On the morning of April 19,Golden Dragon Precise Copper Tube Group Inc.held a groundbreaking ceremony for its 80,000-ton precise copper tube project in the Wenzhou Economic and Technological Development Zone.It’s lea...On the morning of April 19,Golden Dragon Precise Copper Tube Group Inc.held a groundbreaking ceremony for its 80,000-ton precise copper tube project in the Wenzhou Economic and Technological Development Zone.It’s learned that Golden Dragon Group’s Wanzhou precision copper tube project展开更多
We explore how China's geographically targeted policies impact RMB overseas use individually or in combination.The policies include swap agreements,clearing banks,investment quotas,and direct trading between Chine...We explore how China's geographically targeted policies impact RMB overseas use individually or in combination.The policies include swap agreements,clearing banks,investment quotas,and direct trading between Chinese renminbi(RMB)and non-USD currencies.Adopting a fuzzy-set qualitative comparative analysis and using Bank of International Settlements cross-country data on foreign exchange markets,we find that institution building has lowered the barriers to international adoption of the RMB.Specifically,for countries economically close to China,high RMB trading is explained by either(i)having a clearing bank in the host market and direct quotations between the RMB and the local currency,or(ii)being a financial center and having access to the Chinese capital market.This combination of policies is explained by the creation of(i)"trading posts"that provide RMB liquidity abroad,and(ii)channels that allow actors to " recycle" offshore RMB funds.We triangulate our results with interviews conducted with senior People’s Bank of China officials.展开更多
This article recounts China’s renminbi(RMB)internationalisation experiences since the 2009 RMB cross-border trade settlement ini-tiative.In the first few years,the RMB made inroads into global financial markets and h...This article recounts China’s renminbi(RMB)internationalisation experiences since the 2009 RMB cross-border trade settlement ini-tiative.In the first few years,the RMB made inroads into global financial markets and had a few remarkable accomplishments,including the Special Drawing Right currency status.Since the 2015 market turmoil,RMB internationalisation has levelled off–possibly due to changes in both domestic and geopolitical condi-tions.The RMB is currently under-represented in the global mar-ket.China’s deliberate and schematic policies will elevate the RMB’s global stature in a gradual manner but there will not be a leapfrogging in the near term.展开更多
China’sforeign trade experienced threeconsecutive years of super-speed growth in 2002- 2004, even though the country was stricken by the SARS epidemic in 2003 and power shortages in 2004. What hasgone beyond expectat...China’sforeign trade experienced threeconsecutive years of super-speed growth in 2002- 2004, even though the country was stricken by the SARS epidemic in 2003 and power shortages in 2004. What hasgone beyond expectations is that the exports trade still grew with momentum after the central governmentlowered theexportrebate ratesbyan average of3 percentagepoints, starting from January2004. Such growth momentum isapparently associated with external demand and the performance ofthedomestic macroeconomy, and even more associated with a seriesof support policies. Thispaper tries to raise issuesissues associated with these policies on the basis of an analysis of foreign trade performance in 2002-2004, in order to enhance understanding of the advantages and disadvantages of these policies, and to recommend a new line ofthoughtfor improving policy arrangements for the growth of import and export trade and for the harmonious development of the macroeconomy.展开更多
文摘On the morning of April 19,Golden Dragon Precise Copper Tube Group Inc.held a groundbreaking ceremony for its 80,000-ton precise copper tube project in the Wenzhou Economic and Technological Development Zone.It’s learned that Golden Dragon Group’s Wanzhou precision copper tube project
文摘We explore how China's geographically targeted policies impact RMB overseas use individually or in combination.The policies include swap agreements,clearing banks,investment quotas,and direct trading between Chinese renminbi(RMB)and non-USD currencies.Adopting a fuzzy-set qualitative comparative analysis and using Bank of International Settlements cross-country data on foreign exchange markets,we find that institution building has lowered the barriers to international adoption of the RMB.Specifically,for countries economically close to China,high RMB trading is explained by either(i)having a clearing bank in the host market and direct quotations between the RMB and the local currency,or(ii)being a financial center and having access to the Chinese capital market.This combination of policies is explained by the creation of(i)"trading posts"that provide RMB liquidity abroad,and(ii)channels that allow actors to " recycle" offshore RMB funds.We triangulate our results with interviews conducted with senior People’s Bank of China officials.
文摘This article recounts China’s renminbi(RMB)internationalisation experiences since the 2009 RMB cross-border trade settlement ini-tiative.In the first few years,the RMB made inroads into global financial markets and had a few remarkable accomplishments,including the Special Drawing Right currency status.Since the 2015 market turmoil,RMB internationalisation has levelled off–possibly due to changes in both domestic and geopolitical condi-tions.The RMB is currently under-represented in the global mar-ket.China’s deliberate and schematic policies will elevate the RMB’s global stature in a gradual manner but there will not be a leapfrogging in the near term.
文摘China’sforeign trade experienced threeconsecutive years of super-speed growth in 2002- 2004, even though the country was stricken by the SARS epidemic in 2003 and power shortages in 2004. What hasgone beyond expectations is that the exports trade still grew with momentum after the central governmentlowered theexportrebate ratesbyan average of3 percentagepoints, starting from January2004. Such growth momentum isapparently associated with external demand and the performance ofthedomestic macroeconomy, and even more associated with a seriesof support policies. Thispaper tries to raise issuesissues associated with these policies on the basis of an analysis of foreign trade performance in 2002-2004, in order to enhance understanding of the advantages and disadvantages of these policies, and to recommend a new line ofthoughtfor improving policy arrangements for the growth of import and export trade and for the harmonious development of the macroeconomy.
