Beijing: The central parity rate of the Chinese currency, the renminbi (yuan) weakened by 137 basis points to 6.5169 against the US dollar on Tuesday, according to the China Foreign Exchange Trading System.
The yuan hit its lowest level in more than four years in both onshore and offshore trade on Monday, as bad news about the country’s manufacturing activity unnerved investors, Xinhua reported.
The Caixin General China Manufacturing Purchasing Managers’ Index (PMI), an indicator of manufacturing activity, edged down to 48.2 in December from November’s 48.6 percent. The reading was the lowest since September.
A reading above 50 indicates expansion while a reading below 50 represents contraction.
The yuan has largely been trending down since China’s central bank revamped its foreign exchange mechanism last August to make the currency more market-based.
The yuan has been losing ground as the Chinese economy hit its slowest pace in a quarter century due to outstanding issues such as housing overhang and excess capacity.
Meanwhile, the US raised its interest rates in December and more hikes are expected in 2016.
The PBOC said in August that there is no basis for steady depreciation of the yuan. (IANS), (image courtesy: fortunedotcom.files.wordpress.com)
Beijing, October 21, 2017 : As US Secretary of State Rex Tillerson prepares to visit India next week, China on Saturday warned that it will be deeply offended if any foreign leader meets with or any country invites the Dalai Lama.
On the sidelines of the 19th National Congress of the Communist Party of China, a Chinese Minister dubbed the Tibetan spiritual leader as a “political figure under the cloak of religion”.
“Any country or any organisation or anyone accepting to meet with the Dalai Lama in our view is a major offence to the sentiment of the Chinese people,” said Zhang Yijiong, Executive Vice Minister of the United Front Work Department of the ruling Communist Party of China (CPC).
“Also, since they have committed to recognising China as a sole legitimate government representing China, it contravenes their attempt, because it is a serious commitment,” Zhang added.
China accuses the Dalai Lama of stoking unrest and secessionist activities in Tibet from where the spiritual leader fled to India in 1959 after a failed uprising.
The Dalai Lama has urged for more autonomy for Tibet.
Beijing opposes any country or leader keeping in touch with the Dalai Lama.
“I want to make it clear that the 14th Dalai Lama, the living Buddha handed down by history is a political figure under the cloak of religion,” said Zhang.
In February this year, Tillerson had told members of the Senate Foreign Relations Committee during his confirmation hearing that he is committed to promoting dialogue on Tibet and receiving the Dalai Lama.
Top US Democrat Nancy Pelosi had visited the Dalai Lama in Dharamsala, India, in May, and sought to draw the world’s attention to human rights in Tibet, triggering protests by China.
China resorts to different tactics if any country hosts the Dalai Lama. For instance, Beijing blocked a major highway leading to Mongolia, crippling the economy there after Ulan Bator hosted the leader late last year.
Mongolia later apologised and promised Beijing never to invite the Dalai Lama.
“Officials, in their capacity as officials, attending all foreign-related activities represent their governments. So I hope governments around the world speak and act with caution and give full consideration to their friendship with China and their respect for China’s sovereignty,” Zhang added.
The comments from the Chinese Minister also comes days after Tillersoon described India as a partner in a strategic relationship and said the US would “never have the same relationship with China, a non-democratic society”.
According to reports, last month China refused to fund travel for visiting scholars at University of California, San Diego, apparently in retaliation for inviting the Dalai Lama to be its 2017 commencement speaker.
In April this year, China had reacted violently to a visit by the Dalai Lama to Tawang, in India’s northeast border state of Arunachal Pradesh, large parts of which is claimed by Beijing. (IANS)
Beijing, Oct 02: China on Monday celebrated the 148th birth anniversary of Mahatma Gandhi, with the India Embassy in Beijing releasing commemorative postage stamps on the Ramayana.
Many Chinese nationals offered flowers to a statue of Gandhi at Beijing’s Chaoyang Park, while school children recited his famous quotes in Mandarin on a nippy overcast day.
“Gandhiji looked forward to a day when a free India and a free China could cooperate in friendship and brotherhood for their own good and for the benefit of Asia and the World,” Wilson Babu, Charge D’Affaires at the Indian embassy, said.
“Leaders of our two countries have been striving to build strong India-China relations based on Gandhiji’s ideals of world peace and respect for all human beings.”
In Shanghai, the Indian Consulate organised a series of events including a memorial lecture, screening of a documentary film and a painting completion for children of the Indian community.
Mahatma Gandhi has become increasingly popular in China, with many Chinese researchers studying his ideology of non-violence.
Mohandas Karamchand Gandhi was born on October 2, 1869, in Porbandar in Gujarat to Putlibai and Karamchand Gandhi. (IANS)
New Delhi, Sep 22, 2017: India has progressed better than US and China in terms of its specialist doctors adopting digital modes to interact with patients and prescribe medicines, a study revealed on Friday.
According to the study, gap in US between the face-to-face medicines and medical representatives triggered mails narrowed down from 15 per cent in 2015 to 12 per cent in 2017. The study stated that digital channels are slowly but surely gaining ground over traditional ones. This year, the gap further narrowed to around 12 per cent.
“India witnessed the narrowing of the gap between face-to-face tablet and medical representatives triggered mail from 34 per cent in 2015 to 8 per cent in 2017,” said the study conducted by Indegene — a company offering research and development solutions to healthcare and pharmaceutical enterprises.
The highest number of specialist who have adopted digital platform to deal with patients are Cardiologists, General Surgeons, Pulmonologists, Endocrinologists, and Oncologists.