Tag Archives: PBOC

After studying trade and finance as the main use of the blockchain, the bank launched the first sovereign blockchain in 2018, registering a couple of patents along the way. So far, the country ranks as the largest blockchain patent holder in the world. The PBoC maintains the bank will not support any public blockchain yet as it focuses on its own blockchain project. So far, its blockchain project that offers multi-stage accounts receivable financing, a fast track for rediscounts and...

For the first time since March 2008, PBOC fixed the yuan weaker than 7 per USD.... Zero Hedge China Fixes Yuan Weaker Than 7 For First Time In Over 11 Years Tyler DurdenSee also at ZHRay Dalio Tells Investors 'Bet On China' As The Next Global Empire

China needs to keep growth high enough to maintain social stability, but also must preserve external stability via the renminbi’s exchange rate. How China manages its currency during its economic policy shift could have important global consequences. China is not sovereign in its currency since it pegs to the dollar. Currency sovereignty requires floating the rate whereas as peg sets a fixed rate. This means that China domestic policy is constrained by have to manage the exchange rate...

My speech is composed of four parts. The first part is an introduction to China’s monetary policy framework, the second part clarifies how monetary policy supports the real economy, the third part is about how to prevent and resolve financial risks, and the last part focuses on how to strike a balance between internal and external equilibrium. As we know, the Law of the People’s Bank of China explicitly stipulates that the ultimate goal of China’s monetary policy is to maintain currency...

Float it already! No float, no currency sovereignty. East Asia ForumChina must release the renminbiYu Yongding is a Senior Fellow at the Chinese Academy of Social Sciences and former member of the monetary policy committee of the People’s Bank of China. This article is abridged from Yu Yonding, ‘The reform of China’s exchange rate regime’ in Ligang Song and Ross Garnaut (eds.), Forty Years of Chinese Reform, China Update, ANU Press, 2018.

China has selected American-trained economist Yi Gang to become the country’s new central bank governor, the Wall Street Journal (WSJ) reported on Sunday, citing unnamed people with knowledge of the matter. "American-trained." Oh oh. Hope he is not as clueless as the US Fed and conventional US academics. OANChina To Appoint Yi Gang As New Central Bank Governor: WSJ

Keynote speech by Mr Zhou Xiaochuan, Governor of the People's Bank of China, at the 2017 Lujiazui Forum "Financial reform and steady development from a global perspective", Shanghai, 21 June 2017. Bank of International SettlementsZhou Xiaochuan: The opening-up of Chinese economy - from manufacturing industry to service industryKeynote speech by Mr Zhou Xiaochuan, Governor of the People's Bank of China, at the 2017 Lujiazui Forum "Financial reform and steady development from a global...

Randy Wray gets a mention.St. Louts Post-DispatchNicklaus: China's worry about 'Minsky moment' may be a good sign David Nicklaus, business columnist for the St. Louis Post-Dispatch.

Hyman Minsky goes to China. China will fend off risks from excessive optimism that could lead to a "Minsky Moment", central bank governor Zhou Xiaochuan said on Thursday, adding that corporate debt levels are relatively high and household debt is rising too quickly. A Minsky Moment is a sudden collapse of asset prices after a long period of growth, sparked by debt or currency pressures. The theory is named after economist Hyman Minsky...."If there are too many pro-cyclical factors in the...

Zhou Xiaochuan, President of the People’s Bank of China, said that the nation will continue to implement a proactive fiscal policy and a prudent monetary policy, and continue to fight shadow banking, the real estate bubble and other risks, China Securities Journal reported.“China’s price level has remained stable, the foreign exchange market has ran smoothly and cross-border capital flows were balanced,” Zhou said. “China will further expand the financial industry, actively use new...