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
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
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
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
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’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