State Administration: Exchange Reserves and Business Activities

state administration: The recent decline of the yuan is a challenge, but the impact is not significant because we innovate, said Lee, vice director at Beier Machinery Group from Zhangjiagang Economic and Technological Development Zone in Jiangsu Province, according to Global Times China. The yuan or renminbi lost 6.6 percent against the dollar in 2016. Currency fluctuations are major challenge for companies whose exporting and importing volumes dictate their pace of doing business and this applies for Chinese producers with ample business activities overseas in particular. Chinese foreign exchange reserves stood at about 3.01 trillion US dollars last month, down from about 3.05 trillion in November, the State Administration of Foreign Exchange SAFE said, citing figures from the central bank. We catch up with existing clients and we look for new customers, said Lee. We exhibit for the fourth time at the Arabplast in Dubai and we have customers in all 22 Arab countries. (news.financializer.com). As reported in the news.