日韩精品久久一区二区三区_亚洲色图p_亚洲综合在线最大成人_国产中出在线观看_日韩免费_亚洲综合在线一区

Global EditionASIA 中文雙語Fran?ais
Business
Home / Business / Finance

Renminbi to gain clout via stock connect programs

By CHEN JIA | China Daily | Updated: 2021-10-22 09:16
Share
Share - WeChat
Pan Gongsheng, vice-governor of the People's Bank of China and head of the State Administration of Foreign Exchange. [Photo/China Daily]

Multiple funding channels that connect the Chinese mainland and offshore capital markets will further promote the international use of the renminbi, while the exchange rate and cross-border capital flows are expected to remain stable, officials and analysts said on Thursday.

The stock and bond connect programs between the Chinese mainland and Hong Kong are warmly welcomed by international investors and are helpful to further develop an important platform in Hong Kong to offer RMB-denominated assets as well as promote the process of RMB internationalization, according to Hong Kong Financial Secretary Paul Chan Mo-po.

By the end of August, average daily northbound trading utilizing Shanghai-Hong Kong and Shenzhen-Hong Kong stock connect programs reached 120.7 billion yuan ($18.87 billion), up 34 percent compared with the same period in 2020, Chan said at the 2021 Annual Conference of Financial Street Forum on Thursday.

In addition, onshore bonds held by foreign institutions through the northbound trading program have increased to nearly 3.8 trillion yuan, Chan added.

Experts expect increased usage of the RMB in international trade and settlements based on the expanded connect programs that channel more RMB funds into offshore markets.

Ba Shusong, Hong Kong Exchanges and Clearing managing director and chief China economist, said RMB internationalization is still at an early stage.

Further steps could be considered, such as developing RMB-denominated transactions among offshore investors, Ba said.

Pan Gongsheng, vice-governor of the People's Bank of China and head of the State Administration of Foreign Exchange, said on Wednesday that the structure of capital flowing into China has been optimized with steady increases in foreign investment. Long-term foreign investment in the RMB bond market has come to dominate capital inflows.

China has experienced a deleveraging process of foreign debt from 2015 to 2016. And in the earlier period, cross-border capital flows were sensitive to exchange rate floats. At present, the RMB exchange rate shows greater flexibility, supported by resilient economic growth, said Pan at the opening ceremony of the forum.

China's foreign exchange market is expected to be stable despite the effect of the US Federal Reserve monetary policy shift. Cross-border capital will show "two way" flows, in and out, and the RMB exchange rate will remain basically stable with reasonable equilibrium, Pan added.

Pan predicted that during this round of US monetary policy tightening, appreciation of the US dollar will be within a limited range, and the Fed's withdrawal of the last round of quantitative easing is unlikely to hit emerging markets so strongly as the last time after the 2008 global financial crisis.

Top
BACK TO THE TOP
English
Copyright 1995 - . All rights reserved. The content (including but not limited to text, photo, multimedia information, etc) published in this site belongs to China Daily Information Co (CDIC). Without written authorization from CDIC, such content shall not be republished or used in any form. Note: Browsers with 1024*768 or higher resolution are suggested for this site.
License for publishing multimedia online 0108263

Registration Number: 130349
FOLLOW US
CLOSE
 
主站蜘蛛池模板: 日本高清va不卡视频在线观看 | 国产精品久久久久久中文字 | 黄色短视频在线免费观看 | 色香蕉视频 | 亚洲精品播放 | 色偷偷精品视频在线播放放 | 97国产精品人妻无码久久久 | 久草中文在线观看 | 久久黄色大片 | 看免费的毛片 | 日韩精品一区在线 | 天天躁夜夜躁很很躁麻豆 | 国产综合精品 | 亚欧成人中文字幕一区 | 欧美视频99 | 亚洲欧美无人区乱码 | 午夜九九九 | 国产精品视频免费 | 国产乱码精品一区二区三区五月婷 | 久久精品蜜芽亚洲国产a | 国产视频日本 | 一区二区国产在线观看 | 五月天91| 香蕉福利久久福利久久香蕉 | 精品a在线观看 | 国产视频一区二区在线观看 | 夜夜未满 18勿进的爽影院 | 国内自拍一二三四2021 | 亚洲视频在线观看 | 亚洲精品国产偷自在线观看 | 一区二区成人 | 国产免费中文字幕 | 狠狠躁夜夜躁人人爽天天高潮 | 精品成人免费一区二区在线播放 | 日韩一区二区三区精品 | 亚洲精品一区二区三区婷婷月色 | 欧美日韩中文在线观看 | 漂流教室免费观看韩国电影 | 日韩欧美在线视频不卡免费视频 | 久久中文字幕久久久久91 | 操网|