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Yuan

China’s love affair with the dollar – Al Jazeera English

Despite the internationalisation of the yuan, the US dollar remains China’s currency of choice. When former Chinese Politburo member Zhou Yongkang was arrested in 2014 on corruption charges, the scale of his ill-gotten gains was astounding, totalling some $16bn. When sums that large are involved most of the assets have …

Rich Chinese look abroad to preserve wealth

BEIJING (AP) — China’s richest people are stepping up investment in U.S. real estate and other foreign assets as they try to preserve their fortunes in the face of a fast-changing economy, a report said Tuesday. The report by China Merchants Bank and the consulting firm Bain & Co. in …