The European Central Bank’s decision to swap some of its US dollar holdings for Chinese yuan could be a major milestone on the road towards internationalisation of the RMB.
Shanghai Interbank Offered Rates (SHIBOR) of all maturities have fallen, prompting the Chinese central bank to refrain from open market operations across a slew of successive days.
The Chinese yuan has risen to an eleven month high following ongoing weakness in the US Dollar Index.
A top executive from China Minsheng Investment says that the implementation of mixed ownership reforms for the immense Chinese state-owned enterprise sector will be the key to improving the country’s financial system.
A leading economics expert from Peking University says that some Fintech companies have already become players of systemic importance for the Chinese financial sector.
Leading economic and financial figures from China have used the 2017 Davos Forum as a venue to pillory Moody’s recent decision to downgrade the country’s sovereign credit rating.
The Chinese Academy of Social Sciences sees economic growth in China of 6.8% for the second quarter, and a good chance of the country meeting its full year growth target of 6.5%.
One of China’s leading economic experts contends that only the government will be responsible for the creation of any digital currencies that obtain legal tender status in future.
Chinese Premier Li Keqiang has sought to heighten China’s lustre in the eyes of foreign investor by reassuring them that there will be no restrictions on the withdrawal of capital from the economy.
The head of MSCI says that the inclusion of Chinese A-shares in its emerging market index could be expedited by regulator’s dialling back cross-border transaction curbs, thus helping to spur a sizeable influx of overseas capital into China’s stock market.