China
Zhou highlights need for ‘financial connectivity’ under Belt and Road
Initiative has sizeable financing demands that will require efforts to improve cross-border financial links, PBoC governor says
BIS report points to benefits and costs of fintech lending
China, the US and the UK are the three largest markets, the working group’s report says
PBoC and HKMA announce Bond Connect scheme
The current phase only allows overseas institutional investors to invest in China's bond market
PBoC deepens interest in fintech with new committee
Fintech committee will be charges with investigating the pros and cons of financial innovation and producing guidelines where appropriate; China’s central bank deepens cooperation with IMF
All aboard the blockchain
The underpinning architecture of bitcoin and other crypto-currencies – distributed ledger technology – has the potential to revolutionise digital payments, with some central banks working out how to harness ‘the blockchain’
Book notes: Gaining Currency, by Eswar Prasad
A detailed study into the renminbi’s journey to becoming the reserve currency, taking a close look at the hurdles it has overcome and what obstacles remain in its way to competing on the global stage
China’s NPL problem has ‘stabilised’ – PBoC’s Yi
Deputy governor says non-performing loans are “pretty much stabilised” and capital outflow pressures have declined
PBoC’s Zhou: 6.5% growth target is ‘within reach’
Governor says he believes China’s growth target is attainable, as he urges countries to remain open to trade and investment
IMF warns bad political choices could trigger instability
Fund says financial stability has improved, but high risks remain in China, Europe and the US
China forex reserves inch higher in March
PBoC figures show increase of $3.96 billion, resulting in second consecutive monthly reading above $3 trillion
Singapore to work with China on capital market development, MAS’s Loh says
“Wider suite” of risk management tools needed to stem risks rising from capital market liberalisation; opportunities to coordinate on other Chinese initiatives
Central banks eye gold amid global uncertainty
Rising inflation and the unclear impact of Trump administration policies may lead reserve managers to view gold – and inflation-linked bonds – more favourably
IMF paper examines impact of China’s new growth model on sub-Saharan Africa
Chinese rebalancing does not have to negatively affect sub-Saharan Africa, paper says; high commodity prices were not the “determining factor” behind region’s strong growth
Bank of Finland publishes China and Russia forecasts
Chinese targets “encourage data manipulation”; Russia stalls on structural reforms
PBoC appoints two to monetary policy committee
Guo Shuqing and Ding Xuedong join policymaking panel in reshuffle of senior officials
HK researchers ask how much markets affect RMB fixing
Researchers test China’s assertion the exchange rate is now determined more by markets, finding mixed evidence
Russian central bank opens first overseas office in Beijing
Russian and Chinese authorities announce a collaboration on payment systems and money laundering prevention
PBoC working to rein in shadow banking risks
Central bank is toughening its regulatory stance and tightening interbank liquidity as shadow banking products proliferate
Chinese bitcoin exchanges continue prohibiting withdrawals
Bitcoin exchanges suspend withdrawals indefinitely following statement from PBoC official; central bank does see benefits to the technology
Politics now driving markets more than central banks – BIS review
“Precipitous decline” in correlations implies markets no longer in thrall to central bank policy; US dollar credit still on the rise despite MMF reform; tensions in Chinese markets
Finnish paper analyses Chinese central bank’s ‘window guidance’
PBoC may have to move away from using lending quotas, researchers argue
IMF warns Bank of Mongolia against fiscal financing
Latest round of funding contingent on central bank making changes, mission chief says; support provided to help government deal with bond default, but fiscal changes must be made
Asia needs new growth model – BoJ’s Kuroda
Region can no longer serve as “the workshop of the world” as the trade in goods slows down, says the Bank of Japan governor
PBoC issues second warning to bitcoin exchanges
Nine platforms told to enforce AML and forex regulation if they are to continue operating within China; bitcoin price holds firm against news