BY LINGLING WEI
BEIJING?Many Chinese exporters are starting to hoard the dollars they earn, betting that the yuan is unlikely to appreciate much more, a shift in strategy that is having a ripple effect throughout the country's financial system.
Until recently, Chinese exporters like state-owned Huihong International Group and privately held Saijia Co. had rushed to sell their dollar earnings to banks as soon as they got paid, in exchange for the appreciating yuan. Now, because the Chinese currency no longer seems certain to rise, those companies are holding their dollars for as long as they can.
"In the past, we would exchange ...
BY LINGLING WEI
BEIJING?Many Chinese exporters are starting to hoard the dollars they earn, betting that the yuan is unlikely to appreciate much more, a shift in strategy that is having a ripple effect throughout the country's financial system.
Until recently, Chinese exporters like state-owned Huihong International Group and privately held Saijia Co. had rushed to sell their dollar earnings to banks as soon as they got paid, in exchange for the appreciating yuan. Now, because the Chinese currency no longer seems certain to rise, those companies are holding their dollars for as long as they can.
"In the past, we would exchange ...
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