FECs are a separate form of currency developed in 1980 for the foreigners to use when they paid for their expenses in China. But, in 1994, the People’s Bank of China stopped issuing FECs and gradually withdrew them from circulation. The swap market, the other half of the dual-market sy...
They have made considerable strides. In 2013, for example, China’s first free-trade zone opened in Shanghai; there are now 19. In 2015, the country launched the RMB-based Cross-Border Interbank Payment System (CIPS), a potential rival to the US’s Society...
During that period, about 80 % of the hard-currency transactions in this country took place in the swap market. The swap rate was 8.7 RMB per dollar. The dual-track foreign exchange system was not favorable to China’s international trade and affected China’s apppcation for joining the ...
Technology is, without a doubt, reshaping the global financial system. Among others, Central Bank Digital Currency (“CBDC”) is making the impossible possible. What is it? In essence, CBDC is the digital form of fiat money and, unlike other decentralised virtual currencies and cryptocurrencies,...
The article reports that Chinese shipbuilder Yangzijiang Shipbuilding will be the first renminbi (RMB)-denominated stock which will trade in the dual currency platform of the Singapore Exchange (SGX). It mentions that SGX also provides China A50 index futures, which is the only offshore access to...
The Chinese currency, the renminbi, has been a subject of controversy between China and its trade partners (especially the US), which accuse China of manip... KF Wong,KC Fung,R Lai 被引量: 0发表: 0年 Early Warning System for RMB Appreciation: Research Based on Signaling Approach This pa...
infrastructure construction of the foreign exchange market, marking an important step in the direction of China's deepening of the foreign exchange derivatives market and the liberalization of the exchange rate system. It also releases a signal that the adjustment of the RMB exchange rate will ...