Rejecting mounting US calls to allow the yuan to rise more quickly, Zhong said changing the exchange rate was not the way to fix a huge bilateral trade gap, and that it could upset the global economy.
The competitive devaluation of the Yuan and the non-tariff barriers imposed by China on the services and pharmaceutical sectors have badly hit the Indian economy. However, New Delhi might not directly push for the appreciation of the Chinese currency given the extremely high level of Indian imports as it would lead to an increase in the prices of domestic goods and services, sources said.
The high-speed rail service linking Shanghai and Nanjing, one of China's most developed economic zones was opened to passengers on Thursday.
Obama met Wen on the sidelines of the United Nations General Assembly and held talks for a good two hours on a wide range of issues including the recent spat between China and Japan over their claims on the South China Sea.
At Davos on Thursday, all eyes were on China's vice-premier Li Keqiang, tipped to become the next Chinese prime minister.
Seeking to cement its close defence ties with Islamabad, China today agreed to provide four trainer aircraft and US $ 9 million to Pakistan to train its armed forces. The two countries signed agreements to implement decisions made during a meeting between Defence Minister Chaudhry Ahmad Mukhtar and his Chinese counterpart General Liang Guangile in Islamabad.
China on Monday assured the United States to reform its currency exchange regime but gave no timetable to address the key irritant in their bilateral ties.
Credit cards debt 180 days past the due repayment date stood at 7.92 billion yuan ($1.19 billion) by the end of the third quarter, up 8.5 per cent from the second quarter, the People's Bank of China said.
In a sparkling show, Sudha Singh fetched India's second gold medal in track and field events and fifth overall by winning the 3000m Steeplechase event with her personal-best timing in Guangzhou on Sunday.
India's campaign in table tennis competitions in the Asian Games came to a disappointing end on Thursday with star paddler Achanta Sharath Kamal and Anthony Amalraj bowing out in the pre-quarterfinals of the men's singles event at the Guangzhou Gymnasium.
Depreciating the rupee against the dollar to boost economic growth has fiscal constraints and monetary limitations
Equity markets across the world made handsome gains after China announced plans to make its currency, the yuan, more flexible against the dollar. China on Saturday said it would allow its currency to appreciate against the US dollar.
He based his optimism on hedging tools available.
China's exports surged by 48. 5 per cent year on year in May, triggering eculation that the much awaited reform of its currency Yuan against the US dollar is round the corner.
It moved in a range of 66.9250 and 66.70 per dollar during the day
Shanghai-based writer Wang Shen, who uses the pseudonym Mian Mian, alleged her copyright on the book, Acid Lover (Yansuan Qingren), was infringed and required a public apology from Google, as well as 61,000 yuan ($8,900) in compensation.
Huang, also known as Wong Kwong-yu, was convicted by the Beijing No 2 Intermediate People's Court with also ordered confiscation worth 200 million yuan of his assets.
Spot gold was substantially higher at USD 1,117.40 an ounce in early European trade.
A Chinese man and his wife are set to become the country's wealthiest couple after their pharmaceutical firm's initial public offering garnered the highest ever share price in China's history, propelling the value of their stake to $6.24 billion.
The 26-year-old man is looking for some 1,500 Internet users to invest in an apartment, and the owner will be chosen on the basis of a lucky draw, reports the China Daily.
China's Shandong Luneng sent former captain Jiao Zhe to the reserve team, suspended his salary and fined him 30,000 yuan ($4,400) for beating up a team-mate after a Chinese Super League (CSL) game last weekend.
'The killings are a worrisome escalation of tensions, but little is known about the immediate causes or results of the fight in Galwan and it is not possible, at this point, to assign blame'
More than 4,000 people have been arrested worldwide and more than $13 million seized across Asia in operations targeting illegal gambling during the Euro 2016 football tournament, Interpol said on Monday.
This budget-friendly smartphone can also compete with Google Pixel 2!
India's Sania Mirza overcame a fighting Meng Yuan in a three-setter to earn a shot at singles title of the US$ 50,000 ITF Challenger event in Lexington, United States. The second seed Indian beat sixth seed Chinese 6-1, 4-6, 6-4 in the semi-final of the hard court event.
India will pay China over Rs 82 lakh annually for crucial flood data of the Brahmaputra to improve flood forecasting even as the two sides agreed to allow their water experts to conduct study tours on both sides of the river which originates in Tibet.
Sentiment very bullish for 2017; prices could touch all-time peak of $1,161 soon and may double from present levels by the end of the year. Rajesh Bhayani reports.
China's Ministry of Finance said on Friday that it will sell 30-year book-entry treasury bonds worth 28 billion yuan ($4.1 billion) next week.
The bonds will likely be simultaneously launched in major financial centres such as London, Singapore, Hong Kong, New York for a term of no less than 20 years.
The financial and commodity markets will continue to roil, as China's growth moderates and readjustments are made.
Reacting to market specific developments, the domestic unit touched a low of 66.74 in intra-day trade before concluding at 66.65.
Ashish Narsale/Rediff.com tells you what you need to know
Banking shares saw a renewed buying interest on the hopes of a rate-cut by the central bank post the easing of macro-economic data.
Formula One supremo Bernie Ecclestone is confident the Chinese Grand Prix will remain after 2010 but continued losses for the city of Shanghai make the future of the event less than certain.
Indian industry put forth its demands for cut down on income and corporate tax rates in a pre-budget consulatation meet.
In a country like India, where religion has deep roots, it is important for the party to make the stand clear on religion. It is not a question you can shy away from. The party should be open for a debate and then publicly announce a renewed stand, says Marxist MP Abdullakutty
Some analysts argue that Beijing has been too cautious in lowering rates and freeing up cash in the banking system, keeping real interest rates too high given low returns on investment.
Last year, the country's defence budget was $175 billion.
Quenching his thirst while on duty proved costly for Chongqing Lifan goalkeeper Sui Weijie.
