please contact sales@tanchin.hk for any inquiry
The central bank on Wednesday continued to suspend reverse repurchases and announced that it would issue a yuan bill in Hong Kong next week. Industry insiders believe that, at present, the domestic capital environment continues to loosen, the central bank to maintain reasonable liquidity abundant and stable economic growth intention unchanged; the increase of offshore central bank invoices as an investment tool, to a certain extent, will help ease the depreciation of the RMB.
The central bank announced earlier that it would not continue to carry out reverse repurchase operations today, taking into account the further increase in fiscal expenditure at the end of the month and the impact of hedging and reverse repurchase maturity. In addition, the central bank will tender for the first time in Hong Kong next Wednesday (November 7) to issue two issues of central bank bills totaling 20 billion yuan, three months and a year and a half.
Wang Yang, a Financial Research Institute at the State Council Development Research Center, said that the central bank's intention to ensure reasonable and sufficient liquidity in China continues to be a manifestation of the desire to maintain stable economic growth. In the context of pending trade disputes, it is no longer appropriate to protect the exchange rate at the expense of a substantial reduction in foreign exchange reserves.
"The central bank's decision to issue a RMB central bank bill in Hong Kong will undoubtedly help to stabilize the RMB exchange rate in the short term, but in the medium and long term, market pricing will eventually be required."
Since mid-June, the spot exchange rate of the renminbi has been falling against the dollar, breaking the 6.96 mark on Tuesday, breaking more than 10-year lows since May 20, 2008.


please contact sales@tanchin.hk for any inquiry
PREVIOUS:Bearing side cover packing Improvement        

CSCF060 CSCF055 CSCF050 CSCD160 CSCD140 CSCD120 CSCD110 CSCD100 CSCD090 CSCD080 CSCD070 CSCD065 CSCD060 CSCD055 CSCD050 CSCD045 CSCD040 CSCU110-2RS CSCU100-2RS CSCU090-2RS