Analysts say move won't check the inflationary pressures in China
Stocks on the Chinese mainland fell for a fifth day, capping the longest stretch of losses this year.
The yuan-denominated sovereign fund is set to be launched before year end to invest in Latin America.
China's main stock index fell for the fifth day in a row on Thursday amid vague market talks of a policy change ahead of a long weekend, pushing down property and cement issues.
Bank of Jiangsu, a Chinese commercial bank, will soon launch an initial public offering worth up to 10 billion yuan ($1.5 billion), the 21st Century Business Herald reported on Thursday, citing an unidentified source close to the deal.
The Chinese currency Renminbi (RMB), or the yuan, Thursday gained 45 basis points from Wednesday to a record new high of 6.5051 per US dollar.
The National Council for Social Security Fund (SSF) has promised to invest 10 billion yuan ($1.5 billion) in the China Development Bank (CDB), one of the country's three policy lenders, the bank announced Wednesday.
Agricultural Bank of China, the nation's largest lender to farmers, said Wednesday that its net profits in the first three months this year climbed 36.43 percent from a year earlier due to higher interest income and commissions.
China will likely allow some of the world's top 500 companies to float shares in its A-share market as it prepares the launch of an international board in Shanghai, Chinese media reported on Tuesday.
Stocks on the Chinese mainland fell for a third day on Tuesday. The retreat came on concern that government measures to tame inflation are slowing earnings growth as China Life Insurance Co and Datong Coal Mine reported declines in first-quarter profit.
The People's Bank of China (PBOC), China's central bank, plans to expand its pilot plan for using the currency of renminbi in cross-border trade to more regions this year, an official with the bank said Tuesday.
Capital inflows create contradiction for policymakers and market players