Posts tagged "RMB"

YUAN DEVALUATION

20

Jan 2016


Global Sourcing
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YUAN DEVALUATION

It's been quite a time, we haven't talked about Chinese economy again. This year, we keep hearing from the yuan devaluation, stock devaluation, etc. Regarding this situation, a question rose, why the yuan devaluation does not occur to decrease sharply?   The Shocking New Year Start Immersing stocks and currency have made a dramatic start to the new year in China. The closely watched Shanghai Composite Index fell 3.6 per cent on Friday, down more than 20 per cent from its recent hi...

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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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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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CHINA and CHILE FTA

20

Jul 2015


Global Sourcing, International trade, Opportunities
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CHINA and CHILE FTA

Hello Monday, I bring good news for you! This is about the China and Chile FTA, and the newest update of its FTA (Free Trade Agreement). An avoidance of DTA (which stands for Double Taxation Agreement) was signed last May by the Premier of PRC, Li KeQiang and other delegation of Chinese senior officials went to Chile. On that particular visit, China and Chile also updated their Free Trade Agreement and agreed to set up an RMB clearing centre in Chile.   Let's dig a little deeper... ...

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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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