China takes firm steps to prevent exchange rate overshooting: central bank governor
6 months ago

China takes firm steps to prevent exchange rate overshooting: central bank governor

China Daily  

Xinhua| Updated :2024-06-20 SHANGHAI -- China has taken firm steps to prevent the risks of exchange rate overshooting, said Pan Gongsheng, governor of the People's Bank of China, on Wednesday. The RMB exchange rate has remained basically stable in complicated circumstances, Pan said at the 15th Lujiazui Forum held in Shanghai. Letting the market play a decisive role in the formation of exchange rates, China's central bank has maintained the flexibility of the exchange rate, while strengthening guidance of expectations and taking firm steps to prevent the risks of exchange rate overshooting, Pan said. These factors combined will help keep the RMB exchange rate basically stable and balance cross-border capital flows, thereby gaining more space for China's monetary policy maneuvers, Pan said.

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History of this topic

It's time to guard against excessive RMB exchange rate adjustments
1 week, 2 days ago

It's time to guard against excessive RMB exchange rate adjustments

China Daily  

CAI MENG/CHINA DAILY With the final chapter of the US presidential election now written and President-elect Donald Trump's strong return to politics, market concerns are rising that the United States might again implement policies that could weaken the Chinese yuan, or the renminbi. Influence channels These measures would influence the yuan exchange rate via China's balance of payments and supply-demand …

Renminbi on track for stability against USD
2 months, 2 weeks ago

Renminbi on track for stability against USD

China Daily  

The renminbi is still on track for overall stability with two-way fluctuations against the US dollar in the months ahead, and with limited risks of one-sided and substantial appreciation, said a leading currency expert. "Meanwhile, the People's Bank of China, the central bank, seems always ready to prevent the renminbi exchange rate from overshooting, either excessive appreciation or depreciation. Pan …

US interest rate concerns drive renminbi's ascendancy
3 months, 3 weeks ago

US interest rate concerns drive renminbi's ascendancy

China Daily  

Over recent months, a seemingly surprising trend has emerged on the global financial landscape — foreign investors are flocking to Chinese renminbi bonds, even as US bonds boast higher yields. These factors, they said, will continue to help the renminbi's ascent as an international currency, strengthening its reserve, payment, financing and pricing functions, and offering a win-win for the global …

US interest rate concerns drive renminbi's ascendancy
3 months, 3 weeks ago

US interest rate concerns drive renminbi's ascendancy

China Daily  

Over recent months, a seemingly surprising trend has emerged on the global financial landscape — foreign investors are flocking to Chinese renminbi bonds, even as US bonds boast higher yields. These factors, they said, will continue to help the renminbi's ascent as an international currency, strengthening its reserve, payment, financing and pricing functions, and offering a win-win for the global …

US interest rate concerns drive renminbi's ascendancy
3 months, 3 weeks ago

US interest rate concerns drive renminbi's ascendancy

China Daily  

By Zhou Lanxu and Liu Zizheng | China Daily | Updated: 2024-08-29 07:01 Over recent months, a seemingly surprising trend has emerged on the global financial landscape — foreign investors are flocking to Chinese renminbi bonds, even as US bonds boast higher yields. The allure of renminbi-denominated assets has been underpinned by a global shift away from over-reliance on the …

RMB rebound trend to continue
4 months, 2 weeks ago

RMB rebound trend to continue

China Daily  

The renminbi has rebounded moderately since late July, thanks to a slight improvement in the external environment and rising market confidence boosted by a number of economic stimulus measures, and this trend is likely to extend into the following months, experts said. Data from market tracker Wind Info showed that the onshore USD/CNY pair has risen 0.84 percent from July …

China takes firm steps to prevent exchange rate overshooting: central bank governor
6 months ago

China takes firm steps to prevent exchange rate overshooting: central bank governor

China Daily  

Pan Gongsheng, governor of the People's Bank of China, during the 15th Lujiazui Forum in Shanghai, June 19, 2024. SHANGHAI -- China has taken firm steps to prevent the risks of exchange rate overshooting, said Pan Gongsheng, governor of the People's Bank of China, on Wednesday. The RMB exchange rate has remained basically stable in complicated circumstances, Pan said at …

China can offset effects of Fed's rate hikes
2 years, 7 months ago

China can offset effects of Fed's rate hikes

China Daily  

MA XUEJING/CHINA DAILY Since the international monetary system is dominated by the dollar, the US Federal Reserve's rate hike is bound to have a spillover effect on other economies and constrain the maneuvering space for their monetary policy to varying degrees. On May 12, for example, the yield on China's 10-year treasury bond was 2.81 percent, meaning the interest rate …

China can offset effects of Fed's rate hikes
2 years, 7 months ago

China can offset effects of Fed's rate hikes

China Daily  

MA XUEJING/CHINA DAILY Since the international monetary system is dominated by the dollar, the US Federal Reserve's rate hike is bound to have a spillover effect on other economies and constrain the maneuvering space for their monetary policy to varying degrees. On May 12, for example, the yield on China's 10-year treasury bond was 2.81 percent, meaning the interest rate …

Central bank targets exchange rate stability
3 years, 6 months ago

Central bank targets exchange rate stability

China Daily  

The People's Bank of China aims to keep the RMB exchange rate stable against major currencies amid China's post-pandemic recovery. ZHANG XINGLONG/CHINA NEWS SERVICE Wide range of options open to the PBOC, market players say The central bank is determined to keep the RMB exchange rate stable against a basket of major currencies amid China's post-pandemic recovery, according to economists. …

Central bank targets exchange rate stability
3 years, 6 months ago

Central bank targets exchange rate stability

China Daily  

The People's Bank of China aims to keep the RMB exchange rate stable against major currencies amid China's post-pandemic recovery. ZHANG XINGLONG/CHINA NEWS SERVICE Wide range of options open to the PBOC, market players say The central bank is determined to keep the RMB exchange rate stable against a basket of major currencies amid China's post-pandemic recovery, according to economists. …

Central bank targets exchange rate stability
3 years, 6 months ago

Central bank targets exchange rate stability

China Daily  

A bank clerk checks currency in Hai'an, Jiangsu province. XU JINGBAI/FOR CHINA DAILY Closer watch Research from Deutsche Bank predicts that from this year to 2025, about $590 billion in foreign capital may be injected into China's bond market, and that by 2025, RMB-denominated assets could comprise some 5 percent of global reserves. The German investment bank said that as …

Central bank targets exchange rate stability
3 years, 6 months ago

Central bank targets exchange rate stability

China Daily  

The People's Bank of China aims to keep the RMB exchange rate stable against major currencies amid China's post-pandemic recovery. ZHANG XINGLONG/CHINA NEWS SERVICE Wide range of options open to the PBOC, market players say The central bank is determined to keep the RMB exchange rate stable against a basket of major currencies amid China's post-pandemic recovery, according to economists. …

Central bank targets exchange rate stability
3 years, 6 months ago

Central bank targets exchange rate stability

China Daily  

The People's Bank of China aims to keep the RMB exchange rate stable against major currencies amid China's post-pandemic recovery. ZHANG XINGLONG/CHINA NEWS SERVICE Wide range of options open to the PBOC, market players say The central bank is determined to keep the RMB exchange rate stable against a basket of major currencies amid China's post-pandemic recovery, according to economists. …

Central bank targets exchange rate stability
3 years, 6 months ago

Central bank targets exchange rate stability

China Daily  

The People's Bank of China aims to keep the RMB exchange rate stable against major currencies amid China's post-pandemic recovery. ZHANG XINGLONG/CHINA NEWS SERVICE Wide range of options open to the PBOC, market players say The central bank is determined to keep the RMB exchange rate stable against a basket of major currencies amid China's post-pandemic recovery, according to economists. …

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