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Unsettling economic data, an equities meltdown, now intervention in the Chinese currency market by the central bank. Signs China is stepping back from financial liberalisation?
Not according to the authors of ANZ's new RMB handbook who argue despite the volatility - and indeed as part of it - the Chinese government is still preceding with a more market-oriented financial system.
"The economic foundation is still sound and healthy."
Lucy Chen, ANZ global head RMB productsMeanwhile, for business both within and outside China, the ongoing internationalisation of the RMB will be a critical business focus.
In this cross-border interview with BlueNotes, the authors, Raymond Yeung (senior economist), Daniel Everett (head of RMB) and Lucy Chen (global head of RMB products) unpick the complexity of an emerging global currency.
The views and opinions expressed in this communication are those of the author and may not necessarily state or reflect those of ANZ.
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EDITOR'S PICKS
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The Asian Infrastructure Investment Bank passed another milestone in late June when 50 of its 57 founding members signed articles of agreement (AOA) for the institution. So now it is in operational mode, what can we expect from the AIIB?
2015-07-06 13:04 -
I have many conversations about the renminbi (RMB) yet I almost never walk away without some new insight, perspective or appreciation of the opportunity emerging as China liberalises its currency and financial markets.
2015-07-15 17:56 -
China’s central bank, the People’s Bank of China (PBoC) surprised market by announcing it would use a daily fixing rate method to devalue the Yuan (the Renminbi or RMB). This was an historic decision as it signals a possible shift in short-term economic and financial dynamics across the world economy.
2015-08-12 15:18