The Renminbi`s Dollar Peg at the Crossroads
... In the face of huge balance of payments surpluses and internal inflationary pressures, China has been in a classic conflict between internal and external balance under its dollar currency peg. Over the longer term, China’s large, modernizing, and diverse economy will need exchange rate flexibility a ...
... In the face of huge balance of payments surpluses and internal inflationary pressures, China has been in a classic conflict between internal and external balance under its dollar currency peg. Over the longer term, China’s large, modernizing, and diverse economy will need exchange rate flexibility a ...
Asian US dollar bond market: China`s new
... We believe that some of these funds have not yet been fully disbursed for planned projects, and that some portion of planned ODI funds may be currently deposited in Hong Kong. This, together with unrepatriated funds from exporters and proceeds from corporate initial public offerings and bond issuanc ...
... We believe that some of these funds have not yet been fully disbursed for planned projects, and that some portion of planned ODI funds may be currently deposited in Hong Kong. This, together with unrepatriated funds from exporters and proceeds from corporate initial public offerings and bond issuanc ...
New Estimation of China`s Exchange Rate Regime
... temporarily shifted to other currencies: the Malaysian ringgit, the Korean won, the Russian ruble, and the Thai baht. Surprisingly, throughout the sample, there was not an iota of evidence of any positive weight assigned to the yen or the euro. Second, beginning in the fall of 2006, in addition to t ...
... temporarily shifted to other currencies: the Malaysian ringgit, the Korean won, the Russian ruble, and the Thai baht. Surprisingly, throughout the sample, there was not an iota of evidence of any positive weight assigned to the yen or the euro. Second, beginning in the fall of 2006, in addition to t ...
Working Paper No. 493 China`s Exchange Rate and Financial
... policies of zero short-term interest rates and longer term quantitative easing expected to continue, the world (outside of Europe) is still on a dollar standard [McKinnon 2013]. In East Asia, international trade—including the burgeoning intra-industry trade within the region—is mainly invoiced in do ...
... policies of zero short-term interest rates and longer term quantitative easing expected to continue, the world (outside of Europe) is still on a dollar standard [McKinnon 2013]. In East Asia, international trade—including the burgeoning intra-industry trade within the region—is mainly invoiced in do ...
offshore china monthly digest
... “The PBOC’s decision to allow for more market-based determination of the yuan is taking us into new territory - one with more volatility but also of opportunities. And as the yuan moves towards a free float, investors will have to consider the consequences and risks accordingly. From structured prod ...
... “The PBOC’s decision to allow for more market-based determination of the yuan is taking us into new territory - one with more volatility but also of opportunities. And as the yuan moves towards a free float, investors will have to consider the consequences and risks accordingly. From structured prod ...
currency reform-1 - the School of Economics and Finance
... The Issue of Full Convertibility In October 1993, after a brief visit to China and Hong Kong, Milton Fridman predicted that Hong Kong dollar, which has been linked to U.S. dollar at 7.8 H.K. dollar per U.S. dollar through a currency board system since 1982, will be replaced by the Chinese currency R ...
... The Issue of Full Convertibility In October 1993, after a brief visit to China and Hong Kong, Milton Fridman predicted that Hong Kong dollar, which has been linked to U.S. dollar at 7.8 H.K. dollar per U.S. dollar through a currency board system since 1982, will be replaced by the Chinese currency R ...
PBOC Monetary Policy Reform
... part of his/her/their compensation was, is or will be directly or indirectly related to the specific recommendation(s) or views contained in this research report. Nothing herein shall constitute as offers or solicitation of offers to buy or sell foreign exchange contracts, securities, financial inst ...
... part of his/her/their compensation was, is or will be directly or indirectly related to the specific recommendation(s) or views contained in this research report. Nothing herein shall constitute as offers or solicitation of offers to buy or sell foreign exchange contracts, securities, financial inst ...
Comparison of China and US` Bank Reserves and Their Implications
... to China, but to a less degree. Take the Eurozone for example, its banking assets were 2.5 times of its GDP, 4.3 times of its stock market cap, and 1.4 times of its bond market in 2013. The European stock and bond markets are anything but underdeveloped. Yet when the Euro was born in 1999, ECB set t ...
... to China, but to a less degree. Take the Eurozone for example, its banking assets were 2.5 times of its GDP, 4.3 times of its stock market cap, and 1.4 times of its bond market in 2013. The European stock and bond markets are anything but underdeveloped. Yet when the Euro was born in 1999, ECB set t ...
The Costs and Implications of PBC Sterilization John Greenwood
... The overall surpluses in the balance of payments require the PBC, China’s central bank, to intervene almost daily and buy any excess foreign currency on the Shanghai foreign exchange market in order to hold down the value of the RMB. Based on 250 trading days per year, the PBC’s foreign exchange pur ...
... The overall surpluses in the balance of payments require the PBC, China’s central bank, to intervene almost daily and buy any excess foreign currency on the Shanghai foreign exchange market in order to hold down the value of the RMB. Based on 250 trading days per year, the PBC’s foreign exchange pur ...
The Balassa-Samuelson effect
... G.Alessandria & J. Kaboski, 2008, “Why are Goods So Cheap in Some Countries? ” Bus.Rev, Fed.Res. Bank of Philadelphia, Q2. Fig.1 ...
... G.Alessandria & J. Kaboski, 2008, “Why are Goods So Cheap in Some Countries? ” Bus.Rev, Fed.Res. Bank of Philadelphia, Q2. Fig.1 ...
Foreign Exchange Control and Foreign Exchange System in China
... personal use was increased a lot from January ...
... personal use was increased a lot from January ...
Frequently Asked Questions on the Linked Exchange Rate System
... rate in the foreign exchange market against the US dollar (USD), at around HK$7.80 to US$1. The structure of the monetary system is characterised by Currency Board arrangements, requiring the Hong Kong dollar (HKD) Monetary Base1 to be at least 100% backed by the USD reserves held in the Exchange Fu ...
... rate in the foreign exchange market against the US dollar (USD), at around HK$7.80 to US$1. The structure of the monetary system is characterised by Currency Board arrangements, requiring the Hong Kong dollar (HKD) Monetary Base1 to be at least 100% backed by the USD reserves held in the Exchange Fu ...
Factsheet 2014 Annual
... and also the 70km Ningbo-Jinhua Expressway (Jinhua section) for a period of 25 years. The Group also carries out certain ancillary businesses such as restaurants, shops, and gas stations within service areas and billboard advertising along expressways, as well as securities businesses across the cou ...
... and also the 70km Ningbo-Jinhua Expressway (Jinhua section) for a period of 25 years. The Group also carries out certain ancillary businesses such as restaurants, shops, and gas stations within service areas and billboard advertising along expressways, as well as securities businesses across the cou ...
SBP Governor explains Currency Swap Agreement with Peoples
... 2. SBP can purchase CNY from PBC against its local currency (PKR), and repurchase its local currency with the same CNY on a predetermined maturity date and exchange rate. Similarly PBC can also purchase PKR against CNY. Standard market pricing will apply ...
... 2. SBP can purchase CNY from PBC against its local currency (PKR), and repurchase its local currency with the same CNY on a predetermined maturity date and exchange rate. Similarly PBC can also purchase PKR against CNY. Standard market pricing will apply ...
Topic: reference currency basket of the renminbi
... clouded by politically motivated commentary. ...
... clouded by politically motivated commentary. ...
Client Letter 2Q 2015
... Given the still-unhealthy valuations present in the Shanghai and Shenzhen markets, the Chinese government’s attempts to prop up the markets are unlikely to end well. At best it will allow some retail investors to exit, but it will be essentially replacing such retail money with public funds. ...
... Given the still-unhealthy valuations present in the Shanghai and Shenzhen markets, the Chinese government’s attempts to prop up the markets are unlikely to end well. At best it will allow some retail investors to exit, but it will be essentially replacing such retail money with public funds. ...
Setting the Upper Limit on Voting Power of Elected Executive Directors
... Expand QDII institutions; raise QDII quota; residents issue RMB bonds offshore ...
... Expand QDII institutions; raise QDII quota; residents issue RMB bonds offshore ...
2007-08 Global Financial Collapse: Assessing Whether the Crisis
... 2009 when the Recession reached its heights.8 China has also pushed for policies that increase the RMB’s network externalities, actively encouraging its use in international trade. For instance, in 2009 and 2010, China began allowing private sector trades with members of the Association of Southeast ...
... 2009 when the Recession reached its heights.8 China has also pushed for policies that increase the RMB’s network externalities, actively encouraging its use in international trade. For instance, in 2009 and 2010, China began allowing private sector trades with members of the Association of Southeast ...
ATTACHMENT B: Greater Toronto Chinese
... administrative status in the southern province of Guangdong. Under economic liberalization policies of the 1980s carried out by reformist leader Deng Xiaoping, the city became China’s first - and ultimately the most successful - Special Economic Zone (SEZ). Shenzhen continues to be one of the fastes ...
... administrative status in the southern province of Guangdong. Under economic liberalization policies of the 1980s carried out by reformist leader Deng Xiaoping, the city became China’s first - and ultimately the most successful - Special Economic Zone (SEZ). Shenzhen continues to be one of the fastes ...
Exchange Rates, Wages, and International Adjustment: Japan and
... U.S. imports from China unless RMB appreciates (withdrawn October 2006, but new threat in 2007) -Section 3004 of U.S. Public Law 100-418: U.S. Secretary of Treasury must report twice a year on whether countries with trade surpluses are “manipulating” their currencies. Timothy Geitner’s congressional ...
... U.S. imports from China unless RMB appreciates (withdrawn October 2006, but new threat in 2007) -Section 3004 of U.S. Public Law 100-418: U.S. Secretary of Treasury must report twice a year on whether countries with trade surpluses are “manipulating” their currencies. Timothy Geitner’s congressional ...
KraneShares E Fund China Commercial Paper ETF (ticker: KCNY)
... Short term sovereign bonds in the United States, Europe and Japan yield less than 1%, while equivalent bonds in China’s Interbank market offer a compelling 2.9% yield.4 ...
... Short term sovereign bonds in the United States, Europe and Japan yield less than 1%, while equivalent bonds in China’s Interbank market offer a compelling 2.9% yield.4 ...
Development and utilisation of financial derivatives in China
... started up its RMB forward exchange settlement and sales business, as the first bank authorised to do so, marking an important milestone in the development of the Chinese derivatives market. (b) RMB foreign exchange swaps RMB exchange swap transactions were introduced in April 2006. The National Im ...
... started up its RMB forward exchange settlement and sales business, as the first bank authorised to do so, marking an important milestone in the development of the Chinese derivatives market. (b) RMB foreign exchange swaps RMB exchange swap transactions were introduced in April 2006. The National Im ...
Hong Kong Economic and Monetary Developments and Prospects
... Supplementing the capital adequacy ratio with a non-risk based leverage ratio Introducing a new liquidity coverage ratio and a net stable funding ratio ...
... Supplementing the capital adequacy ratio with a non-risk based leverage ratio Introducing a new liquidity coverage ratio and a net stable funding ratio ...
Economic Insight
... Financial volatility is set to remain elevated but systemic risk will be contained. First, Eurozone hiccups and currency carnage in emerging markets put pressure on the Chinese export model. Second, China’s internal transformation is kicking in (see table 2) and the banking system and private sector ...
... Financial volatility is set to remain elevated but systemic risk will be contained. First, Eurozone hiccups and currency carnage in emerging markets put pressure on the Chinese export model. Second, China’s internal transformation is kicking in (see table 2) and the banking system and private sector ...