Hong Kong
PBoC launches renminbi reserve pool with BIS
Equivalent of $13.5 billion will be pooled by six central banks to withstand market volatility
Hong Kong and Taiwan raise rates
HKMA raises rates by 75bp, but local banks don’t follow, while Taiwan increases by 12.5bp
Nearly 30% of central banks implementing instant payments
Over half of respondents already oversee or operate instant payments
Central banks follow Fed with rate hikes
Several central banks have raised their policy rates in response to the Federal Reserve hike
Hong Kong recovery expected to slow – IMF
Fund warns of risks including exposures to Chinese real estate and further supply disruption
BIS and HKMA conclude green DLT project
HKMA says it is considering pilot issuance of tokenised green government bonds
HKMA says firms must report on national security law suspects
Financial regulators say firms must report on those arrested under anti-dissident law
Agustín Carstens on BIS strategic priorities, innovation and central bank policy
BIS chief speaks about policy trade-offs at a critical time, tech collaboration, tackling NBFIs and the dearth of ‘green’ assets
PBoC widens offshore bond trading for Chinese investors
Large banks will be able to deal in foreign bonds via Hong Kong under new scheme
PBoC opens up wealth management to Hong Kong and Macau
China looks to shore up Hong Kong’s status as a financial centre amid concerns over security crackdown
HKMA says employees must be vaccinated or take regular test
Hong Kong financial regulators will all impose same regime, government official says
Book notes: Fintech regulation in China, by Robin Hui Huang
Book includes meticulous exploration of detailed regulations across Chinese fintech sector, but risks missing bigger picture
Digital revolution: perks of a global Chinese CBDC
Chinese central bank digital currency has the potential to boost the renminbi’s internationalisation further, but only if international investors have access.
HKMA to hold AML/CFT ‘lab sessions’ for firms
Hong Kong’s central bank wants firms to upgrade AML/CFT technology
The renminbi in focus: reserve managers see promise
Reserve managers see potential in the renminbi and expect the International Monetary Fund to increase its weighting at the next special drawing rights reassessment
The renminbi’s inclusion in the SDR adds impetus to its internationalisation
Bank of China (Hong Kong) highlights the importance of opening up the onshore renminbi (RMB) foreign exchange market and improving the development of offshore RMB FX markets
Five years of the renminbi in SDR and its adoption in central bank portfolios
Policy-makers discuss what has impacted the renminbi’s adoption as a global reserve asset over the past five years.
Hong Kong to study ‘e-HKD’ at retail level
Hong Kong will begin study on retail CBDCs and work with PBoC on e-CNY in the next year
Charles Goodhart on inflation targets, financial stability and the role of money
LSE professor says AIT a mistake, independence under threat amid inflation surge and climate stress tests unconvincing
The Belt and Road Initiative 2021 Survey – The impact of Covid‑19 on the BRI
The fourth annual Belt and Road Initiative survey reveals that the Covid‑19 pandemic has disrupted many projects despite China remaining committed to financing the initiative, which is expected to support future economic growth and environmental…
Benoît Cœuré on CBDCs, stablecoins and central bank fintech co-operation
BIS Innovation Hub chief speaks about fintech risks for supervisors and monetary policy-makers, and hub development plans
HKMA and BoJ launch new securities settlement framework
New “delivery versus payment link” aims to reduce settlement risk
Lifetime achievement: Charles Goodhart
LSE and BoE veteran has influenced central banking policy practices and frameworks all around the world
HKMA chief plays down threat to currency peg
Eddie Yue tells journalists forthcoming IPOs should alleviate pressure