Chinese savers, eager to convert their yuan before the currency keeps depreciating, are snapping up U.S. dollar investment products that offer options for keeping money at home instead of sending it overseas. The latest wealth management products from China Merchants Bank Co.
Category: China
Gone in 60 Seconds: Chinese Snap Up Dollar Funds as Yuan Tanks
Chinese savers, eager to convert their yuan before the currency keeps depreciating, are snapping up U.S. dollar investment products that offer options for keeping money at home instead of sending it overseas. The latest wealth management products from China Merchants Bank Co.
Chinese city cancels flights in 2nd day of smog alert
A security guard wears a mask during duty in Beijing, China, Saturday, Dec. 17, 2016. China’s capital and other northern cities have banned half of all vehicles from city streets and ordered factories, schools and construction sites closed in … A woman adjusts her mask before walking outdoors in Beijing, China, Saturday, Dec. 17, 2016.
Wanxiang Gets China Electric Vehicle Permit to Make Karma Cars
Wangxiang Group, the owner of Karma Automotive, became the second auto-parts maker to receive permission from the nation’s top economic planner to produce electric cars under a special scheme to encourage companies outside auto manufacturing to develop new-energy vehicles. Founded by Chinese billionaire Lu Guanqiu, Wanxiang Group got approval from the National Development and Reform Commission to invest in facilities to manufacture extended-range electric vehicles with annual capacity of 50,000 units, according to a notice on the agency’s website on Friday.