beijing Archive

China forex reserves in record fall as Beijing tries to calm markets

China’s foreign exchange reserves posted their biggest monthly fall on record in August, reflecting Beijing’s attempts to halt a slide in the yuan and stabilize financial markets following its surprise move to devalue the currency last month. China’s reserves, the world’s largest, fell by $93.9 billion last month to $3.557 trillion, central bank data showed [&hellip

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Panasonic to shut battery factory in Beijing, cut 1,300 jobs

Japanese electronics giant Panasonic Corp on Thursday said it will stop making lithium-ion batteries at its factory in Beijing this month, cutting 1,300 jobs as part of a move to focus on higher-margin products such as electric car batteries. The 15-year-old plant produces batteries for simple mobile phones and digital cameras, both of which are [&hellip

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China stocks plummet again as Beijing sits on sidelines

Chinese stocks tumbled again on Tuesday, despite a rebound in markets elsewhere in Asia, as investors despaired at the lack of policy action from Beijing in response to recent data suggesting the downturn in the world’s second-largest economy is deepening. Major Chinese stock indexes nosedived more than 7 percent, hitting their lowest levels since December, [&hellip

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