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News on the RMB, the Chinese Currency

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Chinese yuan gets elite status from IMF
Dec 4, 2015 (WiC 306)

This week shareholders at the International Monetary Fund voted to include the yuan, also known as the renminbi, as the fifth currency in the IMF’s special drawing rights (SDR) currency basket alongside the US dollar, the Japanese yen, sterling ...

Does devaluation signal currency war or further renminbi reforms?
Aug 21, 2015 (WiC 292)

While not a scientific principle, Sod’s Law is a phenomenon most people can attest to. WiC got a taste of it this month. Just a few days after we’d published our seemingly comprehensive 48-page special edition on the Chinese currency – ...

Coming to the Americas

Is usage of the RMB rising in the US, Canada and Latin America?
Jul 24, 2015 (WiC 291)

The latest data from SWIFT, the financial messaging network, shows that more than a thousand banks worldwide use the yuan for payments with China and Hong Kong. The figures (from May) say something more about the global reach of China’s ...

On the right track?

What greater weightings for China in world indices mean for its currency
Jun 5, 2015 (WiC 284)

While undervaluation of the renminbi was a major factor causing the large imbalances in the past, our assessment now is that the substantial real effective appreciation over the past year has brought the exchange rate to a level that is no longer ...

Survey shows 22% of firms are paying in yuan
Jul 18, 2014 (WiC 246)

It’s more than three years since former Chinese President Hu Jintao announced that an international currency system dominated by the US dollar is a “product of the past”. Earlier this month French Finance Minister Michael Sapin also ...

Latest HSBC survey hints at a lucrative benefit if exporters use renminbi
Jul 26, 2013 (WiC 203)

The renminbi was top of the agenda at HSBC’s fifth Global Connections event in Guangzhou at the end of June. The conference, attended by more than 70 of the bank’s corporate clients from around the world, brought together a selection of ...

Taking it personal

Yiwu pilots yuan scheme for small businesses
Jun 14, 2013 (WiC 197)

A trip to Yiwu can be a bewildering affair. When a British newspaper visited the world’s largest wholesale market a few months ago, it met a British businessman who complained it was too hard to find the right product. “It is like finding ...

Betting on Qianhai

Outlook for new zone prompts property punts
Feb 1, 2013 (WiC 180)

In November 1986, Shenzhen hosted China’s first female bodybuilding contest – a radical undertaking when you consider that no one had donned a bikini in public since before Mao came to power in 1949. Shenzhen went on to pioneer much more ...

Be quiet and eat your carrots

Why Hong Kong banks are excited about new Qianhai Bay scheme
Jul 6, 2012 (WiC 157)

Most politicians hope for a honeymoon period of at least a few months when they first take office. So it will have been a disappointment for Hong Kong’s new chief executive, Leung Chun-ying, that he managed only a few minutes before the ...

Prasad on Mitt’s “tough” talk

If elected would Romney label China a currency manipulator?
Jun 8, 2012 (WiC 153)

Mitt Romney likes to stir up the crowds with his aggressive views on the Chinese currency. On day one of his presidency he vows he’ll label China a currency manipulator. If Romney makes it to the Oval Office will he go through with this threat ...

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