A year ago, economic forecasters at home and abroad bet on the sharp depreciation of the renminbi, or the yuan, in 2017 due to a flagging economy and U.S. rate hikes. But the Chinese currency roaring back in past months has proven them wrong.
Two years after China changed its "central parity system" to let the market play a bigger role in exchange rate formation, China's currency stands tall against the U.S. dollar with stabilized market expectations.
Doing anything unilateral against China on trade issues is expected to hurt both and produce no winner for the Trump administration.more
China is concerned about the EU's anti-dumping probe against Chinese tire products and urges the EU to use trade remedy measures discreetly.more
Alipay and Wechat Pay, two major third-party mobile payment tools in China, will run campaigns in August to bring more merchants and customers into the cashless world.
Xiaomi overtook Apple in the global wearable band market in Q2, according to an industry analyst.
Chinese tech giant Alibaba has signed an agreement with its home city government to use the company's technology to create an online system for house rentals.