China
PBOC says advisable to maintain stable yuan
China's yuan exchange rate should be kept at a relatively stable level given the recent emergence of trade deficits, a People's Bank of China official said on Wednesday 10 March in an editorial in a China daily.
PBOC says no plan to revalue yuan soon
Deputy governor Li Ruogu of the People's Bank of China said on Sunday 7 March that China does not plan to revalue the yuan in the near future and that the dollar pegged currency is valued correctly.
Fed says foreign central banks buying record debt
Holdings of U.S. debt by foreign central banks have hit a new record, the Federal Reserve said on Thursday 4 March, the 19th straight week that purchases of Treasury and agency paper have risen.
PBOC repeats plan to perfect exchange rate regime
China plans to give the market a greater role in setting the exchange rate for the yuan, but will keep the fixed currency basically stable for now, the country's foreign exchange chief said on Friday 5 March.
China to keep monetary policy & yuan stable in 04
China's Premier Wen Jiabao will tell parliament on Friday 5 March that China will retain stable monetary policy and proactive fiscal policy in 2004, but aims to pare down lending to duplicate projects to curb over-investment.
China rejects Greenspan's forex warning
China dismissed warnings by Fed chief Alan Greenspan that it faces serious economic consequences if it continues to mount up massive US dollar holdings as it defends the dollar pegged yuan system.
Greenspan says yuan float now would pose risks
A letter from Alan Greenspan to the US Senate has said that a free-floating yuan could threaten the world economy and destabilise the Chinese banking system if capital controls are removed.
China plans central bank inspection
China plans to launch an extensive inspection of the central bank as well as three policy banks and five commercial banks, in an effort to strengthen state supervision over China's ailing banking sector, the official news agency said.
China's Premier suggests end to yuan's dollar peg
China's Premier Wen Jiabao has said that the country is working toward a more flexible exchange rate mechanism for the value of the yuan, the first clear statement that the government aims to end the currency's nine-year fixed link to the dollar.
Floating the renminbi is a red herring
This article by Gerald P O'Driscoll Jr and Lee Hoskins says the citizens of both China and the US will benefit when China moves closer to a market economy. But in the meantime, the leaders of both countries need to avoid protectionism in all forms,…
China and US meet on yuan, but no quick fixes seen
U.S. and Chinese officials met on Wednesday 25 February for talks on China's financial policies, including discussion on the yuan peg. John Snow said he understood Chinese policymakers arguments that China cannot change yuan policy overnight.
US - China group on currency to meet this week
A six-member US delegation will meet with officials from the People's Bank of China this week to discuss various financial issues including currency and banking matters.
The East Asian Dollar Standard
This article by Prof. Ronald McKinnon of the Stanford Institute for Economic Policy Research says that calls for China to revalue the yuan or allow it to float upward are not the answer. East Asian countries would be better served pegging to the dollar…
PBOC reaffirms stability of renminbi
The People's Bank of China denied speculation on Wednesday that China's financial authorities have decided to appreciate the nation's currency in the near future.
US and China plan currency talks
Officials from the US Treasury will visit China in the next couple of weeks to discuss the renminbi and how China could increase flexibility in its exchange rate system.
Asian currencies may be linked to China's yuan
In an interview, Avinash Persaud said that people have tended to view Asia as being on a dollar peg when in reality it is, in his view, on a renminbi peg. He also said it was unlikely the Chinese would respond to criticism of their currency regime but…
Zhou: China's 'stable and healthy' monetary policy
People's Bank of China Governor Zhou Xiaochuan said on Tuesday 10 February that China will allow its money supply and credit loans to keep growing at an appropriate pace in 2004.
PBC rejects renminbi revaluation talk
An official at the People's Bank of China has refuted speculation in local media that it may be planning to revalue the renminbi this coming March, allowing China's currency to rise by 5% against the U.S. dollar.
PBOC offers huge reward to Olympic coin designer
The People's Bank of China announced on Tuesday 3 february that it will pay up to 1.5 million yuan (US$181,378) for winning commemorative coin designs for the 2008 Olympic Games.
OECD: China unlikely to move to float currency
According to an OECD economist, China is unlikely to move soon to float its currency despite foreign pressure, but needs to reform its domestic financial system to gain greater flexibility in the exchange rate.
G7 want Asian FX rise, no dollar fall- IIE
The Group of Seven leading industrial nations want to put pressure on China and other Asian nations to let their currencies rise, a leading IIE economist said on Monday 26 January.
Bank cards get OK for Hong Kong use
Mainland-based banks have got agreement from the People's Bank of China to expand their bank card business in Hong Kong, even though overseas banks are still banned from issuing bank cards on the Chinese mainland.
Kohn on the United States in the world economy
Fed Governor Donald Kohn said on Wednesday 7 January that China would need more flexibility in its yuan currency "at some point", but acknowledged China faced complex problems.
PBOC appoints clearing bank for RMB business
The People's Bank of China has appointed Bank of China (Hong Kong) Limited as the Clearing Bank for RMB Business in Hong Kong.