The yuan, or renminbi, is the national currency of China, the world's second largest economy. The International Monetary Fund (IMF) has announced the currency's admission into its basket of reserve currencies.
China's currency, the yuan, has come under renewed pressure amid spoeculation that Beijing would permit more depreciation. This page collates recent DW content on the topic.
Buying apartments in Sydney or Vancouver seems to have become a past time for the Chinese. Chinese buyers have invested billions in real estate on the global market, as money poured out of the country. But no more. Starting this year, Chinese citzens have been forbidden from investing in real estate outside of their country.
Money used to be no object for Chinese companies. They would spend billions without batting an eye, buying up desirable foreign companies. All steered by the leadership in Bejing. And why not? Chinese companies were sitting on mountains of capital, saved during the boom years of unbridled growth. That attracted technology. Innovation is a product you can buy.
Africa's biggest economy Nigeria has agreed to become the first African country to include China's yuan currency in its foreign reserves. China is Nigeria's second largest trading partner and its third largest source of investment. The two are countries are marking 45 years of diplomatic ties