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Renminbi 2.65% Bonds due 2013 Denomination: Rmb 10,000
Renminbi 2.65% Bonds due 2013 Denomination: Rmb 10,000

2015 Annual Report
2015 Annual Report

... of 39%. Official Accounts became a leading platform connecting users to content creators, merchants and advertisers. Weixin Pay also became increasingly popular. The volume of red envelopes exchanged via Weixin Pay exceeded 32 billion within six days during the Lunar New Year holidays in early 2016, ...
China Dairy Sector
China Dairy Sector

... displayed stronger momentum than most. The outperformance has also been apparent for listed dairy companies, which saw higher growth in general against players in other sectors. Dairy sector growth vs. other F&B beverages – 2014 ...
LCH.Clearnet Limited
LCH.Clearnet Limited

... a bank or other credit institution (including but not limited to the National Bank of Belgium and Deutsche Bank AG) which provides securities holding and/or securities settlement services to the Clearing House as a nominee or otherwise through its participation in any securities settlement system or ...
Notice of the Ministry of Labor and Social Security and China
Notice of the Ministry of Labor and Social Security and China

... end of a day in the clearing reserve account of a clearing participant shall not be lower than the minimum limitation of clearing reserve as checked and ratified by the China Clearing Corporation. Article 19 The securities transactions on enterprise annuity fund shall be carried out through special ...
Contemporary Logistics the Forming of Real-life Exchange Rate Misalignment
Contemporary Logistics the Forming of Real-life Exchange Rate Misalignment

... 3.1 The forming process of RMB real exchange rate going out of balance from 1982 to 1993 During 1982 to 1993, China adopted a dual and two-tier exchange rate system. IMF weighed the official exchange rate and foreign exchange market exchange rates when calculating the real exchange rate of RMB. As w ...
Asia Development, Financial Markets, Infrastructure
Asia Development, Financial Markets, Infrastructure

... Emerging economies have outperformed the developed world not only in terms of share of global GDP, but are also growing more quickly. In the 1980s, developed and emerging markets grew at the same pace, but since the turn of the millennium, average growth in the emerging world has surged to rates tha ...
Dual Currency Investment – Important Facts Statement
Dual Currency Investment – Important Facts Statement

... RMB Conversion Limitation Risk (if applicable) – RMB investments are subject to exchange rate fluctuations which may provide both opportunities and risks. The fluctuation in the exchange rate of RMB may result in losses in the event that the customer converts RMB into HKD or other foreign currencies ...
Carry out the ideal future life
Carry out the ideal future life

... illustrated in the benefit illustration provided at point of sale. You may browse the following website, www.boclife.com.hk/ps, to understand BOC Life’s philosophy in deciding dividends as well as dividend history for reference purposes. Please note that past performance of dividend is not an indica ...
2014 Annual Report - Aquatic Foods Group
2014 Annual Report - Aquatic Foods Group

... PRC. The Group plans to focus on advertising and promotion and will carry out further cross-promotion for our different product types. The Group will also continue to support its regional distributors to establish “Zhenhaitang” branded retail stores. By the end of 2015, the Group plans to establish ...
Markets and Securities Services
Markets and Securities Services

... the QFII scheme to address quota allocation and capital mobility restrictions  February 24 2016, Introduced the Overseas Institutional Investors (OII) scheme to access CIBM  May 27, 2016, Shanghai and Shenzhen stock exchanges enhanced regulations on share suspension to limit suspension to a maximu ...
Gold, the renminbi and the multi
Gold, the renminbi and the multi

... Fourth, with the rise of the renminbi, despite all the evident handicaps attending to its potential reserve status, Asia has a champion with which to confront the supremacy of the western currencies. Fifth, and most crucial with respect to the role of gold, the previously dominant western economies ...
A Twelve-Area Model for the Equilibrium Nominal Chinese Yuan/US
A Twelve-Area Model for the Equilibrium Nominal Chinese Yuan/US

... model to a twelve-area model. We include China and its eleven main trade partners; i.e. Australia, Canada, Euro area, Hong Kong, Japan, Korea, Malaysia, Singapore, Thailand, United States and the United Kingdom. The criterion is that any economic bloc that has aggregate trade with China that account ...
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... exchange market (Johnson, 2010). We also want to study the balance of payments of China and the U.S., because the U.S. is China’s second largest trading partner. The current accounts of these countries will be of particular interest. This analysis of the balance of payments will also give a better u ...
IPO Analysis - Agricultural Bank of China (1288.HK)
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... citizens living in China’s rural areas, accounting for 69% of the total population. In 2008, the rural economy contributed 49.8% of China’s total GDP. As the leading bank in those areas, the ongoing urbanization process is expected to improve the operating environment. ABC’s business strategy focuse ...
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vsi10 roc Vogel 13241617 en

... The emergence and persistence of large global current account imbalances has attracted a lot of economic research and policy discussion (see Gruber and Kamin, 2007). Part of the work focuses on net debtor countries as the pull side of global imbalances (e.g. Bems et al., 2007; Blanchard, 2007; Bussi ...
Money Market Operations in China: Monetary Policy or
Money Market Operations in China: Monetary Policy or

... with such a situation, including a ceiling on call rates. The regulation on money market rates was removed only in June 1996 after the national interbank call market was set up by the PBOC in Shanghai in January 1996. The range of participants in the interbank market was initially limited to domesti ...
The Potential of the Renminbi as an International Currency
The Potential of the Renminbi as an International Currency

... significantly, banks in Hong Kong started in 2004 to offer renminbi banking services such as deposits, remittance, currency exchange and debit/credit cards. The scope of the renminbi business in Hong Kong has been expanded twice in 2005 and in 2007 respectively, with Hong Kong now possessing a renmi ...
Is the Chinese currency, the renminbi, dangerously undervalued
Is the Chinese currency, the renminbi, dangerously undervalued

... hina should float the renminbi, and permit it to appreciate in the currency markets, for both internal and international reasons. Domestically, China is wasting large amounts of resources by piling up excessive and low-yielding foreign exchange reserves. Its desire to continue insulating itself from ...
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PowerPoint 演示文稿

...  Secure QE scale and narrow trade deficit  Since Japan implements currency easing at macro level, Bank of Japan is purchasing government bonds. It debt has reached 325 trillion yen in April 2015, with government debt account up for 84%.  The super QE has led to a significant depreciation in Japan ...
A managed floating exchange rate regime is an established policy
A managed floating exchange rate regime is an established policy

... 1994. The essential role of a stable and healthy financial system in preventing and addressing crisis was fully recognized in the wake of the Asian financial crisis. Around 2003, when financial reform in China was at a critical juncture, the country was faced with the urgent task of launching joint- ...
Asia
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... Citigroup Global Markets Inc, including its parent, subsidiaries and/or affiliates (“CGMI”), may make a market in the securities discussed in this report and may sell to or buy from customers, as principal, securities recommended in this report. CGMI may have a position in securities or options of a ...
Is China or India more financially open?
Is China or India more financially open?

... Data reduction methods are an option (OECD, 2005)). But Dawes (1979) argues that even improper linear models are conducive to robust decisions. ...
RMB Internationalization: An Empirical and Policy Analysis
RMB Internationalization: An Empirical and Policy Analysis

... Chinese currency has been used in the settlement of border trade between China and some neighboring countries, and RMB banknotes are accepted by shops in many tourist destinations in the region. Furthermore, in 2007, Hong Kong possessed a RMB bond market outside Mainland China. In the long term, the ...
Is the Chinese RMB undervalued
Is the Chinese RMB undervalued

... necessary, what impacts it might have on the Chinese economy as a whole and what strategy should be employed to manage a soft landing of the Chinese economy (that is how to manage cooling down the overheated economy without causing a financial distress). As mentioned above, the key differences betwe ...
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Internationalization of the renminbi

Since the late-2000s, the People's Republic of China (PRC) has sought to internationalize its official currency, the Renminbi (RMB). In 2004, Hong Kong resident could purchased yuan without required underlying up to 20,000 per day. The RMB Internationalization accelerated in 2009 when China established dim sum bond market and expanded Cross-Border Trade RMB Settlement Pilot Project, which helps establish pools of offshore RMB liquidity. In 2013, the RMB was the 8th most traded currency in the world and the 7th most traded in early 2014. By the end of 2014, RMB has ranked 5th as the most traded currency, according to SWIFT's report, at 2.2% of SWIFT payment behind JPY (2.7%), GBP (7.9%), EUR (28.3%) and USD (44.6%). Currently (February 2015) RMB is the second most used currency in trade financing, and reach the ninth position in forex trading. The Renminbi Qualified Foreign Institutional Investor (RQFII) quotas were also extended to other five countries - the UK (extended 15 October 2013), Singapore (22 October 2013), France (20 June 2014), Korea (18 July 2014), Germany (18 July 2014), and Canada (8 November 2014), each with the quotas of ¥80bn except Canada and Singapore (¥50bn). Previously, only Hong Kong was allowed, with a ¥270bn quota. The launch of Shanghai-Hong Kong Stock Connect (SSE and HKEx) in November 2014, embarked China into the next stage of internationalization. In January 2015 Chinese Premier, Li Keqiang, announced a planned second Stock Connect linking Shenzhen and Hong Kong exchanges. The China's RMB internationalization and foreign exchange (FX) reforms are evolving rapidly and full convertibility is expected over the next couple of years.
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