China
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
Financial interlinkages are uniform across Asia region: BoJ paper
Bank of Japan study shows links between Asian nations and global stock markets appear to be homogeneous across countries
Chinese inflation hits new high
The National Bureau of Statistics says consumer price inflation in China rose to 6.5% in July, its highest level since June 2008
Good luck played role in post-crisis recovery: BIS paper
Bank for International Settlements study says combination of good policies and good luck led to variation in macroeconomic performance of countries
‘Now is the time’ for China to end dependency on dollar, says former official
Former member of the monetary policy committee of the Chinese central bank says China must end dependency on dollar; advises immediate renminbi ‘float’
Last-minute US debt ceiling rise leaves world reeling
Debt ceiling deal will not restore investor confidence immediately; China still looking to diversify reserves away from dollar; credit ratings agencies cautiously affirm top ratings
China focus remains on inflation fight
Prudent monetary policy to continue, says central bank; fighting inflation is still top priority
Asian Development Bank encourages regional policy cooperation
The Asian Development Bank wants to see increased regional policy cooperation to ensure more balanced and sustained growth in emerging East Asia
CIC adopts more bullish investment strategy
China Investment Corporation 2010 Annual Report shows major shift in sovereign wealth fund's investment strategy towards equities and alternative assets
Renminbi will not be ready to join SDR in 2015: CentralBanking.com panel
Panellists tell Robert Pringle they believe 2015 will be an important year in the internationalisation of the renminbi; currency will not be included in reweighting of SDR
Policymakers can mitigate post-crises unemployment effects: Turkey’s Başçı
Central Bank of Turkey governor Erdem Başçı says declines in employment during crises can be reduced by introducing policies to ease firms’ borrowing costs
Germany and China heighten cooperation
People’s Bank of China and Deutsche Bundesbank meet in Frankfurt to discuss financial stability and trade partnership; China stresses confidence in euro area
China insists local government debt is ‘manageable’
People’s Bank of China dismisses claims local government financing vehicles owe 14 trillion yuan; says risks from the debts are manageable
New lending rules for Chinese SMEs overlook deeper structural issues in credit market, say analysts
China Banking Regulatory Commission introduces new measures to boost lending to small businesses; analysts say real problems lie in regulatory framework that favours the state sector
China’s July rate hike will be last for 2011, say analysts
Analysts say slowdown in growth suggests People’s Bank of China will not hike rates beyond Wednesday’s 25-basis-point rise
Bank of Korea – Annual Report (2010)
Bank of Korea 2010 Annual Report highlights growing inflationary concerns in South Korea
Renminbi gains offer boost to foreign competitors: IMF paper
Fund study shows appreciation of renminbi increases stock price of foreign competitors and exporters to China
Sri Lanka allows renminbi in international transactions
Central Bank designates renminbi for banking transactions in Sri Lanka; next step in internationalisation of the Chinese currency
China ups gold coin production
People’s Bank of China more than doubles issuance of gold panda coins for 2011; demand outstripping minting
Bank of Finland highlights threat of dual imbalance in China
Bank of Finland study shows large external imbalances in China’s current and capital account risk creating asset bubbles
China blames loose global monetary policies for inflationary pressures
People’s Bank of China brings price control to the forefront; says loose global monetary conditions have pushed up inflation expectations