China
IMF: Global economy too dependent on US, China
The International Monetary Fund will say in its latest World Economic Outlook report that the global economy is too dependent on growth in the United States and China, the German business daily Handelsblatt reported on Monday 7 March .
PBOC's Zhou doesn't see deflation threat
China's economy is not in a deflationary stage because the consumer price index continues to rise on a monthly basis, the Securities Times reported, citing Zhou Xiaochuan, governor of the People's Bank of China.
China needs flexible yuan, BOJ's Hirano says
China will adopt a more flexible currency as the nation overhauls its financial system and capital markets, said Eiji Hirano, a Bank of Japan executive director.
China spends US$195b maintaining yuan peg
The People's Bank of China spent 1.61 trillion yuan (US$195 billion) buying foreign currency last year to maintain the yuan's peg with the dollar, a rise of 40 per cent over 2003.
China to let foreign agencies sell yuan bonds
China will allow global agencies such as the World Bank to sell yuan-denominated bonds for the first time, the People's Bank of China said in a statement on its website.
China sets route to currency reform
China will gradually open its capital account in 2005, another step in its plan to make the yuan currency fully convertible, state television quoted the country's foreign exchange chief as saying on Saturday.
PBOC's Xiaoling on the corporate bond market
In the speech 'Develop corporate bond market to improve financial asset structure' given on 17 January (published 7 Feb), Wu Xiaoling of the People's Bank of China said advancing the development of the corporate bond market is of realistic significance…
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 will 'actively promote' exchange rate reform
The People's Bank of China said in a report released on Thursday 24 February that it will "actively promote" reform of the exchange rate regime this year.
UK, China plan cooperation on global economy
Britain and China agreed on Monday 21 February to work together to address the macroeconomic and structural challenges of the global economy.
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 chief Zhou says China on track to reform
China is very much on the track toward an exchange rate reform in response to the demand of the world's richest nations for a more flexible exchange regime, China's central bank chief told Xinhua News in an interview.
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.
Germany expects few ex rate developments at G7
The German government does not expect any significant developments on exchange rate policies at the upcoming Group of Seven (G7) meeting of industrialised nations, AFX quoted sources as saying.
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…
Boca Raton statement likely to be kept at G7
US Treasury Undersecretary John Taylor said on Friday 28 January the Group of Seven is likely to keep the same statement on foreign exchange at its meeting next week as it did in Boca Raton, Florida last year.