China
Agustín Carstens on BIS strategic priorities, innovation and central bank policy
The BIS general manager speaks about policy trade-offs at critical time, tackling NBFIs and the dearth of ‘green’ assets, tech collaboration, and why he favours Biden’s $3.5trn infrastructure bill
PBoC’s digital yuan on track for 2022 Winter Olympic debut
Preparations for e-yuan to be used in the winter games are at a final stage, says deputy governor
PBoC tells payment firms to cut ties to other business lines
Governor’s speech follows reported crackdown on China’s Ant Group
Report accuses Georgieva of changing data under Chinese pressure
IMF head rejects allegations made by World Bank-commissioned independent report
PBoC widens offshore bond trading for Chinese investors
Large banks will be able to deal in foreign bonds via Hong Kong under new scheme
PBoC opens up wealth management to Hong Kong and Macau
China looks to shore up Hong Kong’s status as a financial centre amid concerns over security crackdown
PBoC to provide 300 billion yuan to SMEs
State Council calls on central bank to step in as Delta variant shows signs of denting growth
FX market intervention key tool for emerging market economies
Central bank markets departments perform a wide range of different roles
Some philosophical questions about the future of central banking
Kenneth Rogoff weighs up the many challenges facing central banks in the years ahead, from debt and inflation to negative rates and the dangers of ‘mission creep’
Digital yuan project should rethink anonymity, paper urges
Scholars argue CBDC “wallets” ought to be under full control of retail users
Book notes: Fintech regulation in China, by Robin Hui Huang
The book includes meticulous exploration of detailed regulations across the Chinese fintech sector, but risks missing some of the bigger picture due to China’s on/off oversight
Digital revolution: perks of a global Chinese CBDC
Chinese central bank digital currency has the potential to boost the renminbi’s internationalisation further, but only if international investors have access.
Book notes: The pay off, by Gottfried Leibbrandt and Natasha de Terán
A timely introduction to and accessible survey of payment system developments
PBoC plays down surge in factory-gate prices
PPI and CPI in July both higher than expected, but central bank says pressure is “controllable”
The renminbi in focus: reserve managers see promise
Reserve managers see potential in the renminbi and expect the International Monetary Fund to increase its weighting at the next special drawing rights reassessment
PBoC to support green finance with low-cost funding
Bank says it will extend its tougher regulation of crypto assets
China’s capital controls: here to stay?
With China’s share of the domestic central government bond market significantly increasing in just a few years, and the International Monetary Fund including the renminbi in its special drawing rights basket of currencies, China is enjoying growing…
Five years of the renminbi in SDR and its adoption in central bank portfolios
Policy-makers discuss what has impacted the renminbi’s adoption as a global reserve asset over the past five years.
The ‘golden age’ of central banking has passed
Central banks face multi-faceted challenges and weakened autonomy amid highly polarised inflation expectations
PBoC to study cross-border payments in digital yuan
Central bank confirms digital yuan will be direct central bank liability
PBoC continues crypto trading crackdown
Chinese deputy governor says PBoC will widen tests of ‘digital yuan’ CBDC prototype
Fed’s CBDC efforts should not be driven by digital yuan, Fed official says
A decision on ‘Fedcoin’ should be independent of action taken by China, says David Andolfatto
Georgieva proposes China deputy governor for IMF job
Li Bo would become deputy managing director from August
Hong Kong to study ‘e-HKD’ at retail level
Hong Kong will begin study on retail CBDCs and work with PBoC on e-CNY in the next year