China
China’s weakening data triggers stimulus action
PBoC official complains the central bank was having to act alone
People: Olli Rehn enters office as Bank of Finland governor
PBoC governor joins G30; new board members appointed at Barbados’ central bank; and more
PBoC warns businesses not to reject cash
Businesses are being given one month to rectify their practices
PBoC seeks to reassure bond investors amid default concerns
Pan Gongsheng says the central bank has not seen any “special abnormalities”
Book notes: China’s Great Wall of Debt, by Dinny McMahon
McMahon is too pessimistic about the chances of China managing to get its great wall of debt under control, writes Michael Taylor, but he is undoubtedly right about the scale of the challenge
PBoC cuts RRR amid growing instability
The move will release $108 billion amid concerns on the slowing economy and trade disputes
People: China appoints new monetary policy committee
IMF’s general counsel retires; Czech National Bank appoints new comms director
China eases restrictions on foreign investors
New rules allow qualified foreign investors to move funds more freely out of China, a step forward on capital account liberalisation
BIS paper studies evolving renminbi exchange rates
It is “premature” to declare a stable zone for the renminbi, the paper concludes
PBoC accepts lower-grade and green bonds as collateral
Central bank’s move may indicate a shift of emphasis in setting monetary policy
Book notes: Edge of chaos, by Dambisa Moyo
John Chown applauds Moyo’s analysis of how the current democratic framework is failing
PBoC’s Yi dampens market excitement on liberalisation
China rolled out series of liberalisation measures in recent months, but further action will only be gradual, says central bank governor
China opens onshore market to foreign investors
MSCI adds Chinese shares to its emerging markets index for the first time
Have central banks created a ‘debt trap’? No, but ...
Tougher regulation has helped ensure extraordinary monetary policy has not caused a dangerous rise in private debt
Pakistan strengthens China ties with expanded swap agreement
Doubling of swap line is latest in a series of sometimes controversial integration measures
Lowe says RBA is closely monitoring China’s shadow banks
Interconnections mean trouble in Chinese markets would likely spill into Australia, governor says
The toxicology of post-crisis shadow banking
Mark Carney tempted fate in 2017 when he declared the most toxic forms of shadow banking “no longer represent a global stability risk”. Did he speak too soon?
Reserve managers cautious on renminbi, despite predicting rapid growth
Market liberalisation, government intervention and PBoC’s approach to new areas of investment are top concerns
HKMA rolls out new initiatives to lure bond issuance
The three-year pilot promises to fund half of eligible bond issuance expense, up to a maximum of HK$2.5 million
Researchers propose new method of measuring Chinese inflation
Bank of Finland paper says many current measures under-weight food and energy prices
The IFF China Report 2018: The Bay Area Development
The Guangdong–Hong Kong–Macao Great Bay Area represents an effort to co-ordinate development to create globally competitive city clusters at the start of the Maritime Silk Road in southern China. These efforts are focussed in particular on innovation,…
The IFF China Report 2018: Chinese financial system reform
China is focusing greater effort in tackling the build-up of risks in its banking and financial system, while also seeking to ensure credit is more effectively distributed in the real economy. At the same time it is has embraced fintech but policymakers…
Fintech in the ‘new era’ – Sustainable and sound development
Li Dongrong, president of the National Internet Finance Association of China and former deputy governor of the People’s Bank of China, discusses the growing importance of fintech and how innovation must be married to self-discipline for China to make a…
China’s macroeconomy in the ‘new era’ of politics and power
Lou Jiwei, president of the National Council for Social Security Fund and former minister of finance of China, explores the three key aspects of China’s macroeconomic situation in the ‘new era’ of Chinese politics and power