Here’s Why It Was So Shocking That Chinese General Xu Caihou Was Busted For Corruption

Business Insider
By Jeremy Bender | Business Insider

<Original Source>

china General Xu Caihou

REUTERS/Kevin Lamarque/Files China’s Central Military Commission Vice Chairman General Xu Caihou listens to national anthems during a welcome ceremony at the Pentagon in Washington, in this October 27, 2009 file photo.

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China Alibaba founder Jack Ma shows global ambitions

AFP

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Alibaba Group Founder and Executive Chairman Jack Ma speaks during a session of the World Economic Forum annual meeting on January 23, 2015 in Davos, Switzerland (AFP Photo/Fabrice Coffrini)

Davos (Switzerland) (AFP) – Alibaba founder Jack Ma, China’s richest person, on Friday expressed ambitions of making his company into a global e-commerce platform serving two billion customers.… read the full article

China’s use of yuan for cross-border business growing

AFP

<Original Source>

China’s use of its own yuan currency for cross-border transactions has increased “notably” to 9.95 trillion yuan ($1.63 trillion) last year, the central bank said Friday, without giving a comparative figure.

China is seeking to make the yuan — also known as the renminbi (RMB) — used more internationally in line with its standing as the world’s second-largest economy.

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