China currency | South China Morning Post
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China currency

Analysts say moving too fast on yuan convertibility will be risky

Analysts say moving too fast on yuan convertibility will be risky

Beijing is stepping up its efforts to make the yuan a convertible currency for use in international trade and investment, but analysts say the central bank should tread carefully given the challenges posed by rapid capital inflows and weak export demand.

Friday, 24 May, 2013, 5:28am

Yuan at fairer rate than 5 years ago, says Summers

The yuan has appreciated about 17 per cent since late 2007.

Lawrence Summers, the former top economic adviser to US President Barack Obama, has said that the yuan is not as undervalued as it was five years ago.

"The renminbi is not saliently, strikingly undervalued in the way it was five years ago," Summers said yesterday at the Asian Financial Forum in Hong Kong.

15 Jan 2013 - 5:26am

World must prepare to accept renminbi as a global currency

World must prepare to accept renminbi as a global currency

China has made extraordinary strides towards internationalising the renminbi, and it is now time the international community recognises that the global economic architecture needs to evolve to keep pace with the changes.

29 Oct 2012 - 1:17am 3 comments

'Yuan to remain strong' based on China recovery

China says it again: we are not a currency manipulator.

The yuan exchange rate is expected to remain strong in the coming quarters before a possible interest rate rise by the mainland in the second half of next year, according to investment bank Nomura.

18 Oct 2012 - 4:47am

China looms large in US presidential debates

A US Secret Service agent behind the stage as Republican presidential candidate Mitt Romney speaks at a victory rally in Ohio. Photo: AFP

US President Barack Obama is plotting to transform his pitch to voters for the next debate with Mitt Romney who has seized upon his administration delaying action on Chinese trade practices until after the election.

15 Oct 2012 - 5:05am

China central bank says currency near equilibrium

Zhou Xiaochuan, governor of the People’s Bank of China, stayed away from the IMF meetings, but one of his deputies delivered his remarks on Sunday. Photo: AP

China’s currency has reached its equilibrium rate and its value is mainly determined by the market, rather than intervention, Beijing’s central bank chief said on Sunday, signalling there is little likelihood of major movement in the yuan’s value in the near future.

29 Aug 2013 - 4:13am