China

Dollar hits new low on back of Chinese comments

Sterling and the euro reached record highs against the dollar on Wednesday after a senior Chinese official said the government should diversify its foreign exchange reserves by swapping dollars for stronger currencies.

China fights back over G7 currency criticisms

Wu Xiaoling, the deputy governor of the People's Bank of China, said the country's current policy on the appreciation of the renminbi was a responsible one despite claims to the contrary by the world's leading finance ministers.

China's agency "buys" Central Huijin

"We have bought Central Huijin for $67 billion," Lou Jiwei, the chairman of China Investment Corp, the country's investment agency, told reporters on the sidelines of the 17th Communist Party Congress, the nation's key meeting which is held every five…

The rise of SWFs is unstoppable

Western governments must accept the rise of sovereign wealth funds as a further sign of a shift in the world economy, according to Gerard Lyons, the chief economist at Standard Chartered, a bank.

China likely to replace Zhou

Zhou Xiaochuan, the governor of the People's Bank of China, is set to lose his job as part of a wide-ranging reshuffle, the details of which will be announced at next week's party congress.

Currency rise wanted by EU chiefs

Jean-Claude Trichet, the president of the European Central Bank; Jean-Claude Juncker, the prime minister of Luxembourg; and Joaquin Almunia, the European commissioner for monetary affairs said on Monday that they wanted the renminbi, the dollar, and the…

Turmoil will impact exchange rates - IMF's Kato

The re-pricing of risk taking place as a result of the credit crunch will lead to a rebalancing of currencies and growth in the near future, according to Takatoshi Kato, the deputy managing director of the International Monetary Fund (IMF).

Strauss-Kahn and Tosovsky vie for top IMF job

Dominique Strauss-Kahn, the former French finance minister, and Josef Tosovsky, the head of the Financial Stability Institute, are the only two candidates for the top job at the International Monetary Fund (IMF).

China to pursue private equity, despite losses

Jesse Wang, vice chairman of the People's Bank of China's investment arm Central Huijin, defended the central bank's investment in Blackstone and said he would continue to recommend investment in private equity funds.

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