China
Report says China peg impact overstated
Research published by the Federal Reserve Bank of Cleveland on Thursday 24 February said that China's exchange rate peg to the dollar has had less of an impact on its trade surplus with the United States than many observers have assumed.
PBoC will 'actively promote' exchange rate reform
The People's Bank of China said in a report released on Thursday 24 February that it will "actively promote" reform of the exchange rate regime this year.
UK, China plan cooperation on global economy
Britain and China agreed on Monday 21 February to work together to address the macroeconomic and structural challenges of the global economy.
PBOC's Wu: China needs to ease lending controls
China needs to move towards easing strict controls over private lending, legalizing the business in order to mitigate lending risk for banks, the China Business News reported, citing a senior official from the People's Bank of China.
A slow boat to yuan devaluation
This article says China is probably a decade away from a free floating yuan and full-blown capital liberalization. A more realistic option, it says, would be a two-stage program that involves a widening of the yuan trading band and the adoption of a…
China to restrict use of RMB image on internet
Anyone who wants to use images of Chinese currency (RMB) on the internet will have to get approval from the People's Bank of China, or otherwise will face fines of up to 30,000 yuan (3,627 US dollars), a draft regulation said.
Li says China hopes to join FATF
A People's Bank of China official said on Wednesday 16 February that the country hopes to become a full member of the Financial Action Task Force, a global body that develops policies to combat money laundering and terrorist financing.
Zhou on corporate governance & capital markets
In a speech 'Improve corporate governance and develop capital market' given on In the speech 'Improve corporate governance and develop capital market' given 1 December (published 28 Jan), Zhou Xiaochuan of the People's Bank of China said the development…
FATF welcomes China as an observer
The Financial Action Task Force (FATF), meeting in Paris from 9 to 11 February 2005, has welcomed for the first time the People's Republic of China to attend its Plenary meeting as an observer.
ADB chief urges flexible exchange rates for China
Speaking to reporters on Tuesday 7 February, the head of the Asian Development Bank urged China to adopt a more flexible currency exchange system, saying that removing the yuan's peg to the US dollar would be good for both Beijing and its neighbours.
PBOC chief Zhou says China on track to reform
China is very much on the track toward an exchange rate reform in response to the demand of the world's richest nations for a more flexible exchange regime, China's central bank chief told Xinhua News in an interview.
PBOC's Xiaochuan on legal & financial system
In the speech 'Improve legal system and financial ecology' given on 2 December (published 28 Jan) Zhou Xiaochuan of the People's Bank of China told the "Forum of 50 Chinese Economists" that from the perspective of the central bank, he wishes them to work…
China rejects US threat on yuan
A threatened US bill which would give China six months to revalue its exchange rate before facing sanctions was criticised by the Foreign Ministry as the wrong way to handle the situation.
Germany expects few ex rate developments at G7
The German government does not expect any significant developments on exchange rate policies at the upcoming Group of Seven (G7) meeting of industrialised nations, AFX quoted sources as saying.
POBC sees gradual move to market interest rates
The People's Bank of China said on Tuesday 1 February thatit will proceed with establishing a market-oriented interest rate regime in a series of gradual moves timed to ensure the viability of the commercial banks.
Interview with San Francisco Fed's Janet Yellen
Federal Reserve Bank of San Francisco president Janet Yellen gave an interview this week in which she expressed optimism about the US economy. The world economy looks on track for moderate growth and China has been trying to moderate its growth with the…
Boca Raton statement likely to be kept at G7
US Treasury Undersecretary John Taylor said on Friday 28 January the Group of Seven is likely to keep the same statement on foreign exchange at its meeting next week as it did in Boca Raton, Florida last year.
PBOC's Zhou says China open to yuan discussion
People's Bank of China governor Zhou Xiaochuan was reported as saying that China is open to discussing the yuan exchange rate at the upcoming G7 finance ministers meeting but will not be pressured on any appreciation.
PBOC, modelled on Fed, bows to politics
When China's top policy makers set out to streamline the country's 57-year-old central bank system six years ago, they chose the U.S. Federal Reserve as a model, this article says. But while the People's Bank may be gaining clout as China's economy grows…
China's reserves top US $500bn in 2004
China's foreign exchange reserves hit a record US$609.9 billion in 2004, soaring at a rate of US$206.7 billion over 2003, according to the People's Bank of China.
PBOC chief Zhou pledges on convertible yuan
China reaffirmed its commitment to allowing free movement of the yuan on the capital account, with PBOC chief Zhou Xiaochuan promising further steps this year.
A higher yuan: When, not if
Sooner or later, China will have to hike its currency against the dollar, this article argues. The peg which keeps the yuan's value fixed against the greenback, has been the 'bete noire' of U.S. manufacturers, who complain that it gives Beijing an unfair…
PBOC to support corporate bond issues
The People's Bank of China will support more corporate bond issues to diversify risk and ease pressure on commercial banks, vice-governor Wu Xiaoling said.
Krueger on China and the global economic recovery
In a speech on 'China and the global economic recovery' given on 10 January, Anne Krueger of the IMF said that China has not been able to moderate its rapid economic growth despite taking a series of steps to achieve a soft landing for the world's most…