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Results 1 - 10 of 14 for currency

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  1. Yuan's depreciation talk receding

    Posted Jun 26th 2009, 12:00am by Martin Zhou

    ... money from China as they did during the peak of the crisis. 'In addition, the apparent growth in the net buying of foreign currencies by Chinese banks simply reflected that the market expectation for yuan depreciation has weakened significantly.' The People's Bank of China recorded a net purchase of US$35.5 billion worth of foreign currencies last month, up from US$22.5 ...

  2. Firm dollar weighing heavily on yuan, says statistics executive

    Posted Dec 27th 2008, 12:00am by Martin Zhou

    ... per cent since Beijing introduced a controlled appreciation of the currency in 2005, but it has been almost unchanged in the past two months. Sentiment first turned last month as Zhou Xiaochuan, the governor of the People's Bank of China, said Beijing might allow a depreciation of its currency to boost sharply declining exports amid a global slowdown. The yuan fell for four ...

  3. Currency-swap deal in the offing

    Posted Mar 07th 2009, 12:00am by Martin Zhou

    ... People's Congress yesterday. Zhou Xiaochuan, governor of the People's Bank of China, also said the 200 billion yuan (HK$227 billion) currency-swap agreement reached last month was ready. ... clients. That is where the currency-swap scheme, designated to run for three years, comes in. 'The currency-swap has boosted confidence in these adverse macroeconomic circumstances and we can ...

  4. Beijing spells out desire for a bigger say

    Posted Mar 28th 2009, 12:00am by Martin Zhou

    ... to get in return for higher contributions to the fund. On Monday, central bank governor Zhou Xiaochuan proposed using the IMF's Special Drawing Rights (SDRs), a super-sovereign currency unit, in place of the US dollar as the world's reserve currency. Analysts agreed the proposal was designed to put pressure on Washington to adopt cautious monetary policies in order ...

  5. PBOC calls for global financial co-operation

    Posted Mar 27th 2009, 12:00am by Martin Zhou

    ... at the Group of 20 summit next Thursday. Central bank governor Zhou Xiaochuan raised some eyebrows on Tuesday by proposing a single global reserve currency to displace the US dollar, followed ... multipliers.' It also fired back at criticism that China had manipulated its currency. 'International organisations always focus on the macroeconomic monitoring of emerging economies, especially ...

  6. Safety-first policy in bid to spread reserves

    Posted Apr 25th 2009, 12:00am by Martin Zhou

    ... Martin Zhou in Shanghai China will stick to major currencies and high-quality assets in its drive to diversify its enormous foreign-currency reserves, which saw a dramatic slow-down ... accumulation of foreign currencies. More conspicuous to observers is how quickly the number has tumbled further in the first three months of this year. According to SAFE statistics, Beijing's ...

  7. Citic Pacific asks CIC to take 50pc stake in unit

    Posted Feb 05th 2009, 12:00am by Martin Zhou

    ... Capital Holdings to help bail it out after racking up massive losses in foreign-currency bets last year. The property-to-steel conglomerate, a unit of investment powerhouse Citic Group, was still ... for comment. A source said Citic Pacific and its parent have been seeking to sell assets to shore up finances after the company lost more than HK$18 billion on unauthorised currency bets ...

  8. Beijing backs Shanghai goal as finance hub

    Posted Mar 26th 2009, 12:00am by Martin Zhou, Peter So

    ... That could help China overcome the financial crisis, Xinhua reported. Explicit in the State Council's endorsement is that Beijing will make its currency, the yuan, fully convertible by 2020, ... to Shanghai,' said Stephen Green, Standard Chartered Bank's chief China economist. 'Beijing does want to encourage companies to use yuan as an invoicing currency in international trade.' ...

  9. CDB sets up 35b yuan private equity vehicle

    Posted Sep 02nd 2009, 12:00am by Martin Zhou

    ... management firms setting up yuan-denominated funds on the mainland. Blackstone Group announced last month a plan to raise five billion yuan in a local currency fund. Chinese banks have engaged ...

  10. China sees fortunes tied to US economy

    Posted Jun 04th 2009, 12:00am by Cary Huang, Martin Zhou

    ... Xiaochuan proposed a new global currency to reduce reliance on the dollar. Mr Geithner told the Chinese leaders that Mr Obama was committed to tackling the soaring budget deficit. Ms Zuo said ... as one of the reserve currencies. Tao Dong, the chief China economist at Credit Suisse, said Mr Geithner's trip was meant to build personal relationships with Chinese leaders rather than ...




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