China has stepped up criticism of the US dollar hegemony in the face of floods of coronavirus stimulus and potential sanctions, but analysts warn there is no alternative.

Terminals struggle to handle rise in cargo as more cities put on services to Europe and pandemic prompts many shippers to switch from air and sea transport.

Depositors will have to say where they got the money from while withdrawer will have to say what they intend to do with the cash.

Fuhua Clothing Factory is partially closing operations and laying off staff at its Shenzhen factory, which supplied global brands including Adidas, Speedo, Nike and Reebok.

Hong Kong manufacturers with operations in the Greater Bay Area are facing a host of challenges, ranging from burdensome regulations to rising costs, a new report says.

Amid a growing geopolitical rivalry, new economic initiatives from China and the US point to the emergence of a ‘belt and road order’ and ‘liberal international order’.

China is stepping up efforts to internationalise the yuan among Southeast Asian nations under its Belt and Road Initiative, but the currency’s use in global trade is still limited.

China has allowed the yuan to slip to a five-month low against a weighted basket of major currencies as tensions grow with the US.

Analysts say the proposed national security law for Hong Kong could mark the beginning of a process cutting China’s access to US dollars.

Beijing is weighing the risk of US financial sanctions, including being cut off from the dollar payment system, after pushing ahead with the Hong Kong security law.

Official purchasing managers’ indices show China economic activity continued to recover in May at a moderate pace.

Economist Francis Lui Ting-ming says Hong Kong’s trusted financial system has made it invaluable for China and its role will gradually shift to serving mainland firms.

China’s National People’s Congress is set to approve a motion to amend Hong Kong’s Basic Law, the city’s mini-constitution, on Thursday.

Draft resolution for Hong Kong law to proscribe secessionist and other activities in city to be presented as motion to National People’s Congress on Friday, sources say

A new Deutsche Bank survey shows 41 per cent of Americans will not buy ‘Made in China’ products again, while 35 per cent of Chinese will avoid US goods.

Company controlled by tycoon Zhang Ruilin fails to make US$17 million interest payment, with knock-on effects on other loans and bonds.

China’s sovereign digital currency could be launched later this year, with the likes of Alibaba’s Alipay and Tencent’s WeChat Pay already popular payment methods.

Southeast Asia is now China’s largest trading partner, creating an opportunity to enhance the use of the yuan in international transactions and as a reserve currency.

US news reports suggest White House officials have already considered cancelling all or part of the US$1.1 trillion debt owed to China in response to the coronavirus outbreak.

Retail sales fell by almost 16 per cent in March, but the country’s wealthy middle class can help put economy back on track, analysts say.

China relies on oil imports for over 70 per cent of its domestic consumption, but a glut of cheap supply in the global market is creating anxiety in the world’s second largest economy.

Agency in charge of developing China’s digital currency confirms that pilot schemes for the digital yuan have been approved in four cities.

A shortage of US dollars created by increased demand during the coronavirus pandemic threatens Chinese companies’ ability to raise new funds to pay off existing debts.

China’s central bank has stepped up efforts to assure the public handling cash is safe, amid fears contaminated currency may be spreading the coronavirus.

Amid the fallout caused by the coronavirus, China may turn to a similar approach it used in aftermath of the global financial crisis to mange the US dollar-yuan exchange rate.

Central bank data showed on Tuesday that China’s foreign exchange reserves – the world’s largest – fell US$46.085 billion in March to US$3.061 trillion amid market turbulence.

It is critical that policymakers, especially in developing economies, prioritise public health spending in addition to economic support to fight the coronavirus, the WHO and IMF say.

China’s state pension fund was already under pressure from an ageing population, with fears it could run dry by 2035 even before the coronavirus pandemic.

Asian Infrastructure Investment Bank lends Chinese cities of Beijing and Chongqing funds to upgrade local public health facilities.

Zhu Jun from the People’s Bank of China says the risk is small, but the world must be alert to the threat.