日批在线视频_内射毛片内射国产夫妻_亚洲三级小视频_在线观看亚洲大片短视频_女性向h片资源在线观看_亚洲最大网

Make me your Homepage
left corner left corner
China Daily Website

China continues promoting RMB use globally in 2013

Updated: 2013-12-25 15:07
( Xinhua)

Reform measures

As Hong Kong, London, Singapore and Taiwan compete with each other for offshore RMB business, Chinese authorities have announced a slew of major financial reform measures since last month.

A reform blueprint, unveiled on Nov 15 after a key meeting of the Communist Party of China Central Committee, addressed all of the key financial reforms that the market has long been expecting, said Qu of HSBC in a research note.

Key reform measures include accelerating interest rate liberalization, reforming the RMB exchange rate regime, speeding up RMB capital account convertibility by promoting the two-way opening up of capital markets, and the easing of restrictions on cross-border capital and financial transactions.

As China has traditionally conducted major reforms on a trial basis in a designated place, the market has expected these financial reforms to be tested in the Shanghai Free Trade Zone (FTZ). On Dec 2, the PBOC unveiled a guideline containing 30 points on financial measures for the FTZ.

The bold move not only offered financial support for the FTZ in Shanghai, but also pushed forward liberalization in cross border investments and trade while deepening financial reforms, Qu said.

He said there were several upside surprises in the guideline, which suggest a marked acceleration in capital account liberalization, including allowing residents of the FTZ to set up free trade accounts denominated in both yuan and foreign currencies, allowing individuals working in the FTZ to invest overseas, and allowing financial institutions and corporations in the FTZ to carry out investments and trade in securities and futures exchanges in Shanghai.

The PBOC is also trying to promote RMB cross-border usage through current account transactions and direct investment in the FTZ in Shanghai.

"We believe that progress on the RMB capital account convertibility will be faster than many expect. The next step will be expanding portfolio flows," Qu said. "Get ready for a series of concrete actions to be carried out over the coming quarters."

David Cui, with Bank of America Merrill Lynch, said in his research note that the key surprise of the PBOC guideline is that cross-border capital flow via the FTZ may become much easier than expected, which suggests China's capital account could be opened faster than expected.

"The fact that there is no explicit quota limit on fund transfers is a major step, in our opinion. The PBOC will also allow full RMB convertibility within free trade accounts and free trade accounts for non-residents when ready," Cui said.

The report by the Hong Kong Legislative Council interprets the establishment of the Shanghai FTZ differently.

"The proposed financial liberalization measures have aroused concerns over the challenges posed by FTZ to Hong Kong as an offshore RMB center... One should not lose sight of the potential of Shanghai as an offshore RMB market," it said.

As Chinese mainland regulators set their own pace in internationalizing the RMB, the report suggests the Hong Kong city government should "do more on promoting the local RMB market such as the development of more RMB products and an active RMB repo market in Hong Kong."

Previous Page 1 2 3 Next Page

 
 
...
主站蜘蛛池模板: 偷拍亚洲综合 | 先锋资源中文字幕 | 牛人盗摄一区二区三区视频 | 日本爽爽爽 | 成人午夜影院在线观看 | 日韩第五页 | 日韩av片在线播放 | 欧美国产在线观看 | 欧美9999| 91精品国产综合久久久密臀九色 | 日韩免费在线视频观看 | 人人爽爽爽| 国产精品美女www | 色综合久久久 | 国产成人精品一区二 | 国产精品毛片一区二区 | 日本少妇aaa| 五月天天色 | 日本99热 | 在线观看成人免费视频 | 天天精品 | 免费观看特级毛片 | 一区二区精品 | 视频一区二区在线播放 | 天天色天天射天天干 | 米奇狠狠干 | 久久久久久久久影视 | 亚洲啊啊啊啊啊 | 国产 日韩 欧美 成人 | 香蕉视频在线免费播放 | 牛牛视频在线观看 | 桥本有菜av在线 | 久久久女人 | 国产视频入口 | 精品一区在线播放 | 国产在线观看免费网站 | 成年人黄色小视频 | 欧美激情视频在线播放 | 国产午夜精品在线 | 色老头一区二区三区在线观看 | 亚洲天堂免费在线 |