China
Beijing looks to further internationalise renminbi
People’s Bank of China says it must work to match growing demand for renminbi outside of mainland; sets out further steps including opening domestic market to international institutions
RBA’s Lowe on links with China
Reserve Bank of Australia assistant governor notes stronger correlation between Chinese and Australian GDP
BoE’s Haldane: China must not overshoot on financial reform
Bank of England executive director Andrew Haldane says China must continue to promote patience while harnessing impatience
India and China set to drive global demand for gold
World Gold Council says demand for gold jewellery in India and China will ensure robust gold market in 2010
Ability of Bric nations to revive global economy exaggerated, say analysts
The contribution of Brazil, Russia, India and China to the world economy is still too small to compensate for low demand in advanced economies.
Beijing welcomes world into interbank capital market
People’s Bank of China grants foreign banks and central banks access to interbank bond markets for the first time; move inspired by need to internationalise the renminbi
China overtakes Japan as world’s second largest economy
Figures from Japanese Cabinet Office show that China’s GDP exceeded that of Japan in the three months to June
CIC arm to raise $28 billion through bond issuance: reports
Central Huijin Investment, part of China’s sovereign wealth fund, set to offer bonds to private investors; joins state investment companies in Singapore and the Middle East in tapping bond markets
CIC denies interest in UK football club: reports
Chinese sovereign wealth fund refutes suggestions that it is funding a bid to buy Liverpool Football Club
PBoC announces plans to deregulate gold market
People’s Bank of China says it will provide more commercial banks with access to global gold markets to address growing demand
China now world’s second-largest economy, says PBoC’s Yi
People’s Bank of China vice governor Yi Gang says China has overtaken Japan
Former HKMA head Yam set to join UBS board
Swiss investment bank UBS nominates HKMA former chief executive Joseph Yam as candidate to its board of directors.
Yam joins China Investment Corporation
Former HKMA chief executive Joseph Yam appointed to sovereign wealth fund’s international advisory council
Bank of Canada: Chinese shocks have global bearing
Bank of Canada study shows China’s monetary policy is less effective at weathering shocks and country must be incorporated in global models
Italy’s Draghi warns against protectionist measures
Bank of Italy governor Mario Draghi says trade relations have been set back due to financial crisis, leading to more protectionism
Markets rejoice as Beijing reverts to managed float
Investor risk appetite soars as China drops the renminbi’s rigid dollar peg; analysts say Beijing’s policy shift sparked by potential benefits, rather than international pressure
PBoC to regulate non-bank payments providers
People’s Bank of China sets out new legislation governing non-financial institutions that provide payments services; law an attempt to shed light on burgeoning payments network
PBoC’s Du promoted to deputy governor: reports
People’s Bank of China has promoted assistant governor Du Jinfu to deputy, according to news reports; Du replaces Su Ning, who is past official retirement age
China bubble unlikely to derail recovery: St Louis Fed's Bullard
St Louis Federal Reserve president James Bullard says concerns over bubble in China are over exaggerated
HKMA flags potential for asset-price bubble from renminbi appreciation
Hong Kong Monetary Authority study suggests currency’s appreciation may have significant effects on asset prices
HKMA appoints PBoC’s Mu as senior adviser
Former People’s Bank of China director general Mu Huaipeng joins Hong Kong Monetary Authority in bid to boost mainland ties
China’s Li calls for tightening on back of housing bubble fears
People’s Bank of China monetary policy committee member Li Daokui warns economy may overheat unless tighter monetary policies are put in place
China denies reviewing eurozone bond holdings
State Administration of Foreign Exchange dismisses reports that it is appraising euro asset holdings; follows surge in T-bill purchases last week
US, Chinese regulators sign cross-border resolution deal
Federal Deposit Insurance Corporation and China Banking Regulatory Commission to cooperate and write shared contingency plans for cross-border failures; move follows United Commercial Bank failure