THE onset of a global economic recession due to the COVID-19 pandemic and growing tensions between China and the U.S.in 2020 has fueled a spirit of pessimism around the world.The process of RMB internationalization ne...
Yu Xinrong,Vice Minister of Agriculture and Rural Affairs,revealed at a recent summit,“To revitalize the rural areas,at least RMB 7 trillion investment is needed.Besides,a package of fiscal and financial policies as ...
The China Council for the Promotion of International Trade(CCPIT)recently released the Annual Report on China’s Exhibition Industry 2018.Feng Yaoxiang,head of CCPIT’s investment department,said that as an important ...
ONE afternoon in mid-September,Chen Shi was at Frankfurt Airport,having just finished his trip to Europe.Seeing the long queue for tax reimbursement,he worried he would miss his flight,but to his surprise an airport w...
ON April 28,2014,the Society for Worldwide Interbank Financial Telecommunication(SWIFT)released its latest ranking of currencies used in global payments,China'sRennlinbi(RMB)ranked seventh,its activity share in paymen...
ON March 23,2009,Zhou Xiaochuan,governor of the People's Bank of China,published his article,“Thoughts on the Reform of the International Monetary System,”which has attracted considerable public interest.What is the...
The State Council announced in late December 2008 that in an effort to galvanize circulation,kindle consumption and bolster foreign trade it would allow tentative RMB settlement of goods transactions between Guangdong...
ON October 28,2004,the People's Bank ofChina took a U-turn and,after almost a decade of reductions,announced a 0.27 percent increase in RMB interest rates.This superficially inconsequential rise caused quite a stir on...
Lehman Brothers say that the recent 0.27 percentage point rise in RMB interest rates is just for starters,and that China will continue to higher RMB interest rates,They forecast a rise up to 6 percent on a oneyear loa...
Chongqing Municipality has revealed that it will invest 60 billion yuan in electric power construction by 2010,in a bid to solve the problem of electricity supply.According to its program,by the end of 2010 Chongqing ...