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China cuts reserve requirements ratio to boost growth
... percent in the third and fourth quarters, the experts said. The People's Bank of China , the nation's central bank, announced on September 15 that it would reduce the foreign exchange reserve requirement ratio for banks from 8 percent to 6 percent. The renminbi's exchange rates against the dollar increased after the announcement. The exchange rate hit a two-year low of 6.94 against the dollar on Monday after the monetary tightening in the United States strengthened the dollar. They said that the move ...
Updated: 09/06/2022
China cuts forex reserve requirements ratio by 2 percentage points
... aims to improve the capacity of financial institutions to use forex funds. According to Wen Bin , chief economist at China Minsheng Bank , the cut will help increase the liquidity of the US dollar in the market and contribute to the stability of the renminbi exchange rate. The US tightened its monetary policy due to the accelerated tightening of its monetary policy. The Federal Reserve , the US dollar index, broke the 110 mark once, which caused the passive depreciation of the renminbi against the ...
Updated: 09/05/2022
Hong Kong stock market to attract more foreign IPOs
... of traded stocks and open up the mainland's financial markets in a high-quality manner. The CSRC plans to introduce yuan-dominated stock trading counters through the SAR-mainland investment channel. The plan would increase the liquidity of offshore renminbi and provide an additional option for mainland investors to use the Chinese currency to make deals in the same stock listed in Hong Kong. A Hong Kong working group set up earlier this year is geared to handling technical difficulties in implementing ...
Updated: 09/05/2022
China central bank says it will not be too slow to adopt stimulators
... the market's liquidity, Ruan said. Data from the PBOC showed that M 2, or the broad money supply, increased 12 percent year-on-year in July. In July, the annual growth rate for aggregate financing to the real economy was 10.7 percent and that for the renminbi loan balance reached 11 percent. The average interest rate for corporate loans was 4.29 percent in the first seven months of the year, down 0.34 percentage points compared to the same period in 2021. In mid-April, the PBOC reduced the reserve ...
Updated: 09/03/2022
RMB can be stabilised on China's trade surplus
Experts said that the Chinese currency can be stabilized based on China's trade surplus and a stimulative economic policy. Experts said that the Chinese currency can be stabilized based on China's trade surplus and a stimulative economic policy. The renminbi's exchange rate continued to go south despite fears of further interest rate hikes by the Federal Reserve, but the Chinese currency can be stabilised leveraging China's significant trade surplus and stimulative economic policies, experts said....
Updated: 08/31/2022
Pimco is turning negative on Chinese assets
... elevated when measured in broader trade-weighted terms despite the yuan s decline against the dollar this year. There is scope for the RMB to catch up to some weakness, especially as the yen and euro depreciated a lot, Chang said, referring to the renminbi, which is another name for the yuan. There are the elements of interest-rate differential and export performance. Exports have continued to stay strong but are about to turn due to the prospects of a global recession, he said. The offshore yuan ...
Updated: 08/25/2022
Rising US dollar may be milder than expected
Trade surplus, opening-up, fiscal and monetary measures seen as support are seen as a positive thing. Trade surplus, opening-up, fiscal and monetary measures seen as supports are seen as a positive thing. The renminbi exchange rate against the US dollar was near a 23 month low on Monday, but it is unlikely that the Chinese currency will depreciate significantly in the rest of the year, thanks to the country's economic resilience, said experts. Spot USD CNY ...
Updated: 08/24/2022
Hong Kong sees lowest increase in expatriate pay packages
... position in the rankings remaining unchanged. ALSO READ: Survey: HK remains the most expensive place for expats to visit. He said that the mainland continued to impose zero-COVID policy throughout the year, and may be partly due to the strength of the renminbi, but it may also be explained by companies needing higher salaries to attract and retain expatriate staff. The cost of employing an expatriate in Singapore went up by about 10 percent to just under US $250,000 a year, with cash salaries seeing ...
Updated: 08/03/2022
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