Meanwhile, local authorities said a tributary of the Dadu – a major river in Sichuan ... with direct losses estimated to be more than 845 billion yuan (US$121.8 billion).

The yuan’s devaluation could drive the narrative of Chinese capital flight into hard assets, which includes Bitcoin (BTC), according to BitMEX founder Arthur Hayes. Bybit’s co-founder and ...

Unless Beijing brings out the big stimulus, weakening the currency is the easiest way to offset Trump’s tariffs.

Among the 11 analysts polled by CNBC, the majority do not see the currency weakening significantly, but rather a gradual depreciation engineered by the PBoC.

saying yuan depreciation tends to bode well for bitcoin. "China will try to lower RMB to counter the tariff, historically, whenever RMB drops, a lot of Chinese capital flow into BTC, bullish for ...

A weaker yuan would make exports cheaper and alleviate some pressure on China's trade and the broader economy, but a sharp decline could fuel unwanted capital outflow pressure and risk financial ...

The decision comes amid encouraging first quarter growth figures, with GDP recording a 5.4% rise year-on-year.

The decision comes amid encouraging first quarter growth figures, with GDP recording a 5.4% rise year-on-year.

However, analysts caution that a significant weakening of the yuan could have ripple effects, including triggering capital outflows, something policymakers are keen to avoid. Indeed, the yuan has ...

There could very soon be a new biggest credit card company in the United States. Capital One (COF) received approval from the Federal Reserve’s Board of Governors and the Office of the ...