GC Asia
Latest RMB FX news
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In calling China a 'currency manipulator,' the US plays its Trump card
The US finally labelled China a currency manipulator this week, a day after the renminbi weakened to below the psychological level of seven against the dollar. With China clearly indicating its willingness to open a new front in the trade war, the stage is set for an increase in rhetoric between the two countries.
07 Aug 2019 -
The week in renminbi: Allianz gets green light for Wfoe, foreign bond investors receive more tax exemptions, PBoC Shanghai supports private enterprises
Welcome back to our Monday newsletter. In this round-up, Allianz gets approval for first wholly foreign-owned enterprise (Wfoe) in the insurance sector, foreign bond investors will receive tax exemptions, and PBoC Shanghai branch is lifting lending quotas to help small and private enterprises.
26 Nov 2018 -
China market round-up: foreign reserves drop, October exports climb, Singapore Exchange plans to help Chinese enterprises
In this round-up, China’s foreign reserves in October decrease $34bn due to the stronger dollar, monthly exports climbed more than expected, Singapore Exchange signed cooperation agreements to develop more opportunities for Chinese enterprises in Singapore.
09 Nov 2018 -
Trade war diaries: China not an FX manipulator, but renminbi on the brink
The US Treasury declined to name China a currency manipulator in its latest report this week, contrary to expectations. But the last minute save did not prevent the renminbi from moving closer to the line in the sand with an exchange rate of seven per dollar.
19 Oct 2018 -
The week in renminbi: PBoC props up RMB with old rule, regulator greenlights new CGB futures, FSDC sets the tone before leadership summer meeting
China’s central bank brings back reserve requirement for FX forwards to support the RMB, the securities watchdog welcomes the launch of two year government bond futures, and a top financial regulatory body says it wants more support for the real economy before China’s leaders meet in Beidaihe.
06 Aug 2018 -
There can be only one: Index inclusion and the future of CNH
The upcoming inclusion of onshore assets in global indices will drive massive inflows to the onshore capital markets, but will also have the side effect of downsizing the role of the offshore RMB (CNH) markets, according to Julien Martin, the head of FIC product development at the Hong Kong Exchanges and Clearing.
15 May 2018 -
One currency, two systems
Discussions around the co-existence of two renminbi markets, one onshore and one offshore, are once again picking up pace, market participants told GlobalRMB. It will be up to China’s central bank to clean up the mess once and for all.
11 May 2018 -
Inside China’s FX broker clampdown
Chinese regulators are cracking down on foreign currency trading, going after brokers who have flouted restrictions by operating in a legal grey area. GlobalRMB investigates.
23 Mar 2018 -
China FX market gets an upgrade
China Foreign Exchange Trade System (CFETS) has added the central limit order book and executable streaming price features to the onshore interbank FX market — a move which helps close the gap in FX trading technology between China and the international markets.
07 Mar 2018 -
The week in renminbi: CFETS kicks off Thai baht trading, top Chinese official assures Hong Kong of its RMBi role, CCB opens New Zealand branch
China launches onshore trading for Thai baht, NPC chairman says Hong Kong remains important to China’s effort to promote the renminbi, and China Construction Bank opens a new branch in Auckland.
05 Feb 2018
