Central Banks
Factor price reforms and their macroeconomic policy impact
The need for financial reforms to achieve sustainable growth is widely accepted. But the move towards interest rate liberalisation amid weak growth and low global rates remains a challenge
Developing China's capital market is central to 'new normal' reform
China is adopting an approval-based rather than disclosure-based IPO system as well as developing an OTC equity market as part of its effort to deepen the role of financial markets
China’s path to financial deepening
Despite China’s quick progress in the sphere of manufactured goods, the country’s financial system has been a few steps behind, but that is steadily changing
Five foundations for the reform of China
Cheng Siwei, chairman of IFF and former vice-chairman of the Standing Committee of the Ninth and Tenth National People’s Congresses, presents five foundations for aiding the country’s overall reform
Innovation gauntlet laid down to facilitate economic transformation
The continuity of China's ‘trial-and-error' social-reform philosophy is key to enabling innovative growth as the country reforms its capital market and develops sound bankruptcy procedures
'Learning by doing' has transformed Chinese growth
Learning through an experimental approach played an important role in the rapid productivity growth of China. But the country now faces rising income inequality
China's dual-economy poses major challenge for future development
China's unique central-local governance system facilitated growth through a ‘trial-and-error' strategy. But 35 years of high growth have created a dual economy, with both successful and failing parts
Chinese finance minister Lou Jiwei on local government debt and tax reform
Minister of finance Lou Jiwei talks about fiscal policy under China's 'new normal' and how the country plans to tackle spiraling local government debt
The transformation of China towards a modern economy
China has embarked on an unprecedented effort to stabilise growth while accelerating structural reforms towards an inclusive, sustainable, innovative and more open economy
PBoC’s Zhou Xiaochuan on interest rate reform and renminbi internationalisation
People’s Bank of China governor Zhou Xiaochuan speaks about the pace and timing of interest rate reform and the internationalisation of the renminbi
CBRC's Shang Fulin on reforming bank profit models and dealing with non-performing loans
China Banking Regulatory Commission chairman Shang Fulin discusses how China's banks will respond to major financial market reforms while also addressing issues related to non-performing loans
Yi Gang on China's new foreign exchange philosophy
State Administration of Foreign Exchange director Yi Gang discusses five changes in China's foreign exchange management as well as the long-term value of the renminbi
Minneapolis Fed begins hunt for next president
Narayana Kocherlakota will join the University of Rochester on January 1; search committee is hoping to appoint a ‘strategic thought leader’ to succeed him by the end of the year
Sponsored feature: Defining the ‘new normal’ in China
Setting ambitious targets and reaching them fast has been essential for more than three decades. But this growth-at-any-cost push is now being replaced with what China’s leaders call the ‘new normal’
Jacques de Larosière on the international monetary system and the euro
Christopher Jeffery speaks to former IMF managing director Jacques de Larosière about continuing efforts to restore the global financial system and where the future now lies for Europe
Chan wants Canadian firms to access China through HK
HKMA chief executive says Canada should ‘leverage on’ Hong Kong’s unique access to mainland capital markets in Toronto pitch
ECB paper emphasises productivity's role in export elasticity
Authors find a range of factors matter when assessing the response of exports to changes in the exchange rate, including productivity and both the type and magnitude of shocks
Noyer: IMF’s decision on SDR not politically motivated
Banque de France governor Christian Noyer acknowledges ‘symbolism’ of the IMF’s currency basket, but stressed the composition is based on technical work and not politics
Wilkins warns ‘a lot of work remains’ in implementing reforms
Canada’s senior deputy governor stresses need for coordination among regulators; suggests bilateral agreements could be useful given trend toward regional banking
Axel Weber slams ‘simplistic’ leverage ratio
Former Bundesbank president and now UBS chairman Weber says Basel III has not made the financial system better
Exchange launches asset-backed coins for asset managers
Asset managers will be able to trade physical assets directly with each other through new asset class dubbed ABCs, which will be tradeable on newly launched exchange Abacas