Tags » RMB

The IMF’s Special Drawing Rights, the RMB and gold

Source: Gold Money, by Stefan Wieler

Introduction

At the latest G20 meeting, China’s central bank vowed to promote the use of SDRs in the Chinese economy, just four months after the IMF decided to include the RMB as part of the currency basket underlying SDRs. 669 more words

Financial/Societal Collapse And Dependence

SAFE Press Conference with Domestic Media (Exclusive Translated Version)

An another important press conference by SAFE on cross-border flows to share with our foreign readers.

(Source: http://www.safe.gov.cn/resources/wcmpages//wps/wcm/connect/safe_web_store/safe_web/whxw/zcfgjd/node_news_zcfgjd_store/63ac6c804c1f920897a297c30181affd/)

The main officials attending this press conference from SAFE is Mr. 4,282 more words

Macro

China's latest move to prop up its currency will hurt Hong Kong's massive insurance industry

China has issued new restrictions on citizens buying insurance in Hong Kong, the latest move to stem capital outflow and keep the renminbi strong. Hong Kong insurers can no longer accept UnionPay, the massive Chinese state bank-card payment system that every Chinese credit or bank card runs on, insurers told Quartz… 536 more words

PBOC to allow a gradual weakening of RMB

It is becoming increasingly clear that a gradual weakening of the RMB is under way. Last August’s devaluation by the PBOC rattled the financial markets only to have the markets somewhat recover in the aftermath. 635 more words

Macro

#CNflow 2016.02.15-19

Published Monday 15th 2016, 13:30 HKT

Updated Thursday 18th, 15:00 HKT

As China comes back from a weeks Chinese New Year holiday, here’s some of the local headlines to kick off the Year of the Monkey, 猴年吉祥! 418 more words

China

China's coming crash could dwarf the great recession—says an investor who called 2008

China is heading for further financial chaos. In the near future the yuan could lose a third of its value against the dollar, the government would need to print more than $10 trillion to keep banks liquid, and financial institutions are set lose trillions of dollars in equity value. 388 more words