Saturday, October 24, 2020
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Tag: Yuan

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...

Beijing Expected to Bolster Yuan Before Visit by Trump

Currency strategists expect the People's Bank of China to push the Chinese yuan higher in the lead up to Donald Trump's visit to Beijing...

Central Bank Determined to Drive Internationalisation of the Yuan

China's central bank has reaffirmed its determination to promote the internationalisation of the Chinese yuan. In the 2017 yuan internationalisation report posted on its official...

Central Bank Insiders Push for Greater Exchange Rate Flexibility

A new report from a leading Chinese think tank has called for the central bank to give the exchange rate greater latitude of movement. The...

Central Bank Seeks to Contain Renminbi’s Rise

The People's Bank of China has changed tack on exchange rates following ongoing gains in the yuan against the greenback. The Chinese yuan central parity...

Seven-Year China Bear Turns Bull After $240 Million Loss on RMB Shorts

A US hedge fund manager has abandoned his bearish outlook on the Chinese economy after losing over USD$240 million betting on a currency collapse. Mark...

China’s Foreign Reserves Rise for Seventh Consecutive Month in August

The latest data from the central bank shows that China's foreign reserves continued to increase last month, with analysts pointing to capital inflows and...

RMB Central Parity Rate Against US Dollar Rises for Ninth Consecutive Trading Day

The Chinese yuan's central parity rate against the US dollar rose 42 basis points on 7 September to 6.5269, for the ninth consecutive trading...

Don’t Expect Renminbi to Become Safe Haven Just Yet: William Pesek

Bloomberg columnist William Pesek says that systemic risk in China's financial sector as well as laggard reform efforts on the part of Beijing are...

Has Stabilising the Yuan Undermined Ambitions for Its Internationalization?

Measures adopted by Beijing to curb capital outflows and stabilise the Chinese yuan may have undermined plans for its internationalisation and expanded usage in...

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Fintech Giant Lufax Pursues USD$2.36 Billion Stateside IPO

Chinese fintech giant Lufax has revealed more details on its plans to pursue an initial public offering (IPO) in the US despite...

China to Increase Qualified Domestic Institutional Investor Quota by around USD$10 Billion

China's forex administration has announced a further increase to the foreign investment quota for qualified domestic institutional investors (QDII).

Zhou Xiaochuan Weighs in on Internationalisation of the Renminbi at 2020 Financial Street Forum

Zhou Xiaochuan, the former head of the Chinese central bank, has voiced his opinions on the near-term prospects for the internationalisation of...

PBOC Launches Fintech Research Centre, Calls for “Comprehensive Increase” in China’s Fintech Competitiveness and Influence

A senior official from the People's Bank of China (PBOC) has called for the country to further drive efforts for the development...