Chinese yuan appreciates in the currency markets

The Chinese yuan climbed to a 19-year high this week on currency speculation in the FX markets.

The financial market bet is that China will step up and come to the aid of slumping domestic macroeconomic growth with a new stimulus program.

Wang Lijun, Bo's buddy, gets 15 years in prison

Cover-up goes wrong for Police Chief Wang

Former Chongqing police chief Wang Lijun, a protege of disgraced Politburo member Bo Xilai, was convicted of cover-up charges related to murder of a British businessman. Wang was sentenced to 15 years in prison from a recent trial that captured international media attention.

China Launches Cyberwar Against Japan

At least 19 Japanese websites, including those of a government ministry, courts and a hospital, have come under cyber attack, apparently from China, police said Wednesday.



Globe and Mail

China's Alibaba reduces Yahoo's ownership

China's Alibaba buys back half of Yahoo's stake

(Reuters) - China's Alibaba Group said it bought back half the stake Yahoo Inc owned in the company for about $7.6 billion, moving closer to an initial public offering.

China’s claim: ‘indisputable’

Water dispute: China’s claim over sea ‘indisputable’ 

 
The Philippines renamed the South China Sea to the West Philippine Sea.

China responded:

“The action of the Philippine side will not change the fact that China enjoys indisputable sovereignty over the islands in the South China Sea including Nansha Islands and Huangyan Island, and their adjacent waters.” --- Hong Lei, spokesman of China’s Ministry of Foreign Affairs

China: Stop Questioning Its Sovereignty Over South China Sea

“China has sovereignty over the islands in the South China Sea and their adjacent waters. There is plentiful historical and jurisprudential evidence for that.”  --- Foreign Minister Yang Jeichi 

Boom goes the dynamite in China

India and China will resume military exercises

India and China will resume military exercises, at the earliest possible date, after a gap of four years.


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BYD delivers mixed results for Warren Buffett

Chinese car and battery manufacturer BYD has not been Warren Buffett’s most successful investment, and another poor earnings report came out on Friday. The company announced that its net profit decreased almost 90% year over year to RMB27 million. The news sent shares down almost 3%, bringing the stock down almost 74% for the last five years.


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