US President Donald Trump last met Chinese counterpart Xi Jinping in Argentina in December. Photo: AFP
China signals currency war truce ahead of Xi Jinping’s meeting with Donald Trump at G20 in Japan
- US president confirms first meeting between the two world leaders since December will take place next week in Osaka
- The People’s Bank of China will sell 30 billion yuan (US$4.3 billion) worth of short terms bonds in Hong Kong next week to facilitate propping up the yuan
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Yuan
US President Donald Trump last met Chinese counterpart Xi Jinping in Argentina in December. Photo: AFP
Anbang Insurance Group bought the Waldorf Astoria hotel in New York for a record US$1.95 billion in 2014. Photo: Reuters
Is China’s concern over a possible US dollar shortage risk forcing companies to sell overseas assets?
- China’s need for US dollars to repay debts, pay for imports and fund Belt and Road initiative projects may exceed its US$3.1 trillion in foreign exchange reserves
- Anbang Insurance Group, Dalian Wanda Group and HNA Group have all been pressured to sell assets amid the trade war with the United States
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Yuan
Anbang Insurance Group bought the Waldorf Astoria hotel in New York for a record US$1.95 billion in 2014. Photo: Reuters