As the new year of 2024 has begun, Chinese people are hopeful of a more substantive rise in family incomes than in 2023. But uncertainties will continue to engulf the world, including hot conflicts, cold economic wars, blockades of important waterways like the Red Sea, and possibly, another...More

Beijing. China and Russia signed a memorandum of understanding (MOU) in Shanghai on Tuesday to deepen financial cooperation and push for direct trading between the yuan and the ruble, a move in line with both countries' demand for diversifying reserve assets and reducing dollar reliance amid rising global...More

Beijing. An alternative to the Society for Worldwide Interbank Financial Telecommunication (SWIFT) global payment system, which is being drawn up by China, Russia and India, has a fair chance to end the dominance of the US dollar in the global financial sector, Chinese analysts said Tuesday. Russian news...More

China, the world's biggest oil importer, should follow the lead of Russia and switch to the euro from the US dollar for its oil and natural gas contracts. Rosneft, Russia's top crude oil producer, has reportedly set the euro as the default currency for its oil product sales....More