Clik here to view.
Panda Bonds could help China avoid the risks of US Treasury Bonds
Author: Yu Yongding China is deeply entangled in the global financial crisis, and will inevitably suffer heavy losses. China’s foreign exchange currency reserve has reached about $US 2 trillion, and...
View ArticleClik here to view.
China’s response to the global financial crisis
Author: Yu Yongding, CASS, Beijing Undoubtedly the most important impact of the global financial crisis (GFC) on the Chinese economy came from the fall in global demand, reflecting China’s extremely...
View ArticleClik here to view.
Liberalising China’s international capital movements
Author: Yu Yongding, CASS After the Chinese government launched its so-called Pilot RMB Trade Settlement Scheme in April 2009, efforts to internationalise the renminbi have made impressive headway. By...
View ArticleClik here to view.
China’s rebalancing act: between exports and domestic demand
Author: Yu Yongding, Beijing China’s Twelfth Five-Year Plan calls for a shift in the country’s economic model from export-led growth toward greater reliance on domestic demand, particularly household...
View ArticleClik here to view.
China’s Groundhog Day growth pattern
Author: Yu Yongding, CASS In 2011, in order to rein in a housing bubble and inflation, the People’s Bank of China (PBOC) raised the reserve requirement five times and benchmark interest rates on...
View ArticleClik here to view.
The forces driving RMB internationalisation
Author: Yu Yongding, CASS When renminbi internationalisation was making rapid progress in 2011, some leading investment banks predicted that by the end of 2012 Hong Kong’s offshore RMB deposits would...
View ArticleClik here to view.
China faces challenges but bears beware of betting on collapse
Author: Yu Yongding, CASS George Orwell once observed: ‘Whoever is winning at the moment will always seem to be invincible’. Not long ago, many in the West declared that China would soon be the number...
View ArticleClik here to view.
Can China beat deflation?
Author: Yu Yongding, CASS At a time of slowing economic growth and massive corporate debts, a deflationary spiral would be China’s worst nightmare. And the risk is mounting. The producer price index...
View ArticleClik here to view.
China still has room to move on RMB
Author: Yu Yongding, CASS In the first quarter of 2014, the People’s Bank of China (PBoC) finally succeeded in breaking persistent renminbi (RMB) appreciation expectations. Unfortunately, the...
View ArticleClik here to view.
The Trump test and the renminbi
Author: Yu Yongding, CASS Trump’s rhetoric during his campaign shows that he is seeking to turn back on established US policy towards China. Tough talk by his secretary of state, Rex Tillerson, and...
View ArticleClik here to view.
Backpedalling or a step forward in renminbi reform?
Author: Yu Yongding, CASS In early 2016, the People’s Bank of China (PBOC) introduced a new rule for setting the renminbi central parity rate against the US dollar. Instead of the previous rule...
View ArticleClik here to view.
China’s economy enters a new season of stability
Author: Yu Yongding, CASS Most Chinese economists believe that China’s growth has stabilised around 6.5 per cent (in line with its growth potential). The IMF echoes this view and expects the Chinese...
View ArticleClik here to view.
US case against Chinese trade is fake news
Author: Yu Yongding, CASS No one wins in a trade war. Yet US President Donald Trump seems determined to pursue one with China, which he accuses of causing the United States’ trade deficit, violating...
View ArticleClik here to view.
China must release the renminbi
Author: Yu Yongding, CASS China has had an inflexible exchange rate regime for many decades. Until 2015, China had a crawling-peg-like arrangement. On 11 August 2015, the People’s Bank of China (PBC)...
View ArticleClik here to view.
Putting the brakes on China’s slowdown
Author: Yu Yongding, CASS China’s economic performance in 2018 was rather disappointing. According to official statistics, the country’s growth rate during the year was 6.6 per cent, the lowest since...
View ArticleClik here to view.
China’s economic prospects call for stimulus
Author: Yu Yongding, CASS China’s annual GDP growth has been gradually falling since 2010 from over 10 per cent to nearly 6 per cent by 2019. Last November I argued it was time for China to stem its...
View ArticleClik here to view.
China is struggling to contain the impact of Omicron and stabilise the economy
Author: Yu Yongding, CASS China’s GDP growth rate has been falling since the first quarter of 2010. After more than 40 years of breathtaking growth, it is not surprising that China’s economy has lost...
View ArticleClik here to view.
Regional financial integration is unfinished business
Author: Yu Yongding, CASS Twenty-five years ago, the Asian Financial Crisis set back the economic progress made by East Asian countries by years, if not decades. The crisis was triggered by the crash...
View Article
