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Tag Archives: trade

China to further cut reliance on trade

China Trade

CHINA’S reliance on trade may decrease further as the country turns toward domestic consumption to drive the economy, the top customs authority said yesterday. The total value of imports and exports accounted for 47 percent of China’s gross domestic product in 2012, a sharp fall from a record 67 percent in 2006 and 50 percent in 2011, the General Administration ... Read More »

Asian banks keep financing trade

trade finance

Asian banks are providing an increasing chunk of trade finance in the region as European banks pull back due to the eurozone crisis and new bank regulations. The push by Asian institutions into the market, suggests that trade finance – estimated at $10tn a year globally and supporting more than 80 per cent of global trade – remains available in ... Read More »

Asia stocks fall, China trade highlights slowdown

Asian Markets stocks

(03-12) 03:41 PDT LONDON, United Kingdom (AP) – Markets were steady Monday ahead of a meeting of European finance ministers that is expected to pave the way for a second massive bailout for Greece that will prevent the debt-ridden country’s imminent bankruptcy. Ministers from the 17 countries that use the euro are meeting later and Greece will again be at ... Read More »

China expands cross-border settlement in yuan to all exporters

yuan

BEIJING, March 2 (Xinhua) — China’s central bank said Friday that all companies qualified for foreign trade activities can conduct cross-border export settlement in yuan. The People’s Bank of China said in a statement on its website that China expanded cross-border trade settlement in yuan to cover all goods exporters in order to “meet market demand and make foreign trade ... Read More »

Commodity and EMG currencies rebound overnight

emg markets

- Commodity- and EMG currencies saw a nice rebound overnight, after they have been mainly under pressure. Also equity markets in Asia rallied towards the end of their session. Oil continued to drift lower from the 11 months high hit last Friday. EURUSD has digested S+P’s EFSF outlook revision and another Greece downgrade well. - Stocks: Nikkei +0.92 %, Hang ... Read More »