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GC Asia
Regulation & Policy - All Articles
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The week in renminbi: New barometers for bank liquidity, Li wants market-driven economy, offshore RMB financing costs on the rise
The banking and insurance watchdog sets new indicators to measure Chinese bank liquidity, premier Li Keqiang says markets must have a bigger role in allocating resources, and Bank of China’s data shows offshore renminbi bond yields rising above onshore counterparts.
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China policy round-up: PBoC vows clearer signals, CSRC puts green finance on agenda, FTZs get boost from central government
China’s central bank commits to better communications with market participants, the China Securities Regulatory Commission says it will do more to support green development in the capital markets, and the government announces upgrades for three free trade zones.
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The week in renminbi: PBoC beefs up CNH pool before index inclusion, LSE unveils London Stock Connect blueprint, trade war put on hold
The Chinese central bank ushers in measures to support offshore renminbi liquidity ahead of MSCI’s A-share inclusion, the London Stock Exchange (LSE) showcases a grand plan to link its stock market with Shanghai, and Beijing and Washington hold back on tariffs after Liu He’s visit to the US.
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China policy round-up: Liu in the US, risk prevention high on leaders’ agenda, Shanghai celebrates liberalisation efforts
The Chinese vice premier is in the United States for trade talks, policymakers highlight concerns about systemic financial risk, and officials in Shanghai say foreign financial institutions are setting up operations in the city after China announced measures to further open up the onshore market.
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China policy round-up: Japan gets RQFII quotas, Yi Gang bullish on opening up, PBoC sets RMBi goals
Japan receives a renminbi qualified foreign institutional investor (RQFII) investment quota, People’s Bank of China chief backs greater liberalisation of domestic financial sector and RMB exchange rate, and the central bank outlines key objectives for RMB internationalisation in 2018.
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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.
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BRI reflects China’s RMB conundrum: economist
The Belt and Road Initiative (BRI) may be highlighting the dollar’s dominance rather than the renminbi’s potential in the global economy. But Beijing has other aces up its sleeve, Paola Subacchi, an economist at Chatham House, said at the Asian Development Bank’s annual meeting.
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China policy round-up: RQDII is back, new swap lines, Safe plans further capital markets opening
The People’s Bank of China publishes new rules governing the RMB qualified domestic institutional investor scheme, China and Nigeria ink a swap line, and the State Administration of Foreign Exchange pledges further reforms.
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Bond Connect: Banks push for changes, DVP coming soon
China’s regulators are planning to push ahead with a long-awaited delivery versus payments upgrade for Bond Connect as early as next month, GlobalRMB understands. The move addresses one of the major headaches for foreign investors using the scheme to buy onshore renminbi bonds.
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Cips expands hours, but Swift sees more work to do
The China cross-border interbank payment system (Cips) started 24 hour operations on May 2, the central bank announced. But Swift thinks there is plenty of room to improve China's clearing and settlement infrastructure.
