China

Report says China peg impact overstated

Research published by the Federal Reserve Bank of Cleveland on Thursday 24 February said that China's exchange rate peg to the dollar has had less of an impact on its trade surplus with the United States than many observers have assumed.

PBOC's Wu: China needs to ease lending controls

China needs to move towards easing strict controls over private lending, legalizing the business in order to mitigate lending risk for banks, the China Business News reported, citing a senior official from the People's Bank of China.

A slow boat to yuan devaluation

This article says China is probably a decade away from a free floating yuan and full-blown capital liberalization. A more realistic option, it says, would be a two-stage program that involves a widening of the yuan trading band and the adoption of a…

China to restrict use of RMB image on internet

Anyone who wants to use images of Chinese currency (RMB) on the internet will have to get approval from the People's Bank of China, or otherwise will face fines of up to 30,000 yuan (3,627 US dollars), a draft regulation said.

Li says China hopes to join FATF

A People's Bank of China official said on Wednesday 16 February that the country hopes to become a full member of the Financial Action Task Force, a global body that develops policies to combat money laundering and terrorist financing.

Zhou on corporate governance & capital markets

In a speech 'Improve corporate governance and develop capital market' given on In the speech 'Improve corporate governance and develop capital market' given 1 December (published 28 Jan), Zhou Xiaochuan of the People's Bank of China said the development…

FATF welcomes China as an observer

The Financial Action Task Force (FATF), meeting in Paris from 9 to 11 February 2005, has welcomed for the first time the People's Republic of China to attend its Plenary meeting as an observer.

ADB chief urges flexible exchange rates for China

Speaking to reporters on Tuesday 7 February, the head of the Asian Development Bank urged China to adopt a more flexible currency exchange system, saying that removing the yuan's peg to the US dollar would be good for both Beijing and its neighbours.

PBOC's Xiaochuan on legal & financial system

In the speech 'Improve legal system and financial ecology' given on 2 December (published 28 Jan) Zhou Xiaochuan of the People's Bank of China told the "Forum of 50 Chinese Economists" that from the perspective of the central bank, he wishes them to work…

China rejects US threat on yuan

A threatened US bill which would give China six months to revalue its exchange rate before facing sanctions was criticised by the Foreign Ministry as the wrong way to handle the situation.

POBC sees gradual move to market interest rates

The People's Bank of China said on Tuesday 1 February thatit will proceed with establishing a market-oriented interest rate regime in a series of gradual moves timed to ensure the viability of the commercial banks.

Interview with San Francisco Fed's Janet Yellen

Federal Reserve Bank of San Francisco president Janet Yellen gave an interview this week in which she expressed optimism about the US economy. The world economy looks on track for moderate growth and China has been trying to moderate its growth with the…

PBOC, modelled on Fed, bows to politics

When China's top policy makers set out to streamline the country's 57-year-old central bank system six years ago, they chose the U.S. Federal Reserve as a model, this article says. But while the People's Bank may be gaining clout as China's economy grows…

A higher yuan: When, not if

Sooner or later, China will have to hike its currency against the dollar, this article argues. The peg which keeps the yuan's value fixed against the greenback, has been the 'bete noire' of U.S. manufacturers, who complain that it gives Beijing an unfair…

Krueger on China and the global economic recovery

In a speech on 'China and the global economic recovery' given on 10 January, Anne Krueger of the IMF said that China has not been able to moderate its rapid economic growth despite taking a series of steps to achieve a soft landing for the world's most…

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