As many as 3,919 new foreign-invested enterprises were incorporated last month, according to the calculations based on figures from the commerce ministry. Photo: Bloomberg

China paints rosy picture of foreign investment despite Donald Trump’s claim ‘thousands’ of firms are leaving

  • Foreign direct investment (FDI) into China in July rose 4.1 per cent from a year ago to US$8.07 billion, according to China’s Ministry of Commerce
  • US President Donald Trump claims companies are fleeing China because of tariffs imposed by his administration over the last 16 months of the trade war
Topic |   China economy

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As many as 3,919 new foreign-invested enterprises were incorporated last month, according to the calculations based on figures from the commerce ministry. Photo: Bloomberg
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China's central bank set the midpoint exchange rate at 7.0211 on Monday, the third consecutive trading day that Beijing has set a rate weaker than 7 to the US dollar. Photo: AFP

China pledges not to devalue yuan exchange rate after US currency manipulator designation

  • The yuan was allowed to weaken beyond the key threshold of 7 to the US dollar last week for the first time in 11 years, drawing an unexpected response from Washington
  • Foreign exchange administration chief calls currency manipulator decision last week by US President Donald Trump ‘a ridiculous case in global finance history’
Topic |   Currency war

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China's central bank set the midpoint exchange rate at 7.0211 on Monday, the third consecutive trading day that Beijing has set a rate weaker than 7 to the US dollar. Photo: AFP
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