China
Tracking China’s currency
Ren Kangyu looks at how China’s currency has extended its reach beyond the mainland in the short space of seven years.
Lagarde holds crucial talks with Beijing
IMF managing director Christine Lagarde meets Chinese premier Wen Jiabao to discuss the country’s economic response to the global slowdown; warns international economy could face lost decade of growth
National Bank of Austria to invest in renminbi-denominated assets
People’s Bank of China and National Bank of Austria sign agreement enabling the Austrian central bank to invest in renminbi-denominated assets
Trichet says China funding request is right thing to do
Outgoing ECB president denies it is embarrassing or humbling for Europe to have to ask other countries for financial support; insists it is "absolutely normal" in today’s global world
ECB paper highlights renminbi’s prominence in Asia
European Central Bank study says China’s growing dominance in Asia is key driver of currency movements in region
Korea and China renew currency swap deal early
People’s Bank of China and Bank of Korea agree to renew and expand currency swap arrangement; also discuss converting swap currencies into reserves
Chinese officials jailed over information leaks
Two government officials are given lengthy prison sentences; found to have leaked information on economic growth, retail sales and inflation figures
China banking regulator talks of reform ‘determination’
Liu Mingkang says rating agencies and analysts “underestimate” China’s determined reforms to the banking sector; warns of shadow banking clamp down
RMB’s rise to reserve currency status accelerates
Renminbi progresses towards becoming a reserve currency in its own right; a number of central banks have begun to diversify into the Chinese currency
Priorities shift for reserve managers
Central bank reserve managers discuss focusing on safety of investments after the financial crisis; see uncertain future for global financial system
China slams US bill penalising renminbi imports
People's Bank of China says it firmly opposes bill passed by US Senate to impose countervailing duties on imports from countries undervaluing their currency
RBA announces representative in China
Ivan Roberts to open Reserve Bank of Australia representative office in Beijing; will assist with monitoring of economic and financial conditions in China
Bank of Finland forecasts China’s economy to slow
Bank of Finland Institute for Economies in Transition says growth in China is expected to weaken to 9% in 2011 from 10.4% in 2010
HKMA’s Chan happy with pace of renminbi internationalisation
Norman Chan accepting of need to test the offshore market with step by step internationalisation of renminbi; urges banks to get ready for trade using Chinese currency
Hong Kong regulator moves to authorise renminbi products under RQFII
Hong Kong regulatory platform ready to approve RQFII products; China’s central bank says priority to be given to Hong Kong-based subsidiaries of mainland banks and fund managers
China moves closer to renminbi inclusion in SDR
Comments by Chinese officials hinting renminbi will be fully convertible by 2015 open door to inclusion of currency in IMF’s special drawing rights basket
The future of central banking: CB.com panel
Robert Pringle moderates a panel assessing the future of central banking in a post-financial crisis world
Central banks’ flight to safety in reserve holdings continues
Reports continue to emerge from around the world of central banks diversifying their foreign currency reserves and adding to gold holdings
‘Astronomical’ Chinese reserves under scrutiny: Fed paper
Federal Reserve Bank of St. Louis working paper highlights drawbacks to current global-imbalance literature when trying to assess situation in China
Capital inflows must be better monitored: BoJ paper
Bank of Japan study says framework to monitor capital inflows must be improved to reflect increase in volume
PboC adviser calls for urgent reform in the West
People’s Bank of China adviser Li Daokui says Europe and the US must introduce further reforms to address their chronic economic problems
ING’s Gupta: Yuan to become reserve currency in two years
ING Investment Management Asia’s CIO believes the yuan will become a reserve currency within the next two years driven by the ongoing debt problems in Europe and the US.
Bank of Finland paper assesses China’s two-track system
Bank of Finland study explains why monetary policy in China uses a combination of price and quantitative instruments