As Chinese citizens stayed home over this Lunar New Year holiday amid concerns about the coronavirus, several major cities were busy doling out fresh handouts of China’s rapidly developing central bank digital currency. At...
by John Chan | Oct 16, 2020
This week, Shenzhen’s government announced the rollout of one of the largest real-world trials of China’s fledgling new digital currency. The announcement came at the same time that Xi Jinping visited Shenzhen, where he laid out...
by 不忘初心 | Jun 11, 2012
Tension between China and Japan over the East China Sea has not stopped them from developing trade between the two countries. The Asia-Pacific Journal reports that Japan and China started direct trading of their currencies on...
by zhou shuren | Oct 20, 2011
An Op-Ed from Bloomberg News aggregates some of China’s Netizens’ reaction to the U.S. Currency Exchange Rate Oversight Reform Act. The commentary ranges from uncertainty to warnings of the macroeconomic implications...
by Paulina Hartono | Oct 16, 2010
The U.S. Treasury Department has postponed its announcement on whether China is a currency manipulator. From Reuters: The Obama administration backed away on Friday from a showdown with Beijing over the value of China’s...
by dwang | May 30, 2009
U.S. Treasury Secretary Timothy Geithner arrived in China this weekend, where he will meet Monday and Tuesday with some of China’s highest officials, including President Hu Jintao and Premier Wen Jiabao. These are...
by Xiao Qiang | Apr 6, 2009
From the Council on Foreign Relations blog: At key points then, China shied away from the decisions that would have allowed it to avoid accumulating so many reserves. China’s leaders probably didn’t intend to accumulate $2...
by Xiao Qiang | May 25, 2007
From The Economist: China’s investment in Blackstone shows how government investors are flourishing at the heart of the financial system With $1.2 trillion in foreign-exchange reserves and the pool growing by more than $1 billion every day, China casts a giant’s shadow over the global financial markets, even if it has mostly used the money […]
by Xiao Qiang | Feb 3, 2007
From Asia Times: The Chinese government is taking action to implement a new policy of diversifying the disposal of the country’s over US$1 trillion foreign exchange reserves which was initiated by the Central Conference on Financial Affairs three weeks ago. The Ministry of Finance (MOF) is planning to issue yuan-denominated bonds to raise funds that […]
by Xiao Qiang | Aug 29, 2006
From The Sydney Morning Herald: The newest member of the Chinese monetary policy committee will today launch a stinging attack on those calling for a major revaluation of the yuan. Fan Gang, a Harvard-educated economist who this month joined the People’s Bank of China committee responsible for advising on interest rates and exchange rate settings, […]
by Xiao Qiang | Jul 4, 2006
From The People’s Daily: It is an indisputable fact that China has become the world’s major economic power. Based on market exchange rates, the size of China’s overall economy is already the world’s fourth largest, accounting for one sixth of the US economy and one second to two third of Japan’s economy. If calculated in […]
by Sophie Beach | Apr 29, 2005
From the Financial Times: China’s currency traded briefly outside its tightly controlled band on Friday, triggering a renewed wave of speculation that the government was preparing to allow a long-expected revaluation. The unexpected price move followed weeks of international pressure on China to allow the renminbi to appreciate. But the People’s Bank of China, the […]
CDT in the News
- SCMP – Foreign journalists in China report state backing for rising intimidation during Henan floods
- Forum2000 – Data colonialism: Where China and the West diverge
- FT – China flood response reveals Beijing’s need to prepare for extreme weather
- LA Times – Amid crushing floods in China, officials focus not on climate change, but on control
- RFA – “Drowning” has become a sensitive word during Henan floods