Sat, Jan 31, 2015
A A A
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

amb
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 Xinhuanet.com, 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. Opalesque Exclusive: Ex-Citi trader launches 'sleep-at-night’ long/short equity fund[more]

    Benedicte Gravrand, Opalesque Geneva for New Managers: After working at Citi's proprietary trading desk, managing a large portfolio between 2008 and 2011, Joel S. Salomon founded SalaurMor Management in New Yor

  2. Investing - U.S. investors favor currency hedged Europe ETFs as euro tumbles, Quants win back investors as Swiss franc fuels volatility gains, David Einhorn's $7bn hedge fund is loading up on this stock, Hedge fund BlueMountain Capital unveils Ocwen Financial short, claims default on notes[more]

    U.S. investors favor currency hedged Europe ETFs as euro tumbles From Reuters.com: U.S. investors stung by the falling euro who want to stay invested in Europe are turning to exchange-traded funds designed to strip out the impact of the region's currency. The biggest among so-called "cur

  3. News Briefs - Millennials use tech tools to jump into investing, Winklevoss twins to launch bitcoin exchange with FDIC insured deposits, Robertson’s legacy from hedge funds to New Zealand, Real estate managers exploring smaller open-end funds[more]

    Millennials use tech tools to jump into investing It is the Facebookification of monetary investing. From social networking platforms that enable young investors to stick to every other's stock-picking mojo, to internet sites for initially-timers hungry for a piece of the Silicon Valley

  4. Update: Prosecutors seek 12 years for hedge fund manager Francisco Illarramendi[more]

    Komfie Manalo, Opalesque Asia: Federal prosecutors have asked the court to sentence convicted hedge fund manager Francisco Illarramendi to 12 years imprisonment for running an elaborate Ponzi scheme that bilked investors hundreds of millions in dollars, including a Venezuelan pension fund, report

  5. Institutions - Ontario pension fund leader calls all asset classes ‘expensive’, Taiwan's BLF plans $2bn in alternative mandates[more]

    Ontario pension fund leader calls all asset classes ‘expensive’ From WSJ.com: The head of one of the world’s largest pension funds said that across asset classes, “everything is expensive.” Ron Mock, who leads Canada’s $141 billion Ontario Teachers’ Pension Plan, said that the plan would