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YUAN

54 Posts
Pagina: «« 1 2 3 | Laatste | Omlaag ↓
  1. [verwijderd] 26 juli 2005 13:21
    quote:

    postzak schreef:

    PEKING De Chinese centrale bank zegt
    dat de Chinese munt de yuan voorlopig
    niet opnieuw wordt opgewaardeerd.Vorige
    week werd de koppeling aan de dollar
    losgelaten en de yuan duurder.De markt
    speculeerde op verdere Chinese stappen.

    teletekst.nos.nl/tekst/510-01.html
    Vreemd want mijn bronnen vertellen dat China de komende tijd de munt verder zal laten revalueren.

    The Artist

    ps: bron : WWW
  2. [verwijderd] 26 juli 2005 14:06
    Voorlopig geen nieuwe opwaardering Chinese munt
    Een nieuwe opwaardering van de Chinese munteenheid, de yuan, is voorlopig niet aan de orde. Dat laat de Chinese centrale bank in een verklaring weten.

    Koppeling
    Vorige week besloot China onder buitenlandse druk de jarenlange koppeling tussen de yuan en de Amerikaanse dollar los te laten en zijn munteenheid met 2,1 procent te revalueren. Op de valutamarkten deden vervolgens speculaties de ronde dat dit nog maar een begin was. Die geruchten heeft de centrale bank nu in de kiem gesmoord.

    Geleidelijk
    In de verklaring zegt de bank dat de koers van de yuan in de nabije toekomst niet zal veranderen. Eventuele veranderingen in het wisselkoerssysteem zullen zich geleidelijk voltrekken, aldus de bank. Vooral de Verenigde Staten zijn voorstander van een duurdere yuan. Zij vinden dat China met zijn goedkope munteenheid een oneerlijk handelsvoordeel heeft.

    www.rtl.nl/(/financien/rtlz/home/)/co...

  3. [verwijderd] 26 juli 2005 17:13


    Wie kan dit uitleggen AUB, convertibel in wat ???

    Yuan pas over vijf jaar volledig inwisselbaar

    De Chinese munt, de yuan, zal op zijn vroegst over vijf jaar volledig convertibel worden. De Chinese autoriteiten vrezen dat hedge funds de yuan in een ravijn storten.

    Dat heeft Li Deshui gisteren gezegd in een interview met financieel persbureau Bloomberg. 'Hedge funds beschikken wereldwijd over $ 800 mrd tot $ 1000 mrd en het Chinese financiële stelsel is relatief zwak. Als de yuan volledig inwisselbaar zou zijn, zou de munt aangevallen worden door hedge funds', aldus Li. Hij gaf niet aan wat de reden voor een dergelijke aanval zou zijn.

    China heeft de afgelopen jaren meerdere malen gewezen op de gevaren van het grensoverschrijdende kapitaalverkeer. De regering wil eerst de balansen van de bancaire sector verder versterken voordat meer kapitaal het land mag verlaten. Op dit moment mogen Chinezen slechts beperkt geld over de grens sturen. Als die beperking opgeheven wordt, zou dat tot een vlucht van spaargeld uit China kunnen leiden. Dat zou solvabiliteitsproblemen voor de Chinese banken opleveren. 'Onze banken zijn daar niet sterk genoeg voor en ons monetaire systeem blijft achter bij de internationale standaard', aldus Li.

    Met vriendelijke groeten

    Muse
  4. [verwijderd] 27 juli 2005 10:47
    quote:

    The artist schreef:

    Wie kan dit uitleggen AUB, convertibel in wat ???

    Yuan pas over vijf jaar volledig inwisselbaar

    De Chinese munt, de yuan, zal op zijn vroegst over vijf jaar volledig convertibel worden. De Chinese autoriteiten vrezen dat hedge funds de yuan in een ravijn storten.

    Dat heeft Li Deshui gisteren gezegd in een interview met financieel persbureau Bloomberg. 'Hedge funds beschikken wereldwijd over $ 800 mrd tot $ 1000 mrd en het Chinese financiële stelsel is relatief zwak. Als de yuan volledig inwisselbaar zou zijn, zou de munt aangevallen worden door hedge funds', aldus Li. Hij gaf niet aan wat de reden voor een dergelijke aanval zou zijn.

    China heeft de afgelopen jaren meerdere malen gewezen op de gevaren van het grensoverschrijdende kapitaalverkeer. De regering wil eerst de balansen van de bancaire sector verder versterken voordat meer kapitaal het land mag verlaten. Op dit moment mogen Chinezen slechts beperkt geld over de grens sturen. Als die beperking opgeheven wordt, zou dat tot een vlucht van spaargeld uit China kunnen leiden. Dat zou solvabiliteitsproblemen voor de Chinese banken opleveren. 'Onze banken zijn daar niet sterk genoeg voor en ons monetaire systeem blijft achter bij de internationale standaard', aldus Li.

    Met vriendelijke groeten

    Muse
  5. [verwijderd] 27 juli 2005 12:00
    Dollar steeg tov YUAN:

    The Chinese yuan closed at 8.1128 to the US dollar today, the central bank said in a statement on its website

    That compared with a closing price of 8.1099 yesterday

    The central bank did not give the intraday high and low prices

    In accordance with its new policy, the State Administration of Foreign Exchange is taking the closing price as the mid-point for trading tomorrow
  6. [verwijderd] 29 juli 2005 15:03
    China's Currency Inches Higher

    BEIJING (AP) - China's currency inched up in the first week since the government severed its decade-long peg to the U.S. dollar, but vague statements by the nation's central bank have done nothing to clarify how quickly it will be allowed to rise.

    The yuan closed Friday at 8.1056 to the U.S. dollar, its strongest level yet. It has gained 0.05 percent since July 21, when China abandoned the yuan's fixed-rate link to the dollar, raised its value and adopted a more flexible system based on a basket of foreign currencies.

    news.moneycentral.msn.com/provider/pr...
  7. [verwijderd] 29 juli 2005 15:25
    Voor de derde maal.

    quote:

    The artist schreef:

    Wie kan dit uitleggen AUB, convertibel in wat ???

    Yuan pas over vijf jaar volledig inwisselbaar

    De Chinese munt, de yuan, zal op zijn vroegst over vijf jaar volledig convertibel worden. De Chinese autoriteiten vrezen dat hedge funds de yuan in een ravijn storten.

    Dat heeft Li Deshui gisteren gezegd in een interview met financieel persbureau Bloomberg. 'Hedge funds beschikken wereldwijd over $ 800 mrd tot $ 1000 mrd en het Chinese financiële stelsel is relatief zwak. Als de yuan volledig inwisselbaar zou zijn, zou de munt aangevallen worden door hedge funds', aldus Li. Hij gaf niet aan wat de reden voor een dergelijke aanval zou zijn.

    China heeft de afgelopen jaren meerdere malen gewezen op de gevaren van het grensoverschrijdende kapitaalverkeer. De regering wil eerst de balansen van de bancaire sector verder versterken voordat meer kapitaal het land mag verlaten. Op dit moment mogen Chinezen slechts beperkt geld over de grens sturen. Als die beperking opgeheven wordt, zou dat tot een vlucht van spaargeld uit China kunnen leiden. Dat zou solvabiliteitsproblemen voor de Chinese banken opleveren. 'Onze banken zijn daar niet sterk genoeg voor en ons monetaire systeem blijft achter bij de internationale standaard', aldus Li.

    Met vriendelijke groeten

    Muse
  8. [verwijderd] 29 juli 2005 15:31
    quote:

    M.C. schreef:

    Volgens mij betekend het eigenlijk niet "inwisselbaar" maar:
    "Vrij inwisselbaar" , tegen andere munten dus zonder dat de chinese bank de koers beïnvloed.
    Marc.
    Dus als ik het redelijk goed begrijp is de Yuan pas binnen 5 jaar wereldwijd volledig vrij verhandelbaar.

    Bedankt.

    The Artist
  9. [verwijderd] 9 augustus 2005 19:17
    Bedrijven kunnen voortaan valutarisico in China afdekken
    Buitenlandse bedrijven hebben voortaan de mogelijkheid om hun valutarisico in China af te dekken via termijncontracten. Dat heeft de Chinese centrale bank bekendgemaakt.

    Vrijmaken valutahandel
    Het besluit is een nieuwe stap van China in het vrijmaken van zijn valutahandel. Vorige maand zette de centrale bank een belangrijke stap om zijn munteenheid, de yuan, vrijer te laten bewegen.

    Yuan
    De bank besloot toen om de jarenlange koppeling tussen de yuan en de dollar voorzichtig los te laten en de yuan 2% te revalueren. China lijkt de liberalisering van zijn financiële markten in geleidelijke stappen uit te voeren. Het zal volgens analisten nog jaren duren voordat de yuan volledig inwisselbaar is.

    www.rtl.nl/(/financien/rtlz/home/)/co...

  10. [verwijderd] 10 augustus 2005 14:37
    China Shows Composition of Currency Basket

    Wednesday August 10, 7:45 am ET

    China Discloses Composition of Currency Basket Used to Set Yuan's Value

    SHANGHAI, China (AP) -- China disclosed for the first time Wednesday the composition of the basket of currencies used to set the yuan's value, saying it mainly includes the dollar, euro, yen and Korean won.


    The currencies of Singapore, Britain, Malaysia, Russia, Australia, Canada and Thailand are also considered in setting the yuan's foreign exchange rate, Zhou Xiaochuan, the central bank governor, said during a speech to launch a new operations center for the People's Bank of China in Shanghai.

    The news dispels at least some of the mystery surrounding the yuan's new exchange rate, although there was no information about the weightings of each currency.

    When China cut its currency's decade-long peg to the dollar on July 21 and allowed it to move in a restricted float, it said the yuan's exchange rate would be determined by a collection of unspecified currencies.

    At that time, the central bank said only that it had raised the yuan's value by about 2 percent to 8.11 yuan to the dollar from the previous rate of 8.27, and that the yuan would be allowed to move 0.3 percent in either direction each day.

    Since then, the yuan has appreciated slightly on Shanghai's restricted foreign exchange market, closing at 8.1062 yuan to the dollar Wednesday.

    China's central bank also said Wednesday that it will tighten oversight of the country's foreign exchange markets while moving to liberalize its currency trading regime.

    The statement came a day after it announced Beijing was expanding the country's foreign-exchange forwards business and launching currency swaps -- moves that, as expected, had little immediate impact on the local market.

    On Wednesday, the bank said it was also allowing nonbanking firms to trade in its onshore foreign exchange market and was launching foreign-exchange forwards on the domestic interbank market.

    While widening currency trading onshore, the bank said it would strengthen its oversight and management of the market "to guarantee stable, orderly market operations and maintain the basic stability of the yuan exchange rate at a reasonable, balanced level."

    The central bank said the new rules allowing broader use of foreign exchange derivatives were aimed at meeting the need to hedge foreign exchange risk following the July 21 revaluation.

    "The timing and conditions are ripe for expanding the forex forwards business and launching the swaps business," the People's Bank of China said in a statement.

    China began allowing some banks to offer yuan-foreign currency forwards to their clients beginning in 1997 as part of a pilot program. Up to now, only four major state-owned banks and three stockholding commercial banks have participated in the program, the central bank said.

    The new rules allow all domestic banks to seek approval for conducting forwards trading. Financial institutions given that approval will be qualified six months later to begin swaps business.

    The new rules also expand the range of forwards trading allowed.

    However, the central bank said swaps of the yuan against foreign currencies couldn't involve the exchange of interest rates, implying the transactions wouldn't leave loopholes for trading of interest rate swaps.

    Foreign banks also will be allowed to provide the derivative products to their clients.
  11. [verwijderd] 16 augustus 2005 19:09
    China's `Visionary' Central Banker Zhou Leads Yuan Float Push

    Aug. 17 (Bloomberg) -- Guan Anping remembers when Zhou Xiaochuan first urged China's leaders to let the yuan float in the world marketplace. He didn't know then that Zhou would get his message across -- 10 years later.

    Zhou advocated freeing the yuan in late 1995, a few months after the Chinese government had pegged the currency at about 8.3 to the dollar. Zhou, now China's central bank governor, was the new director of the State Administration of Foreign Exchange.

    ``He was a visionary on yuan reform long before it became a global issue,'' says Guan, 48, managing partner at Beijing law firm Anping & Partners and former counsel to the Trade Ministry.

    On July 21, China's government replaced the yuan's peg with a system allowing limited fluctuation against a basket of currencies that includes the dollar, euro and yen. China had been resisting U.S. appeals to let the currency appreciate since September 2003. The move suggests Zhou, 57, is gaining influence with policy makers.

    ``He certainly is a rising political star and there aren't too many people of his caliber within the leadership,'' says Joseph Cheng, 55, professor of politics at City University of Hong Kong. ``Given the tremendous importance of the financial- services sector, I think he's being groomed for higher office.''

    Zhou has helped create a technically competent central bank that is the bureaucracy's most capable agent of change, says Jonathan Anderson, 43, chief Asia-Pacific economist in Hong Kong at Zurich-based UBS AG, Europe's largest bank.

    `Testament to His Skills'

    Anderson first worked with Zhou in 1997, when he was a central bank vice governor and Anderson was the International Monetary Fund's representative in Beijing. Zhou became bank governor in December 2002.

    ``His ability to push any yuan movement is testament to his skills and ability to move forward a moderate yet reform agenda,'' Anderson says.

    Two days after the central bank announced the yuan appreciation, Zhou was advocating more. In an impromptu speech to the annual Chinese Bankers Forum at Beijing's Presidential Hotel on July 23, he likened a fixed exchange rate to armor against currency speculators. If it was a fierce battle, the shield might fail under pressure, he said.

    ``The floating exchange rate is more like a cushion, providing a better protection against assault,'' Zhou said. ``Attackers may not be able to get away unscathed.''

    Challenge for China

    It was a challenge for China to change its thinking on the yuan, Zhou told attendees. They included Jiang Jianqing, president of Industrial & Commercial Bank of China, the nation's largest lender; Chang Zhenming, president of China Construction Bank, the third-largest lender; and Tang Shuangning, vice chairman of the China Banking Regulatory Commission. All are based in Beijing.

    Zhou's speech drew a riposte from Xia Bin, director of finance at the State Council's Development Research Center in Beijing. He was formerly general manager of the Shenzhen Stock Exchange and an adviser on streamlining the central bank.

    ``My viewpoint is different from Zhou,'' Xia, 54, told the forum. ``I don't think China should move to a fully floating exchange rate in a rush. That will bring big trouble.''

    Questions to Zhou for this article, faxed to the bank's press office in Beijing, weren't answered.

    The yuan can trade within a limit of 0.3 percent on either side of the yuan-dollar exchange rate published by the central bank each day, and 1.5 percent on either side of the rate published for a basket of other currencies.

    Basket of Currencies

    Zhou on Aug. 10 said the other currencies include the euro, yen, South Korean won, Singapore dollar, British pound, Malaysian ringgit, Australian dollar, Russian ruble, Thai baht and Canadian dollar. The bank also announced it would open the foreign- exchange market to companies that import and export at least $2 billion a year.

    Born in eastern Jiangsu province, Zhou has an engineering degree from Beijing Chemical Engineering Institute and a doctorate in economic engineering from Beijing's Tsinghua University, according to the central bank's Web site. He speaks fluent English and is the first central bank chief with a doctorate degree.

    His father, the late Zhou Jiannan, was Machinery Industry Minister in the early 1980s under Deng Xiaoping. As a ``princeling,'' or child of a high-ranking party cadre, Zhou has benefited from political connections, says Cheng Li, professor of government at Hamilton College in Clinton, New York, and author of ``China's Leaders: The New Generation'' (Rowman & Littlefield Publishers Inc., 2001).

    Jiang Zemin Connection

    Among Zhou Jiannan's ministry workers was Jiang Zemin. Jiang became Communist Party leader in the purge that followed the June 1989 military crackdown in Tiananmen Square, and China's president from 1993 to 2003. He probably championed Zhou's appointment as central bank governor, Li says.

    ``His father was Jiang Zemin's close friend, and even mentor for quite a while,'' he says. ``There are certainly patron ties.''

    Through the 1990s, Zhou moved steadily up the banking and finance hierarchy. He was vice president of Beijing-based Bank of China, the country's second-largest lender, from 1991 to 1995, then spent a year at the State Administration of Foreign Exchange. He was central bank vice governor in 1996 and 1997, president of China Construction Bank from 1998 to 2000 and chairman of the China Securities Regulatory Commission from 2000 until his central bank appointment.

    While connections may have helped, Zhou succeeded on his merits, says Guan, the lawyer. The pair met in 1986 at the Beijing-based Ministry of Foreign Trade and Economic Cooperation, now the Commerce Ministry. Zhou left as an assistant minister in 1989.

    Step by Step

    Zhou began advocating step-by-step changes toward a fully convertible yuan as a means to promote economic growth, Guan says. In academic journals in 1995, he wrote that the first move should be to give trading companies and ``weak'' industries such as steelmaking greater access to foreign exchange, Guan says.

    His views then appeared in ``Building Market Economics and Visualizing Market Designs'' (Central Editing & Translation Publishing House; Beijing, 1996), which Zhou co-authored with fellow economists Wu Jinglian and Rong Zunben.

    ``Many people felt the yuan should be free-floated but disagreed on how it was to be done,'' Guan says. ``Zhou's voice was a pioneer in the debate back then.''

    Left to his own devices, Zhou probably would have favored a larger initial move last month, says Nicholas Lardy, senior fellow at the Institute for International Economics in Washington.

    `Compromise'

    As central bank chief, Zhou can only recommend changes to the State Council, China's highest administrative body. The council in turn takes a proposal to the nine-member standing committee of the Communist Party's Politburo, headed by President Hu Jintao, 62.

    ``I'm not sure I would interpret this as a victory for him,'' says Lardy, who first met Zhou in 1986, when Zhou worked at the Economic System Reform Research Institute in Beijing. ``This has the aura of a compromise.''

    A larger move might have been hard to sell to some standing committee members, Lardy says. ``These are not Alan Greenspans,'' he says, referring to the U.S. Federal Reserve c
  12. [verwijderd] 29 november 2005 11:34
    Yuan Hits New High After Washington Decides Against Labeling Beijing Currency Manipulator

    SHANGHAI, China (AP) -- The Chinese yuan rose to a new high against the dollar on Tuesday, a day after the Bush administration decided against accusing Beijing of manipulating its currency to gain trade advantages.

    The yuan ended trading at 8.0796 to the dollar Tuesday, its lowest close since China revalued the currency on July 21 to 8.11 yuan to the dollar, up 2.1 percent from its previous, fixed exchange rate. The dollar bought 8.0825 yuan at Monday's close.

    Since July 21, the yuan has risen by just 0.37 percent against the dollar -- far short of the kind of appreciation that U.S. manufacturers would like to see.

    Many American companies contend that China intentionally keeps the value of its currency low to give its exporters an artificial price advantage, contributing to the huge American trade deficit with China, which rose to $162 billion last year. The deficit is expected to hit $200 billion this year.

    But in a report it is required to submit to Congress every half-year, the Bush administration determined Monday that China was not manipulating its currency. Still, it urged Beijing to move quicker in loosening restrictions on trading in the currency.

    Under the new currency regime announced in July, China cut the yuan's peg to the dollar and instead links its value to a basket of currencies. Authorities also allow its value to vary by a maximum of 0.3 percent above or below its opening figure in a single trading day.

    Traders said the dollar's decline against the yuan, or "renminbi," on Tuesday was likely related to its weakness against the yen and euro in other markets. The yuan's previous high close against the dollar was 8.0805, on Nov. 24.

    China's central bank has signaled it expects the yuan's value to rise further against the dollar. But Beijing contends that the country's developing financial system needs time to adjust to a more volatile currency.

    In a report published by the state-run newspaper China Securities Journal on Tuesday the central bank said the exchange rate system is becoming more flexible and "market-oriented," but it reiterated Beijing's insistence on not setting a timetable for allowing the yuan to trade freely.

    "When the renminbi can become convertible depends on the situation of China's economic development and balance of payments," it said. "There's still no clear timetable currently."

    Critics of the Chinese currency regime expressed disappointment over the U.S. government's decision.

    "The administration's lack of action today hurts all Americans by refusing to acknowledge the obvious -- that China manipulates its currency," said Sen. Chuck Schumer, D-N.Y., said Monday.

    Schumer and Sen. Lindsey Graham, R-S.C., are leading sponsors of legislation that would impose 27.5 percent tariffs on all imports from China unless China does more to allow its currency to rise in value against the dollar.

    If the Bush administration had found China was manipulating its currency to gain trade advantages, that finding would have triggered consultations between the two governments.

    The next report on China's currency policies is due to be presented to the U.S. Congress in April.

    Treasury Secretary John Snow noted that Washington took China's July revaluation into account when making its decision on the status of Beijing's currency policies. However, he also urged China to step up the pace of its foreign exchange reforms.

    Meanwhile Tuesday, Japanese Finance Minister Sadakazu Tanigaki also called for faster reforms.

    "Some time has passed since China scrapped its yuan peg to the dollar. My thinking is that China can now operate the new system a little more flexibly," Tanigaki told reporters in Tokyo.
54 Posts
Pagina: «« 1 2 3 | Laatste |Omhoog ↑

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