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China devalues yuan after poor economic data
August 11, 2015--China devalued its currency on Tuesday after a run of poor economic data, a move it billed as a free-market reform but which some suspect could be the beginning of a longer-term slide in the exchange rate.
The central bank set its official guidance rate down nearly 2 percent to 6.2298 yuan per dollar-its lowest point in almost three years-in what it said was a change in methodology to make it more responsive to market forces.
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Source: Reuters
NDRC plans steps to bolster bond market
August 6, 2015--The National Development and Reform Commission, the nation's top economic planner, said on Wednesday that it will come out with more initiatives to develop the debt market, particularly to boost funding for infrastructure projects and stabilize the overall economy.
The NDRC will soon permit two policy banks to fund big ticket infrastructure projects through bond issues, but it was yet to finalize the details, said sources close to the issue.
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Source: chinadaily.com.cn
China Vows To Step Up Targeted Policies To Combat "Relatively Big" Downward Pressure On Economy
July 31, 2015--China's top leadership vowed on Thursday to use targeted policies to combat the "relatively big" downward pressure on its economy, China's state-run Xinhua news agency reports.
The Politburo, China's top decision-making body, said that the nation will keep its macro policies stable, make "pre-emptive adjustments", and fine-tune economic policies in a timely manner in order to support the economy.
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Source: emergingequity.org
Chinese regulator vows share support after markets tumble 8.5 percent in a day
July 27, 2015--China said on Monday it was prepared to buy shares to stabilize the stock market and avert "systemic risks", after major indices plunged more than 8 percent in the biggest one-day fall since 2007.
The securities regulator also said market authorities would deal severely with anyone engaged in the "malicious shorting of stocks", in Beijing's latest attempt to stave off a full-blown market crash.
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Source: Reuters
Chinese fund manager GF International launches MSCI China A International ETF
July 27, 2015--Chinese asset manager GF International Investment Management Ltd on Monday said it will launch an exchange-traded fund (ETF) tracking the MSCI China A International Index, becoming the first ETF in Asia to track the index.
The index was introduced in June last year and represents the A share component of the MSCI Emerging Markets Index when the latter fully includes A shares-or stock traded in Shanghai or Shenzhen by mainland investors and some foreign institutions.
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Source: Reuters
Singapore at 50 Confronts Aging, Economic Restructuring
July 23, 2015--Singapore's economy performing well, with full employment, low inflation
Greater emphasis on skills and productivity
Growing stress on equity, with spending on health, education, infrastructure
Singapore's economy continues to perform well, and is expected to grow at about 3 percent in 2014-15, and enjoy full employment and low inflation, according to the IMF's latest economic assessment of the city-state.view more
view the IMF SINGAPORE
2015 ARTICLE IV CONSULTATION
Source: IMF
IMF-Japan: Ramping up Policy Actions for Lasting Economic Change
July 23, 2015--Japan's prospects improved, but stronger structural reforms critical to meet long-term challenges
Need for balanced, credible fiscal consolidation, while supporting growth
Complement further monetary easing by more market guidance, communication.
Abenomics has lifted Japan out of the doldrums, according to the IMF's latest assessment of the Asian economy. But, policies need to be reinforced to end the lingering deflationary mindset, raise growth, restore fiscal sustainability, and maintain financial stability without undue reliance on yen depreciation.view more
view the IM JAPAN
2015 ARTICLE IV CONSULTATION
Source: IMF
China's Road To Reserve Currency Status: Ten Years Of The Flexible Renminbi
July 22, 2015--On Thursday,July 21, 2005, Australia opened the batting at Lord's Cricket Ground in London on the way to winning the first Ashes test against England.
Currency traders, however, had to tear themselves away from the action after China's out-of-the-blue announcement that it would replace its decade-old currency peg with a more flexible exchange rate regime.
The move loosened the renminbi’s strict Rmb8.276-8.28 range against the dollar and from the next day, it was allowed to fluctuate by up to 0.3 per cent against the greenback and by up to 1.5 per cent against other currencies.
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Source: emergingequity.org
BlackRock steps up China drive with new license to raise onshore funds
July 21, 2015--U.S. fund giant BlackRock Inc (BLK.N) has won a special new licence that will allow it to raise funds in China directly for the first time, a senior executive told Reuters, paving the way for the world's largest money manager to expand in the mainland.
Speaking in an interview in Bangkok this week, BlackRock vice chairman Philipp Hildebrand, said his company was granted a so-called Qualified Domestic Limited Partnership (QDLP) license "reasonably recently".
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Source: Reuters
China: Are we heading for the zero lower bound?
July 21, 2015--The raft of monetary policy measures adopted in China since late 2014 has had only a moderate impact on overall monetary conditions.
Conditions remain much tighter than a year ago thanks mostly to strong effective exchange rate appreciation. With underlying GDP growth still looking weak, more monetary policy moves are likely-and China may even face the prospect of short-term rates dropping towards the zero lower bound.
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Source:Oxford Economics
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