Posts tagged "currency"

SIBERIA: GAMBLING HEAVEN FOR CHINESE

08

Jan 2016


Global Sourcing
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SIBERIA: GAMBLING HEAVEN FOR CHINESE

For the past few decades, since China opened its door to other countries, many rich people have been born and it's increasing every year. Today, if you go to European countries or other shopping-oriented places, you'll find many Chinese people inside the luxury stores who dare to stir their money around. Not only luxury goods, but they also love casino. Far East Russia   The Far East territory belongs to Russia and its size is larger than the European Union. It is only occupied by 6m...

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RMB TO BE IMF’S RESERVE CURRENCY

09

Dec 2015


Global Sourcing
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RMB TO BE IMF’S RESERVE CURRENCY

Finally, the decision for Chinese Yuan or RMB to be added to IMF's basket of elite reserve currency is finalized. Here is the detail...     Benefit, benefit, benefit... Despite many controversies, analysts say that the IMF’s decision is in large part a political one designed to encourage stronger economic overhauls in the world’s No. 2 economy. Christine Lagarde believes this milestone will be the beginning of many reforms. This move will be effective in the late of next y...

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CHINA ECONOMY WATCH

15

Oct 2015


Global Sourcing, Opportunities
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CHINA ECONOMY WATCH

Hello Wednesday! Yeay, we're in the middle of the week (again)! Today, I'm writing an article about China Economy watch based on one of my favorite economic figures: Christine Lagarde, the head of IMF.   Here is the review...   "I would say that it's a recovery that is decelerating a bit, and we are seeing massive transitions at the moment" she said and it was expected to gain momentum next year.   After such a massive growth over decades, China's economy slowed to 7.4...

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RMB TO TRADE IN A WIDER RANGE

28

Jul 2015


Global Sourcing, International trade, Opportunities
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RMB TO TRADE IN A WIDER RANGE

We know from the news that China's capital market is in a hot mess, but what about the trading sector? The Chinese government just set up a policy to improve the exchange rate mechanism and expand the scale of the RMB trade settlements to boost its export. Check the article below to know more details (click here for other reference). China's decision to allow the renminbi to trade in a wider range against the US dollar will help boost exports and improve use of the currency globally, experts s...

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Direct Use of Yuan and Yen

11

Jan 2012


Global Sourcing, Logistics
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Direct Use of Yuan and Yen

Chinese Premier Wen Jiabao told visiting Japanese Prime Minster Yoshihiko Noda that China is willing to work with Japan in promoting the direct use of their respective currencies in bilateral trade.   China's central bank announced shortly after the Wen-Noda talks to encourage the direct use of Chinese currency RMB, or the yuan, and Japanese yen in cross-border transactions between China and Japan.   The agreement is expected to give the Chinese yuan a more powerful role in...

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RMB Kick offs against Aussie Dollar

01

Dec 2011


Global Sourcing, Logistics, Opportunities
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RMB Kick offs against Aussie Dollar

The Chinese local currency renminbi (RMB) kicked off trading against the Australian dollar and the Canadian dollar in the country’s onshore market on Monday. The two new foreign currencies have become the latest additions to the seven other foreign currencies that are currently being traded directly against the RMB.   The RMB opened at 6.1266 against the Canadian dollar on the first day of trading, after the People’s Bank of China (PBOC) fixed the RMB/Canadian dollar’s mid-point...

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