China

PBOC to reveal more details on yuan in next step

The People's Bank of China said on Friday 29 July that it will provide more details of its revaluation of the yuan in the next step, including more information on the basket of currencies for the yuan exchange rate.

China advisor sees second yuan revaluation in 2006

Zhang Shuguang, a former senior fellow at China's Academy of Social Sciences, the government's leading research body, said he expects a second revaluation of the yuan of between 2-3% in 2006 as hot money pressures are likely to force further adjustment.

Statement by People's Bank of China on yuan

The People's Bank of China issued a statement on Tuesday 26 July which played down market speculation of further rises of the yuan after last week's 2.1-percent yuan revaluation.

RBI sees consequences from China rate move

The Reserve Bank of India said on Tuesday 26 July that the shift in exchange rate policy announced by China was likely to have important consequences for the global economy.

PBOC denies reports on currency

The People's Bank of China warned on Tuesday 26 July that it has no plans to allow sharp increases in the yuan's value, saying a 2 per cent increase last week was part of an exchange-rate reform and not an initial step to more increases.

Reports claim China told US of yuan plan

News reports on Monday 25 July said that US officials were informed by the Chinese government in advance of its decision to drop its currency's link to the dollar last week and raise its exchange rate.

China cb adviser says revaluation buys time

Yu Yongding, a member of China's central bank monetary policy committee said in remarks published Monday 25 July that last week's 2.1 percent revaluation of the yuan and an accompanying shift to a managed float buy time for China.

China's currency conundrum

This article published on Thursday says that China's decision to revalue its currency by 2.1% and introduce a new currency basket for determining future exchange rate moves is an important step in the evolution of the country's monetary policy and…

Interview with PBOC's spokesman on exchange rate

Following the announcement by the People's Bank of China that the country will implement a regulated, managed floating exchange rate system based on market supply and demand, the People's Daily Online edition carried an interview with the PBOC's…

Japan welcomes China yuan decision

Japan welcomed China's decision on Thursday 21 July to end its currency's peg to the U.S. dollar and other Asian officials said they were closely watching developments.

China easing forex controls to help overseas firms

China will loosen its foreign exchange controls to give more financing support to overseas Chinese companies as the central government moves to encourage domestic firms to invest abroad, the official Financial News reported, citing a government official.

China says no timetable for yuan move

The US administration has told key senators that it expects China to revalue the yuan in August before President Hu Jintao visits Washington in September, the Financial Times reported on Friday 15 July.

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