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Topic: Renminbi

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	Renminbi - Wikipedia, the free encyclopedia
		The renminbi was first issued shortly before the takeover of the mainland by the Communists in 1949.
		The base unit of the renminbi is the yuan.
		The first series of Renminbi banknotes was introduced during the Chinese Civil War by the newly-founded People's Bank of China on December 1, 1948, nearly one year before the founding of the People's Republic of China itself.
	en.wikipedia.org /wiki/Renminbi (2483 words)

	Renminbi - Wikipedia, the free encyclopedia
		One of the first tasks of the new communist government was to end the hyperinflation that had plagued China near the end of the KMT era.
		However, partly in response to the Asian Financial Crisis of 1998, the PRC has been concerned that the Chinese financial system would not be able to handle the potential rapid cross border movements of hot money, and as a result, as of 2003, full convertibility remains a distant goal.
		This policy was praised during the Asian Financial Crisis of 1998 as it prevented a round of competitive devaluations.
	www.encyclopedia-online.info /RMB (842 words)

	Renminbi - Wicipedia
		Y renminbi (Tsieinëeg traddodiadol: 人民幣, Tsieinëeg wedi symleiddio: 人民币, yn golygu "arian y bobl") yw arian swyddogol Gweriniaeth Pobl Tsieina.
		Mae'r Renminbi wedi ei rannu i dri uned sylfaenol sef yr yuan, jiao a fen ac iddynt werth cymharol 1/1, 1/10 a 1/100 yn ôl eu trefn.
		Ar yr un pryd cyhoeddodd Banc Pobl Tseina y byddent yn sefydlog gwerth cyfnewid y renminbi yn erbyn basged o arian breiniol nifer o wledydd ac y byddai'r renminbi yn cael ei gyfnewid hyd at derfyn gwahaniaeth o 0.3% yn erbyn y fasged arian breiniol.
	cy.wikipedia.org /wiki/Renminbi (620 words)

	Appreciation of Renminbi (tdctrade.com)
		I understand that there are levels in the exchange rate of the renminbi that the market is particularly sensitive about - for example, if the renminbi strengthens to beyond 8 against the US dollar and even more so if it strengthens further to 7.80.
		One should also note that, as long as the renminbi is not a freely convertible currency, the authorities are quite capable of steering the path for the exchange rate, and therefore the views of State leaders that there would not be unexpected step changes in the exchange rate are highly credible.
		In other words, the psychological levels of the renminbi exchange rate are merely psychological; they do not indicate any increase in the probability of change in the exchange rate policy of Hong Kong.
	www.tdctrade.com /econforum/hkma/hkma060501.htm (805 words)

	Renminbi - Facts, Information, and Encyclopedia Reference article
		The renminbi (Simplified Chinese: 人民币; Traditional Chinese: 人民幣; pinyin: rénmínbì; literally "people's currency") is the official currency in the mainland of the People's Republic of China.
		The People's Bank of China also announced that the renminbi would be pegged to a basket of foreign currencies, rather than being strictly tied to the U.S. dollar, and would trade within a narrow 0.3 percent band against this basket of currencies.
		The largest denomination of the renminbi is the 100 yuan note.
	www.startsurfing.com /encyclopedia/r/e/n/Renminbi.html (1658 words)

	Op-ed: A New Way to Deal with the Renminbi
		Renminbi undervaluation has contributed to growing trade surpluses and, in some years, to huge portfolio capital inflows.
		Also, the degree of renminbi undervaluation is now so large and Beijing’s commitment to an incremental approach so entrenched that eliminating the undervaluation in one hit no longer seems feasible.
		This would still require sizeable real appreciation of the renminbi later, with all the problems that such a phased adjustment entails.
	www.iie.com /publications/opeds/oped.cfm?ResearchID=595 (695 words)

	The Effects of a Renminbi Devaluation on ASEAN Economies: An Applied General Equilibrium Approach, by Robert R. Teh Jr.
		To the extent that a devaluation of the renminbi serves as a proxy for the trade rivalry between ASEAN and China, the outcome of the simulation should provide some answers to the state of the economic relationship between them.
		To the extent that a renminbi devaluation is seen as a commercial response to deteriorating export performance, then the framework of the analysis conducted here is probably appropriate for the purpose on hand.
		As part of a larger package of reform measures, a renminbi devaluation could re-energise foreign investor interest in China and produce dramatic increases in economic efficiency and long-term export competitiveness that we would be unable to capture in the simulations conducted with the GTAP model.
	www.aseansec.org /2826.htm (5267 words)

	Chinese residents' Renminbi bank deposits exceed 10 trillion yuan (10/16/03)
		The total Renminbi bank deposits of Chinese residents had reached 10 trillion yuan (1.2 trillion US dollars) for the first time by the end of September, China's central bank said on Oct.16.
		Renminbi loans also saw a sharp increase in the first three quarters, reaching 15.6 trillion yuan (1.89 trillion US dollars), a year-on-year increase of 23.5 percent.
		By the end of September, the forex reserve reached 383.9 billion US dollars, up 48.4 percent and the market exchange rate for Renminbi to US dollars was 8.2770, almost at the same level as the end of last year.
	www.china-embassy.org /eng/jjmy/b/t36308.htm (299 words)

	Renminbi µØ®L¬u³f·J¦Ò
		But the denominations of the Old Renminbi were too big for people's daily life, The People's Bank of China issued New Renminbi at the rate of $1 to $10000 of Old Renminbi on 1st March 1955.
		The New Renminbi valued at 1 Fen, 2 Fen, 5 Fen, 1 Jiao, 2 Jiao, 5 Jiao, 1 Yuan, 2 Yuan, 3 Yuan, 5 Yuan and 10 Yuan.
		On the other hand, a devaluation in the Renminbi may be led to a further slide in Asian currencies and influence the exports of Hong Kong to United States and Europe.
	ykleungt.tripod.com /rmbnote1.htm (433 words)

	Selected Reforms on China's Agenda
		Total government expenditures for the year were put at 896.7 billion renminbi, up 13 percent from last year, against revenues of 839.7 billion renminbi, up 14 percent.
		The deficit will be met by the issuing of a record 248.6 billion renminbi in domestic and foreign bonds this year, up from 196.7 billion last year.
		Inflation is expected to be less than 6 percent this year, despite 32 percent growth in fixed asset investments, to 2.53 trillion renminbi, down from 34.6 percent growth in 1996.
	www.worldbank.org /html/prddr/trans/apr97/pg4box.htm (747 words)

	Risk magazine - China opens up renminbi swaps market
		On July 21, the PBOC announced a 2.1% strengthening of the renminbi against the dollar, and declared the currency would move to a managed float linked to a basket of currencies.
		Once a bank has traded renminbi forwards for six months, it will be allowed to offer cross-currency swaps — the first time these instruments have been allowed in China.
		In particular, dealers say there is uncertainty about how a dealer would settle a renminbi swap transaction if the corporate does not hold a renminbi account with the bank.
	www.risk.net /public/showPage.html?page=risk_story_NewAngles_25 (968 words)

	The Epoch Times \| Why the Chinese Renminbi is Laying Low
		The Chinese government clearly knows that their national wealth, as represented by the renminbi, is decreasing rather than increasing.
		Their demands are based on the false myth of “Chinese high economic growth” as publicized by China.
		The actual wealth represented by each unit of renminbi is much lower than its face value.
	www.theepochtimes.com /news/5-6-1/29101.html (718 words)

	Renminbi : iSOUND.COM
		Her first objective was to find a drummer who could mesh well with her complicated sense of rhythm and work around her unusual song structures.
		Initially performing only raw instrumentals, Renminbi decided it was missing something and called in soundscape-obsessed SMV to fill out some of the tunes with keyboard and vocals.
		Renminbi released two EPs, one in 2003 and another in 2004.
	www.isound.com /renminbi (558 words)

	AEI - Short Publications
		If China pegs the renminbi to a basket of currencies (given about an 11-percent trade weight for the U.S. dollar), it could allow a 10-percent renminbi appreciation or depreciation versus the dollar with only a 1.1-percent implied movement of the weighted exchange rate.
		The renminbi would also appreciate or depreciate versus other currencies whose value remained pegged to the dollar, and an offset would require a modest renminbi depreciation against non-dollar currencies.
		This would amount to incipient pressure for a renminbi devaluation that could come at an inconvenient time when global growth is slowing due to a Fed-induced growth slowdown in the United States.
	www.aei.org /publications/pubID.20586/pub_detail.asp (2631 words)

	Renminbi Press Page
		Renminbi is an all-female band with three members.
		The People's EP,' but the third woman of Renminbi, SMV, contributes intriguing vocals on two tracks and plays keyboard on another.
		Renminbi is lo-fi yet expansive, hard-rocking yet obsessed with mood and texture, economical yet rich in emotional and rhythmic detail.
	www.renminbinyc.com /press.htm (829 words)

	Zhou rules out move to revalue renminbi (ouch!) - Gold & Silver Forum
		China has been under pressure to revalue the renminbi fixed to the US dollar for a decade from Washington and Brussels, which say it gives Chinese exporters an unfair advantage.
		Many Chinese academics and officials are also pressing for a more flexible exchange rate, mainly because they believe the peg deprives the government of an independent monetary policy.
		I think a country pegging their currency to another country is in itself a hostile trade act.
	goldismoney.info /forums/showthread.php?t=19751 (848 words)

	A Look at China's New Exchange Rate Regime (2005-23, 9/9/2005)
		The following day, the renminbi exchange rate will be allowed to fluctuate against the dollar within a band of plus or minus 0.3% around the announced central parity.
		The apparent market anticipation of additional appreciation of the renminbi prompted the PBOC to issue a series of clarifications stating that the initial revaluation did not imply further action.
		As such, the movements in the currency index would not necessarily be representative of the desired path for the renminbi under China's new exchange rate regime, even if the country weights assigned to the index were appropriate.
	www.frbsf.org /publications/economics/letter/2005/el2005-23.html (1346 words)

	[No title]
		Most of the chatter is coming from politicians catering to the vested interests of powerful constituents with big stakes in the manufacturing sector of our economy, ranging from executives of textile companies in the south to labor union leaders in Chicago.
		Their common beef: the undervaluation of the renminbi has led to a $100 billion a year trade deficit with China which translates into huge jobs losses by U.S. manufacturers unable to compete with cheap Chinese goods.
		There is also the real possibility that a massive revaluation of the renminbi could lead to serious deflation in China -- it is already just on the edge of it -- which could seriously undermine an already fragile Chinese banking system and kill off growth in what is today the world's most dynamic economy.
	www.marketwatch.com /News/Story/Story.aspx?guid={281EBFC3-A253-4918-86F0-9C7004C619EB}&siteid=mktw&dist=nwtpm (971 words)

	Readings in Renminbi (RMB) Misalignment
		John Williamson, IIE, "The Renminbi Exchange Rate and the Global Monetary System," Outline of a lecture delivered at the Central University of Finance and Economics, Beijing, China (October, 29, 2003).
		Yin-Wong Cheung, Menzie Chinn and Eiji Fujii, "Why the RMB might be overvalued (but probably isn't)," paper presented at the SF Fed conference on "External Imbalances and Adjustment in the Pacific Basin" (September 22-23, 2005).
		Jeffrey Frankel, "On the Renminbi: The choice between adjustment under a fixed exchange rate and adjustment under a flexible rate," NBER WP 11274.
	www.ssc.wisc.edu /~mchinn/RMB.html (843 words)

	Why China won't devalue - Forbes.com
		With a country with a pegged exchange rate (the renminbi is pegged to the dollar), the best way to judge international economic performance is with balance-of-payments statistics.
		Indeed, competitiveness (measured by the renminbi's effective real exchange rate, which is the weighted average of the bilateral renminbi rates adjusted for inflation differentials between China and its trading partners) has fallen by only 1% since the beginning of 1997.
		The devaluation of the renminbi is not imminent, and it does not pose a threat to other Asian currencies and stock markets.
	www.forbes.com /columnists/global/1999/0920/0218068a.html (878 words)

	Financial Times Business News: Chicago's renminbi futures gambit - MSN Money
		The general market view is that Beijing will gradually ease its currency controls over the coming years and that the renminbi is likely to appreciate against the US dollar, since it is widely thought to be undervalued.
		CME renminbi futures contracts, together with renminbi/euro futures contracts, renminbi/yen futures contracts and options on these futures, began trading on CME's electronic trading platform on Sunday.
		Participants in the new market are expected to include importers, exporters, manufacturers and managed funds with exposure to renminbi foreign exchange risk.
	news.moneycentral.msn.com /provider/providerarticle.asp?feed=FT&Date=20060830&ID=5980455 (456 words)

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