China to give US a 250b yuan investment quota for the first time
Move deepens financial ties between countries; Beijing also assures US the yuan will not weaken further
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Beijing
CHINA said it will give the United States a 250 billion yuan (S$52 billion) investment quota for the first time to buy Chinese stocks, bonds and other assets, deepening financial ties and interdependence between the world's two largest economies.
Chinese officials also repeatedly pledged in two days of talks with their US counterparts that they saw no need for sustained weakening of the yuan currency, which many investors fear could shock the already sluggish US and global economies and roil financial markets as happened in January.
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