China
The IFF China Report 2020: The Belt and Road Initiative
Over the past six years, China has invested more than $500 billion in the Belt and Road Initiative (BRI) – of which there are now in excess of 150 participating counties and organisations. Leading Chinese and international policy-makers explain how BRI…
PBoC confirms digital currency pilot
Central bank will test central bank digital currency in a number of provinces
PBoC cuts key rate to record low as Chinese economy shrinks
Chinese central bank extends more emergency liquidity and cuts medium-term rate
The Belt and Road Initiative 2020 Survey – A more sustainable road to growth?
The third annual Belt and Road Initiative (BRI) survey reveals that central banks view BRI investment as sustainable compared with other forms of external debt, particularly given it is often proportionally less significant. Despite growing global trade…
Policy-makers making risky ‘one-round bet’ on Covid-19 – El-Erian
Former Pimco chief worried about readiness and ability of policy-makers to tackle a ‘second wave’ of infections
The IFF China Report 2020: China’s opening-up
Extending from east to west, China’s Belt and Road Initiative now encompasses as much as 65% of the world’s countries and a significant portion of global GDP. When first announced, investment was primarily targeted at transport infrastructure – but this…
Transfer season
Trade frictions with the US have caused a mass industrial transfer to China’s neighbours. Zhou Chengjun, IFF Academic Committee member and inspector of the Macro‑prudential Policy Bureau of the People’s Bank of China, says that shouldn’t stop China…
China cuts rate on excess reserves for first time in 12 years
PBoC levels up stimulus, cutting rate on excess reserves while reducing RRR for the third time this year
The IFF China Report 2020: Financial stability
When US President Donald Trump introduced tariffs on Chinese exports in 2018 it upset the world order and dampened economic growth. China responded in force, asking its firms to find alternative sellers for US exports. As a result, it has bought…
The long march to global growth
Liang Tao, vice-chairman of the China Banking and Insurance Regulatory Commission, says that China’s growth is fuelling innovation and modernisation, but financial regulation and governance needs to be tightened up for China to take its place at the top…
Is there a dollar funding squeeze in China?
China could benefit from joining the Fed’s dollar swaps network but political obstacles bar the way
Some thoughts on CBDC operations in China
People’s Bank of China deputy governor Fan Yifei outlines why he favours an indirect approach to introducing a CBDC in China
Fed opens dollar funding to majority of central banks
New repo facility aims to ease strains caused by global flight to the safety of dollars
East Asian economies face ‘profound’ impact from Covid-19 – World Bank
Report estimates growth could turn negative for the region in “lower-case” scenario
China makes surprise rate cut to resist crisis
PBoC unexpectedly cuts the seven-day repo rate while injecting liquidity, suggesting a willingness to deploy stronger countercyclical measures
Pricing the lives saved by coronavirus policies
How does the effort to reduce risks to human life from Covid-19 compare with the economic losses?
PBoC: over 1,000 Chinese finance workers infected by Covid-19
Deputy governor says 42 employees of finance firms have died because of coronavirus
Major economies already engaging in ‘currency wars’ – former IMF chief
De Larosière floats new commodity-based exchange rate regime; says “trust” is key to avoiding “beggar-thy-neighbour” policies
China will suffer recession, say Bank of Finland experts
Economic policy response has been fragmented and banks may not respond to PBoC incentives – research
Banks rush to tap new dollar liquidity facilities
IIF warns of major capital flight from emerging markets as demand for Fed-backed repos surges
The Tokyo Olympics: downside risks prevail
The Bank of Japan’s latest stimulus effort seems to be weak, and comes at a time when the benefits of hosting the Tokyo Olympics may be overstated – even if the games still take place
Asian central banks rush to roll out easing measures
Japan expands asset purchases; Korea cuts rates to record low; China extends lending and HKMA cuts capital buffer
PBoC injects $79 billion into virus-hit economy
Targeted RRR cut encourages smaller banks to lend to SMEs; more easing steps expected to stabilise economy
PBoC takes on regulation of key financial infrastructure
Chinese central bank to take bigger role in regulation as country seeks to improve financial infrastructure