Mon, Mar 19, 2018
Welcome Guest
Free Trial RSS
Get FREE trial access to our award winning publications
Alternative Market Briefing

The Big Picture: As growth is slowing down, China may internationalise RMB soon

Friday, September 14, 2012

Chinese Premier Wen
An Opalesque column for macro investors.

Benedicte Gravrand, Opalesque Geneva:

Chinese Premier Wen said in a speech on China’s economy in Davos this week: "Although growth is slowing down, it is more stable. We will give greater priority to stabilising and maintaining the continuity and stability of our policies." According to, Wen also rebutted the view that China's growth has come to an end after 30 years of reforms and opening-up, arguing that the country voluntarily lowered its economic growth target to stabilize the growth and adjust the economic structures.

Chong How Ong, the Singapore-based portfolio manager of Reech AiM, an asset management group, thinks the new Chinese leadership under Xi JinPing (the man in line to be China’s next president) would be daunting if the country was to continue to double the GDP in a decade, though not impossible if Renminbi (RMB) internationalises.

When China cut its interest rate by 25 bps in June – a first since Dec’08 – the markets rallied at the surprise. The country allowed a 10% deviation on the deposit rate and a 20% deviation on the lending rate versus the official benchmark rate, and this watershed development signalled a move towards a more flexible......................

To view our full article Click here

Today's Exclusives Today's Other Voices More Exclusives
Previous Opalesque Exclusives                                  
More Other Voices
Previous Other Voices                                               
Access Alternative Market Briefing


  • Top Forwarded
  • Top Tracked
  • Top Searched
  1. John Paulson, once the industry's largest hedge fund, to return some investors' money[more]

    Komfie Manalo, Opalesque Asia: John Paulson is reported to be retuning some of his investors' money as a number of his hedge funds continue to suffer setbacks, reports

  2. Investing - Hedge funds amass big bets against world's leading advertisers, Investor Elliott Management buys tiny stake in Wipro[more]

    Hedge funds amass big bets against world's leading advertisers From Hedge funds have amassed bearish bets of more than $3bn against the world's largest advertising companies in an attempt to profit as the industry undergoes ongoing wrenching disruption and slowing growth. Funds i

  3. News Briefs - Investcorp to launch a $100 million PE fund for Omani pension funds[more]

    Bahrain-based investment firm Investcorp will soon launch a $100 million fund dedicated to Oman's Pension Funds as part of its investment plan. 'The Opportunities Fund' will be focused on private equity investments in the U.S. and Europe and will target mid-sized companies across a broad range of se

  4. DoubleLine's Gundlach sees U.S. 10-year Treasury yield rising, weighing on stocks[more]

    From Reuters/ Jeffrey Gundlach, the chief executive of DoubleLine Capital and known on Wall Street as the "Bond King," said on Tuesday the yield on the U.S. 10-year Treasury note will likely move higher and pressure riskier assets including equities and junk bonds. Gundlach, on an

  5. SEC charges Theranos CEO Holmes with fraud[more]

    Bailey McCann, Opalesque New York: The SEC has charged Elizabeth Holmes, founder and CEO of Theranos and its former President Ramesh "Sunny" Balwani with raising more than $700 million from investors through an elaborate, years-long fraud in which they exaggerated or made false statements about t