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Enter the Petro-Yuan?

October 18, 2018 By Bennett Voyles

For nearly 50 years, most of the world’s oil has been bought and sold with US dollars. But that may be changing, as the energy exchange center in Shanghai has begun trading a yuan-denominated oil futures contract. Six months after the contract, more 10% of the world’s oil is now traded in yuan. Why are the Shanghai contracts so popular? Will the world enter a petrol-yuan era from petrol-dollar era? How will the situation evolve against the background of trade war between the two largest economies?

Filed Under: All Articles, Finance, Globalization Tagged With: Commodity, Currency, Energy, petrodollar, petrol

Currency Reform: Float of the RMB

August 9, 2017 By Tom Nunlist

After meeting with Chinese President Xi Jinping this year, Donald Trump backtracked and dropped his accusation of China being a currency manipulator. But the issue of currency manipulation is still debatable. The RMB is certainly not a free-floating currency and the controls are complex. China’s central bank sets the daily rate with movements only allowed in a narrow 2% band. This did not change for years, until August 2015 when the central bank reformed a bit by beginning to set the daily RMB rates based on the closing value of the previous day’s interbank forex market. But it’s not considered a major change and the way to achieve a more open currency remains difficult.

Filed Under: All Articles, China, Economy, Finance, Know China Tagged With: Chinese Economy, Currency, finance, RMB, RMB policy

Yuan Devaluation is More Likely a Sign of Market Reforms

August 17, 2015 By Li Haitao

PBOC’s move to devaluing the RMB didn’t just follow weak exports data, but also IMF requirements for more market-driven exchange rates.

Filed Under: All Articles, Chinese Economy, Economics, ExpertSpeak, Finance, International Trade, Know China, Opinion Tagged With: Currency, Foreign Exchange, Li Haitao, PBOC, Slider, Valuation of RMB

Making Sense of the Yuan Devaluation

August 14, 2015 By Major Tian

Is the yuan devaluation the start of a currency war, or a reflection of Beijing’s plan to give the market more power?

Filed Under: All Articles, Chinese Economy, Finance, International Trade, Know China Tagged With: Currency, Export, Foreign Exchange, PBOC, Slider, Valuation of RMB

The Redback Rodeo: The RMB Exchange Rate

June 2, 2015 By Douglas Bulloch

The RMB exchange rate is caught between two powerful forces: the surging Dollar and China’s rising power.

Filed Under: All Articles, Economics, Know China, Policy and Law Tagged With: Currency, Dollar, Foreign Exchange, Monetary Policy, RMB, Slider, Valuation of RMB

China Roundup: What’s Behind China’s Required Reserve Ratio Cut?

February 5, 2015 By Major Tian

This week, China’s central bank finally bit the bullet and cut the required reserve ratio by 50 basis points; and the manufacturing purchasing managers’ index hit a new low

Filed Under: All Articles, Banking, China Round-up, Chinese Economy, Economics, Finance, Know China, Policy and Law Tagged With: Currency, Investment, Monetary Policy, PBOC, PMI, Slider, Valuation of RMB

The Lure—and Risks—of Emerging Market Bonds

November 12, 2014 By Major Tian

As the global economy looks to emerging markets for growth, investors rush in for the high yields of emerging market bonds. But what about the risks?

Filed Under: All Articles, Connections, Emerging Economies, Finance, Videos Tagged With: Bonds, Currency, Debt, Dollar, Economy, Emerging Markets, Foreign Exchange, Investment, Slider

China Roundup: China’s Manufacturing Activity Gathers Steam and the Alibaba Results

November 7, 2014 By Major Tian

This week, the HSBC PMI showed an uptick in China’s manufacturing activity; news of the possibility of an RMB clearing house in Toronto made waves; and Alibaba posted strong second quarter results.

Filed Under: All Articles, China Round-up, Chinese Economy, Digital Economy, Finance, Know China, Stock Exchange, Technology Tagged With: Alibaba, Currency, Employment, Hong Kong, PMI, RMB, Sina Weibo, Slider, Stockmarket, Valuation of RMB, Xiaomi

The Variable Interest Entity seems like a “Deliberate Nod and Wink”

October 29, 2014 By Mark Dreyer

Michael Brennan, a renowned academic in finance, on the variable interest entity structure, China’s capital markets and the internationalization of the renminbi.

Filed Under: All Articles, Chinese Economy, Connections, Economy, Finance Tagged With: Banking System, Currency, Government Regulation, Inflation, Investment, IPO, Slider, Variable Interest Entities, VIEs

China Roundup: The race to become the largest economy in the world and the UK Treasury’s RMB Bonds

October 10, 2014 By Major Tian

This week, there was fresh debate over whether China will overtake the US to become the largest economy in the world this year, the RMB inched one step closer to true internationalization, and all eyes were on Hong Kong to gauge the impact of the Occupy Central protests on the economy.

Filed Under: All Articles, Banking, China Round-up, Chinese Economy, Connections, Economy, Finance, Know China, Tourism Tagged With: Agricultural Bank of China, China Construction Bank, Chinese Economy, Currency, GDP, Hong Kong, IMF, PBOC, Politics, Slider, UK-China

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Information, analysis, and interviews about the Chinese economy and doing business in China, from the people who know it best. Presented by the Cheung Kong Graduate School of Business, China's leading business school.


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