Currency

Regulators tighten control on China’s US$30 trillion currency market

Banks and traders are feeling the pinch as Beijing attempts to curb financial risks it sees as potential threats to the economy.

29 Sep 2021 - 4:24PM
Digital currencies can make cross border payments ‘faster and cheaper’

The Bank of International Settlements (BIS)-backed pilot scheme involves the central banks of China, the United Arab Emirates, Hong Kong and Thailand.

28 Sep 2021 - 3:52PM
China’s home-grown cross-border yuan payments system to expand reach

China’s Cross-Border Interbank Payment System will increase the number of direct taking part banks using the system to nearly 80 by the end of this year, according to chief executive officer Xu Zaiyue.

23 Sep 2021 - 10:03AM
US money printing to fund deficit a major risk for 2021: top China economist

Global inflation, asset bubbles and other consequences of modern monetary theory will be major issues for next year, says Zhou Xiaochuan, an ex-governor of China’s central bank.

17 Sep 2021 - 9:48PM
Allowing Chinese to invest more abroad seen as way to ease economic slowdown

Liberalising China’s markets could help generate greater returns for citizens via overseas investments, according to a former official in charge of international payments.

19 Aug 2021 - 12:30AM
Asian currencies face headwinds as China’s economy slows

China is a net importer of goods from many Southeast Asian nations and a slowdown in demand would have knock-on effects for their currencies, analysts say.

9 Aug 2021 - 6:43PM
China urged to use ‘foreign capital to our advantage’ after opening up pledge

China’s State Council on Wednesday reaffirmed its commitment to open up to foreign investments amid concerns the economy will slow in the second half of the year.

2 Aug 2021 - 12:03PM
China’s e-yuan like ‘double-edged sword’, and mishandling carries big risks

Analysts caution that widespread adoption of China’s digital currency must be gradual, as embracing the e-yuan will be ‘an educational process and a cultural shift’.

19 Jul 2021 - 10:27AM
China ‘putting own needs first’ in macroeconomic policy, with an eye on US

With China at a different stage in its economic recovery than the US, Beijing’s main focus is on maintaining stability in its own financial markets.

14 Jul 2021 - 1:18AM
China ‘recession’ risk sparks ‘unease’ in economic circles

Consumption outlook in the year’s second half ‘remains pessimistic’ for China, and capital outflow could have an impact on the yuan’s exchange rate.

12 Jul 2021 - 11:02PM
China digital currency’s launch would be ‘hard to ignore’

China has already distributed some 200 million yuan (US$31 million) in digital currency as part of pilot projects across the country having began exploring the concept in 2014.

29 Jun 2021 - 10:20AM
China’s e-yuan kick starts a rush to mint digital currencies in Asia

Now it’s clear that just as threads spun from the pupae of silkworms drove the growth of a global trade network, China’s digital yuan may weave an enduring international system of finance.

2 Jul 2021 - 10:23AM
Could China’s digital yuan replace smaller Asian currencies?

Financial authorities are weighing threats to monetary sovereignty as the race to launch a central bank digital currency (CBDC) heats up.

25 Jun 2021 - 8:00AM
Hong Kong e-dollar study in spotlight as currency peg stays strong

Hong Kong’s de facto central bank has set up a working group to study ‘legal and regulatory issues’ related to an e-Hong Kong dollar.

17 Jun 2021 - 11:19AM
US dollar war chests swell in Asia as central banks ‘learn from the past’

Holdings of foreign currencies in Asia’s fast-growing emerging economies hit US$5.82 trillion last month – the highest level in seven years.

16 Jun 2021 - 1:38PM
Long-term rise in China’s yuan could hurt economy: former top official

Guan Tao, a former senior official at the State Administration of Foreign Exchange, says long-term appreciation of the yuan could hurt job creation among small exporters, damaging efforts to boost domestic demand.

16 Jun 2021 - 12:57PM
Why China’s millennials are rolling the dice on cryptocurrencies

Speculation in bitcoin and other cryptocurrencies is increasingly popular among Chinese millennials and older members of Generation Z as way to get ahead, and maybe even pay for a flat.

11 Jun 2021 - 11:29AM
Can an underperforming Australian dollar help shift trade away from China?

Analysts are looking into whether the Australian dollar has started to weaken recently because of ongoing tensions with China.

10 Jun 2021 - 5:55AM