Economic Watch: Resilience and risks of Chinese economy in transformation

Resilience and risks of Chinese economy in transformation

A year ago, economic forecasters at home and abroad bet on the sharp depreciation of the renminbi, or the yuan, in 2017 due to a flagging economy and U.S. rate hikes. But the Chinese currency roaring back in past months has proven them wrong.

Finance

2 years after reform, yuan advances on stable expectations

2 years after reform, yuan advances on stable expectations

Two years after China changed its "central parity system" to let the market play a bigger role in exchange rate formation, China's currency stands tall against the U.S. dollar with stabilized market expectations.

Trade

Companies

China Focus: Alipay, Wechat roll out cashless campaign

China Focus: Alipay, Wechat roll out cashless campaign

Alipay and Wechat Pay, two major third-party mobile payment tools in China, will run campaigns in August to bring more merchants and customers into the cashless world.

Xiaomi overtakes Apple to lead wearable band market

Xiaomi overtakes Apple to lead wearable band market

Xiaomi overtook Apple in the global wearable band market in Q2, according to an industry analyst.

Alibaba enters China's housing rental market

Alibaba enters China's housing rental market

Chinese tech giant Alibaba has signed an agreement with its home city government to use the company's technology to create an online system for house rentals.

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