China Briefing News

RMB Depreciates Against U.S. Dollar By Record Amount in May

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By Sofia Liska Jun. 8 – China’s renminbi (RMB) dropped 0.9 percent against the U.S. dollar in May, more than in any other month since the Chinese government first started letting the RMB appreciate in 2005. A weaker RMB makes Chinese exports more appealing to those importing Chinese goods, but raises the price of foreign […]

China Takes Further Steps Towards Internationalizing the Renminbi

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By Xiaolei Gu Mar. 14 – The China Development Bank (CDB) has taken the initiative to bring out an agreement among the BRICS nations by pledging to extend credit in renminbi (RMB) to the group’s four other members, according to a report by the Financial Times. To this effect, a memorandum of understanding is scheduled […]

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