China
PBOC's Zhou says China open to yuan discussion
People's Bank of China governor Zhou Xiaochuan was reported as saying that China is open to discussing the yuan exchange rate at the upcoming G7 finance ministers meeting but will not be pressured on any appreciation.
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…
China's reserves top US $500bn in 2004
China's foreign exchange reserves hit a record US$609.9 billion in 2004, soaring at a rate of US$206.7 billion over 2003, according to the People's Bank of China.
PBOC chief Zhou pledges on convertible yuan
China reaffirmed its commitment to allowing free movement of the yuan on the capital account, with PBOC chief Zhou Xiaochuan promising further steps this year.
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…
PBOC to support corporate bond issues
The People's Bank of China will support more corporate bond issues to diversify risk and ease pressure on commercial banks, vice-governor Wu Xiaoling said.
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…
IMF on interest-rate liberalization in China
A recently published article by two members of the IMF's China Division looks at the recent decision by the People's Bank of China to raise interest rates for the first time in nine years. The liberalization of rates is a landmark change, it says, and…
China's monetary policy may not tighten-PBOC
China's recent pledge to conduct a prudent monetary policy does not necessarily mean the bank will continue its credit tightening measures, the China Securities Journal reported, citing a People's Bank of China official.
PBOC pledges to work on yuan reform
The People's Bank of China said on Tuesday 4 January that it plans to move forward with currency reform in 2005, but repeated its long-time pledge to keep the yuan stable.
China seeing gold-buying surge as dollar hedge
China is seeing a gold-buying surge as a hedge against the weakening dollar and negative real interest rates, the South China Morning Post reported, citing figures from the China Gold Society and analysts.
SAFE spokesman says China central bank 'sound'
The People's Bank of China is "in sound financial condition," as a result of its strategies and achievements in managing the country's foreign exchange reserves, according to a spokesman for China's State Administration of Foreign Exchange (SAFE) on…
World Bank says Chinese economy not over-heating
Chief of the economics unit of the World Bank's Beijing office, Bert Hofman denied that the Chinese economy is overheating, saying that he expects 9.2 per cent to 9.3 per cent growth for China, "which is by and large a good thing."
China's Xiaochuan on gold market & risk hedging
In a speech on 'Gold market functions to hedge against risks' given on 6 September , Zhou Xiaochuan of the People's Bank of China said we see as central bankers, that a developed gold market can help to complement the monetary policy instruments and…
PBOC's Zhou says rigid ex rates pose 'huge risks'
Governor Zhou Xiaochuan of the People's Bank of China said the country's currency peg is a hazard for banks and companies, according to a published report.
China announces 'prudent' economic polices for 05
China announced on Thursday 2 December economic planning adjustments for 2005 that will change current "pro-active" fiscal and monetary policies into more "prudent" measures.
PBOC deputy governor sees no RMB reform timetable
Regulators may let China's four biggest state banks become market makers in US dollar trading, clearing the way for less currency intervention by the central bank, a state-run newspaper reported on Monday 29 November.
PBOC deputy says US should not blame others
A senior official with the People's Bank of China has warned the United States not to blame other countries for its own economic difficulties, a report said.
PBOC's Zhou says fx liberalisation not ready
People's Bank of China Governor Zhou Xiaochuan told reporters on Saturday November 20 that China is not ready yet to liberalise its exchange rate.
PBoC's Zhou says policy to favour stability in 05
China's monetary policy will lean towards stability next year, Zhou Xiaochuan, governor of the People's Bank of China, was quoted as saying in the China Securities Journal.
China's Zhou on prospects for a soft landing
The governor of the People's Bank of China claims that China's economy is on course to avoid a hard landing, and that measures taken by the central bank to cool the economy are working.
The leak in China's banking system
The People's Bank of China's surprise decision to raise interest rates for the first time in nine years on 28 October prompted much speculation on the reason for the move. Some commentators said it marks the beginning of a liberalized interest-rate…
PBOC deputy says no timetable for revaluation
People's Bank of China Deputy Governor Guo Shuqing said on Tuesday 9 November, on the sidelines of the G10 meeting in Basel, that China had no timetable for a revaluation of its currency.
Kennedy on the Canadian and American economies
In a speech on 'The Canadian and American Economies: Integration, Not Convergence' given on 4 November, Sheryl Kennedy of the Bank of Canada compares aspects of the Canadian and US economies, discussing their similarities and their differences. She…