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Chinese firm breaks ground with privately managed offshore yuan fund

SHANGHAI (Reuters) - A private Chinese fund management company plans to break new ground by establishing a privately managed offshore yuan fund as a vehicle for investment in Southeast Asia, taking advantage of Beijing's moves to promote use of its currency overseas. Full story

Tencent eyes revenue growth, triples chat app users in first-quarter

(Reuters) - Tencent Holdings more than tripled the number of active users for its mobile chat application in the first quarter, a boon to China's largest online gaming and social networking firm as it tries to diversify its revenue stream. Full story

Analysis: Bullish yuan herd leaves China fundamentals in the dust

SHANGHAI (Reuters) - Investors convinced China's currency is once again a one-way bet upward should think again: signs of slowing economic growth could cut short the yuan's rally. Full story

ZTE eyes network, smartphone growth to stay profitable

HONG KONG (Reuters) - ZTE Corp, China's second largest telecoms gear maker in revenue terms, expects an increase in smartphone sales and an expansion in 4G networks to keep it in profit this year after posting its first-ever annual loss in 2012. Full story

Sovereign credit concerns, low interest rates reshaping world reserves

LONDON (Reuters) - After years of being also-rans, currencies from countries such as Canada, Australia, China, Brazil, Russia and Norway now have a realistic chance of breaking deeper into the $11 trillion global reserve mix. Full story

Alibaba makes major mobile push with 1 billion yuan fund

SHANGHAI (Reuters) - Alibaba Group said on Monday it will subsidize handset makers that adopt its mobile operating system and will set up a 1 billion yuan ($161.49 million) fund that will dole out incentives for application (app) makers to populate its mobile app ecosystem. Full story

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Picture illustration shows the Great Hall of the People on the back of a Chinese 100 yuan banknote in Beijing
Picture illustration shows the Great Hall of the People on the back of a Chinese 100 yuan banknote in Beijing

The Great Hall of the People is seen on the back of a Chinese 100 yuan banknote in this picture illustration taken in Beijing May 12, 2013. Investors convinced China's currency is once again a one-way bet upward should think again: signs of slowing economic growth could cut short the yuan's rally. P

Picture illustration shows Chinese 100 yuan banknotes in Beijing
Picture illustration shows Chinese 100 yuan banknotes in Beijing

Chinese 100 yuan banknotes are seen in this picture illustration taken in Beijing May 7, 2013. Investors convinced China's currency is once again a one-way bet upward should think again: signs of slowing economic growth could cut short the yuan's rally. Picture taken May 7. To match Analysis CHINA-Y

Picture illustration shows a Chinese one yuan coin above a Chinese 100 yuan banknote in Beijing
Picture illustration shows a Chinese one yuan coin above a Chinese 100 yuan banknote in Beijing

A Chinese one yuan coin is put above a Chinese 100 yuan banknote in this picture illustration taken in Beijing May 11, 2013. Investors convinced China's currency is once again a one-way bet upward should think again: signs of slowing economic growth could cut short the yuan's rally. Picture taken Ma

Picture illustration shows a Chinese one yuan coin in Beijing
Picture illustration shows a Chinese one yuan coin in Beijing

A Chinese one yuan coin is seen in this picture illustration taken in Beijing May 12, 2013. Investors convinced China's currency is once again a one-way bet upward should think again: signs of slowing economic growth could cut short the yuan's rally. Picture taken May 12. To match Analysis CHINA-YUA

Picture illustration shows image of Chinese late chairman Mao Zedong on a Chinese 100 yuan banknote in Beijing
Picture illustration shows image of Chinese late chairman Mao Zedong on a Chinese 100 yuan banknote in Beijing

The image of Chinese late Chairman Mao Zedong is seen on a Chinese 100 yuan banknote in this picture illustration taken in Beijing May 12, 2013. Investors convinced China's currency is once again a one-way bet upward should think again: signs of slowing economic growth could cut short the yuan's ral

A photo illustration shows a $100 banknote placed above Chinese 100 yuan banknotes in Beijing
A photo illustration shows a $100 banknote placed above Chinese 100 yuan banknotes in Beijing

A photo illustration shows a $100 banknote placed above Chinese 100 yuan banknotes in Beijing May 10, 2013. China's yuan closed at another record high on Thursday, with traders expressing surprise at the resilience of corporate yuan demand and the central bank's willingness to permit appreciation. R