China's forex reserves up in April
Beijing
CHINA'S foreign exchange reserves rose in April for a third straight month, beating market expectations, as capital controls and a pause in the US dollar's rally helped staunch capital outflows.
The April rise is reassuring news for policymakers after the yuan steadied as US President Donald Trump backed away from labelling China a currency manipulator, saying the dollar was "getting too strong" and would eventually hurt the US economy.
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Companies & Markets
Meituan to debut in Riyadh as expansion beyond China quickens
Mapletree Industrial Trust to distribute S$13 million of divestment gains over next 4 quarters
K-pop agency Hybe’s internal strife wipes out 1.2 trillion won
Beijing city to subsidise domestic AI chips, targets self-reliance by 2027
Hong Kong bourse regains favour on hopes of a market revival
Chinese sellers go to TikTok school to reach buyers abroad