Exporters benefit from soaring yuan

Wed, 21 Oct 2020

New Zealand exporters are benefiting from a soaring yuan which is pushing Chinese purchasing power higher.The improving returns for NZ exports to the country’s largest market come at a time when covid-19 is battering the global economy, and NZ’s tourism receipts.The yuan, already on a tear, got a further leg up after news the Chinese economy expanded 4.9 percent in the third quarter from a year earlier, backing up recent projections from the International Monetary Fund that China will be the only major economy to grow in 2020.The hi...

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