The founding of the first renminbi (RMB) clearing bank in the United States and the yuan's imminent formal inclusion in an elite reserve currency basket are the RMB's latest victories on the way to becoming a global currency.
Trade
China's foreign trade remains under considerable pressure as uncertainties mount, the Ministry of Commerce (MOC) said Tuesday, describing the current situation as "complicated and severe."
Companies
-
spics.org.cn, the website of China's official news wire Xinhua News Agency, has got the green light for an IPO on the Shanghai bourse.
-
China's e-commerce powerhouse Taobao has surpassed Tencent to become the nation's most valuable brand, according to a report published Tuesday.
Industry
The merger of China's two major steelmakers, Baosteel Group and Wuhan Iron and Steel Group, has been approved by the State Council.
After months of rapid home-price growth in some Chinese cities, concerns have been raised about the risks this will bring about.
China is considering changes to its mineral deposit classification and reporting rules to bring them in line with international standards and open up its mining sector, government officials have said.
