Thursday, December 3, 2020
Tags Foreign exchange

Tag: Foreign exchange

HSBC Becomes First Global Bank to Remit Offshore Renminbi Back to China

Beijing is driving further internationalisation of the renminbi, with HSBC emerging as the first international bank to remit the currency back to China from...

Forex Regulator Permits Cash Settlement of Forwards Contracts

China's State Administration of Foreign Exchange has announced that it will permit the cash as well as physical settlement of foreign exchange forwards as...

PBOC Chief’s 2012 Speech on Capital Account Convertibility Does the Rounds Once More

A speech delivered by Chinese central bank governor Zhou Xiaochuan in 2012 on the issue of China's capital account convertibility has risen to the...

Bank Foreign Exchange Settlement and Sales Deficit Reaches USD$7.5 Billion in November

The foreign exchange settlement and sales deficit for Chinese banks reached USD$7.5 billion in November, for a sizeable reverse compared to the surplus posted...

UK Set to Open London’s Spot Forex Markets to Chinese Banks

UK chancellor Philip Hammond will announce the opening of London's foreign exchange markets to direct access by Chinese banks during an official visit to...

Chinese Banks Gear up for Bigger Exchange Rate Swings

Chinese banks are loading up on foreign currency with the expectation that Beijing will permit increased flexibility of the renminbi's exchange rate. Data from the...

Foreign Exchange Chief Says Opening Up of China’s Finance Sector Remains Strategic Imperative

One of China's senior-most central bank and foreign exchange officials has reiterated the importance of opening up the country's financial sector, while also flagging...

Forex Settlement Deficit of Chinese Banks Drops 46% in First Half of 2017

The latest data from China's State Administration of Foreign Exchange indicates that Chinese banks saw a major diminution in their foreign exchange settlement deficit...

Funds Outstanding for Foreign Exchange Declines Faster in June

The Chinese central bank's funds outstanding for foreign exchange fell for the 20th consecutive month in June. The People's Bank of China's official data indicates...

China’s Foreign Exchange Authority Pushes for Greater Outbound Investment

China's State Administration of Foreign Exchange has announced that it would provide greater support to overseas investment and trade by Chinese enterprises that are...

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32 County-level Cities in China Have GDP’s in Excess of USD$15 Billion

A new report from the Chinese Academy of Social Sciences (CASS) points to the rising affluence of regional urban centres.

China Expected to Account for over 1/3 of Global GDP Growth in 2021

China's early recovery from the impacts of the COVID-19 pandemic is expected to make it the biggest contributor to global economic growth...

Shanghai and Shenzhen Bourses See over 340 IPO’s in 2020: CSRC

Data from the China Securities Regulatory Commission (CSRC) released on 1 December indicates that the Shanghai Stock Exchange and the Shenzhen Stock...

Central Bank Governor Warns against Deficit Monetisation, Calls for Improvements to Money Supply Adjustment Mechanisms

People's Bank of China (PBOC) governor Yi Gang (易纲) has warned against monetisation of the Chinese deficit in the wake of stimulus...