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BEIJING, Jul 05, 2009 (Xinhua via COMTEX) -- -- The Bank of China (BOC), China's largest foreign exchange bank, will transact the first cross-border yuan trade settlement deal Monday, a source with the bank said Sunday night. The BOC Shanghai branch would receive the first cross-border yuan trade settlement deal from the BOC (Hong Kong) Monday, the unidentified source said. The payee would be Shanghai Electric International Economic and Trading Co., Ltd. under Shanghai Electric Group Co., Ltd. and the remitter would be the company's business partner in Hong Kong. China last week issued detailed measures to regulate the pilot program for cross-border trade settled in yuan. The rules specified how to make transactions using Renminbi (RMB) to settle trade with Hong Kong and Macao and regional trade partners. "The service has... [read full story]
A young Chinese boy clings to a new Honda at a temporary show room set up at the Auto Beijing car expo in Beijing, China, Saturday, Nov. 21, 2009. Honda Motor Co. set record production in Asia and China in October for the...
Gifts for Family & Friends Living in the People's Republic of China At present-giving time it's difficult to know what to give someone who lives far away. Prices are low in most of China, so it doesn't make sense to pay to send...
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HONG KONG (MarketWatch) -- Hong Kong stocks slumped more than 5% in late afternoon trading Friday as investors sold down shares across the board, with HSBC Holdings and Standard Chartered taking heavy losses on worries about...
