenya converts $3.5 billion loans from China into yuan to cut interest  Reuters

Economics

2 w. ago Kenya converts $3.5 bln dollar loans from China into yuan to cut interest

Kenya converts $3.5 bln dollar loans from China into yuan to cut interest  Reuters

Politics

2 w. ago Kenya converts railway loan from China into yuan to save on interest

Kenya converts railway loan from China into yuan to save on interest  Reuters

Politics

2 w. ago China's National Day holiday box office exceeds 1.6 billion yuan

China's National Day holiday box office exceeds 1.6 billion yuan  China Daily - Global Edition

Politics

2 w. ago China sets aside US$28 million for southern provinces hit by Typhoon Matmo

China set aside 200 million yuan (US$28 million) in recovery aid for Guangdong and Hainan provinces as Typhoon Matmo made landfall on Sunday afternoon. Earlier on Sunday, authorities in Guangdong relocated more than 150,000 residents and Hainan suspended rail services across the island during peak holiday travel season. By late Sunday afternoon, transport in Haikou, Hainan’s capital, was gradually resuming. The National Meteorological Centre on Sunday morning said Matmo had strengthened into a...

Economics

2 w. ago BRICS slams Trump tariffs as China’s yuan stablecoin expands

BRICS slams Trump tariffs as China’s yuan stablecoin expands  CoinGeek

Politics

3 w. ago Beijing taps Conflux Network to explore offshore yuan stablecoins

Conflux Network, which claims to be the only regulatory-compliant public blockchain operator in mainland China, has been allowed to experiment with offshore yuan stablecoins as Beijing seeks to secure a position in the new global financial order, according to its founder. Conflux had received a tacit green light from Chinese authorities to explore the development of offshore yuan stablecoins, and was aiming to have up to 300 million yuan (US$42.1 million) worth of tokens issued on its blockchain...

Politics