China
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.
China to further open gold market
The People's Bank of China has stopped taking in gold of purity below 99.95 percent from Chinese firms in a small step to open the precious metals sector further.
China hints at looser dollar peg
China's central bank new description of its exchange rate policy hints at plans to allow greater movement against the US dollar.
Currency peg puts heat on China's economy: Fed
Federal Reserve chairman Alan Greenspan said on Thursday 11 December that China's currency peg with the US dollar may need to end if it is to prevent its economy from overheating. In a speech to the World Affairs Council of Dallas, reported by Bloomberg,…
Yuan undervalued by 30 pct or more: Japan's Kuroda
China could face a serious asset price bubble or inflation if it does not increase the value of the yuan. Former top Japanese policymaker Haruhiko Kuroda told an IMF seminar, according to a Reuters report: "If the current exchange rate regime is…
CBC vows to maintain its independence
Central Bank of China governor Perng Fai-nan has pledged never to implement any measures violating the regulations of the Central Bank of China Law, according to a report by the China Post. Perng made the pledge when he was questioned about the CBC's…
PBOC to discuss Hong Kong yuan operations
The Hong Kong Monetary Authority is holding meetings this week with officials from the People's Bank of China, Dow Jones reported. Officials from PBOC will discuss what operations Hong Kong's banks can conduct on the yuan from next year.
Central bank finest go East
After retiring from the Bank of England Sir Edward George joined the boards of NM Rothschild, Grosvenor, the Duke of Westminster's property group and Swiss confectioner Nestle, swapping gold bars for chocolate bars in the process. But now Sir Eddie, and…
PBOC issues coins marking lunar new year
The People's Bank of China began issuing a set of commemorative coins on Friday 21 November, according to a report by Xinhuanet, marking the Chinese year of the Monkey. The set includes six gold and six silver coins.