China
Renminbi to be reserve currency in less than five years: CB.com poll
A poll of CentralBanking.com readers finds most believe the Chinese currency will account for more than 5% of global reserves in less than five years
IMF and China make joint call for stronger financial stability assessments
People’s Bank of China and International Monetary Fund hold joint symposium in Shanghai; call for better financial stability assessments in Asia and worldwide
Chinese labour costs contributed to US job losses: Fed paper
Federal Reserve study says decline in US manufacturing employment was largely attributable to relatively low investment and slow growth in the US, rather than China's competitive labour market
Thailand and China ease monetary policy
Thailand cuts benchmark rate and China lowers reserve ratio as eurozone crisis impact is felt in Asia; Thailand also keen to combat effects of devastating floods
China central bank official nominated to join private bank’s board
Wang Hongzhang tipped to become chairman of the China Construction Bank Corporation after unanimous nomination to join board of directors; will leave People’s Bank of China after a long career there
China and Hong Kong double currency swap agreement
Hong Kong and China double currency swap arrangement; Hong Kong pushes to remain number one offshore renminbi business centre while China proceeds with internationalisation of renminbi
Industry praises expansion of South Korea’s currency swap arrangements
Senior executives of large enterprises praise Bank of Korea for expanding currency swaplines with Japan and China; industry concerned about slowdown caused by eurozone crisis
BIS paper finds tightening bias in reserve requirements
Bank for International Settlements study says reserve requirements impose tax burden on Chinese banks, which is passed on to depositors and SMEs
IMF calls on China to overhaul its financial system
Fund review says China’s real estate sector faces a steady build-up in vulnerabilities; believes reforms to the country’s financial system are crucial to stability in the region
Hong Kong: where next?
Can the symbiotic relationship between Hong Kong and the renminbi continue? Chen Chao looks at the potential for growth – and competition.
Beijing’s second thought
Hui Feng examines the political calculus behind increasing international flows of China’s currency.
Tracking China’s currency
Ren Kangyu looks at how China’s currency has extended its reach beyond the mainland in the short space of seven years.
Lagarde holds crucial talks with Beijing
IMF managing director Christine Lagarde meets Chinese premier Wen Jiabao to discuss the country’s economic response to the global slowdown; warns international economy could face lost decade of growth
National Bank of Austria to invest in renminbi-denominated assets
People’s Bank of China and National Bank of Austria sign agreement enabling the Austrian central bank to invest in renminbi-denominated assets
Trichet says China funding request is right thing to do
Outgoing ECB president denies it is embarrassing or humbling for Europe to have to ask other countries for financial support; insists it is "absolutely normal" in today’s global world
ECB paper highlights renminbi’s prominence in Asia
European Central Bank study says China’s growing dominance in Asia is key driver of currency movements in region
Korea and China renew currency swap deal early
People’s Bank of China and Bank of Korea agree to renew and expand currency swap arrangement; also discuss converting swap currencies into reserves
Chinese officials jailed over information leaks
Two government officials are given lengthy prison sentences; found to have leaked information on economic growth, retail sales and inflation figures
China banking regulator talks of reform ‘determination’
Liu Mingkang says rating agencies and analysts “underestimate” China’s determined reforms to the banking sector; warns of shadow banking clamp down
RMB’s rise to reserve currency status accelerates
Renminbi progresses towards becoming a reserve currency in its own right; a number of central banks have begun to diversify into the Chinese currency
Priorities shift for reserve managers
Central bank reserve managers discuss focusing on safety of investments after the financial crisis; see uncertain future for global financial system
China slams US bill penalising renminbi imports
People's Bank of China says it firmly opposes bill passed by US Senate to impose countervailing duties on imports from countries undervaluing their currency
RBA announces representative in China
Ivan Roberts to open Reserve Bank of Australia representative office in Beijing; will assist with monitoring of economic and financial conditions in China
Bank of Finland forecasts China’s economy to slow
Bank of Finland Institute for Economies in Transition says growth in China is expected to weaken to 9% in 2011 from 10.4% in 2010