The Communist Chinese government has deployed tanks to prevent its disillusioned people from withdrawing their savings from crisis-embattled banks. Shocking video taken in what is believed to be Rizhao in Shandong Province shows a line of tanks surrounding a local bank branch to prevent disgruntled citizens from withdrawing their money, which the government is now classifying as “investment products,”... 

China added to its official gold reserves for the third straight month in February as the country continues efforts to minimize its exposure to the US dollar. The People’s Bank of China added 10 tons of gold to its horde last month. It has accumulated an additional 32 tons of the yellow metal since the beginning of the year. According to the Financial Times, at this rate, China will surpass Russia... 

China says its economic growth is expected to slow slightly to 6.8 percent next year. China’s central bank announced on Wednesday that the country’s economic growth is expected to slow slightly to 6.8 percent next year. The figure by the People’s Bank of China is slightly lower than its forecast of 6.9-percent expansion for the current year, AFP has quoted the country’s official Xinhua... 

Beijing’s depreciation of the yuan in mid-August has triggered a wave of copycat moves from other countries and falling values of currencies. Is this a new currency clash, or is each case specific? What happened in China? In three consecutive days last week, the People’s Bank of China devalued the national currency, with a 4.4 percent overall depreciation. The step was intended to revive exports,... 

China has ended six years of concealing its gold reserves, announcing a 57% rise in its hoard which puts it in the top five with the largest stash of the precious metal. According to the People’s Bank of China, bullion assets totaled 3.31 million troy ounces or about 1,658 metric tons at the end of the June. The US has the biggest reserves put by the World Gold Council at 8,133.5 tons followed by...