RSSNewsletterSiteMapFeedback

Home · Weather · Forum · Learning Chinese · Jobs · Shopping
Search This Site
China | International | Business | Government | Environment | Olympics/Sports | Travel/Living in China | Culture/Entertainment | Books & Magazines | Health
Home / Business / Finance Tools: Save | Print | E-mail | Most Read | Comment
China Begins Yuan Swaps Trading
Adjust font size:  ZoomIn ZoomOut

China yesterday began yuan swaps trading on the interbank foreign exchange market against the US dollar, euro, yen, British pound and Hong Kong dollar, the central bank announced on its website.

 

The new move will enrich the interbank foreign exchange market and satisfy domestic firms' demand for more products to hedge against currency risks, the People's Bank of China said.

 

A currency swap is an exchange through a lender by two borrowers with opposing currency needs.

 

Forwards and swaps are the only two products in China's yuan derivatives market, and yuan swaps trading is conducted only between financial institutions and companies.

 

Banks that are qualified to trade yuan forwards in the interbank market will be allowed to engage in swaps trading after they register with the State Administration of Foreign Exchange, according to the statement.

 

Chinese companies need more derivatives products to help guard against exchange-rate risk.

 

"This is a belated move, as it will enrich the structure of China's capital market and expand the available instruments," said Yan Qifa, an economist with the Export-Import Bank of China.

 

As the number of market players increases, the swaps trading will play a better role in discovering the prices of the currencies, Yan said. "And this provides an alternative for enterprises to reduce financing costs."

 

The interest rates used as references for yuan swaps should be from the benchmark market rate announced by China's interbank lending market or the central bank's benchmark lending and borrowing rates, according to the new rules.

 

China needs to allow more players, such as the non-financial institutions, into the market in the future to further improve the market structure, Yan suggested.

 

(China Daily August 21, 2007)

 

Tools: Save | Print | E-mail | Most Read

Comment
Username   Password   Anonymous
 
China Archives
Related >>
Most Viewed >>
-Commercial banks allowed to access futures market
-WB cuts China's 2008 GDP growth to 9.6%
-Economic policy needs 'rethink'
-Coal reserves at China power plants up
-Macao's gaming market expands further

May 15-17, Shanghai Women's Forum Asia
Dec. 12-13 Beijing China-US Strategic Economic Dialogue
Nov. 27-28 Beijing China-EU Summit

- Output of Major Industrial Products
- Investment by Various Sectors
- Foreign Direct Investment by Country or Region
- National Price Index
- Value of Major Commodity Import
- Money Supply
- Exchange Rate and Foreign Exchange Reserve
- What does the China-Pakistan Free Trade Agreement cover?
- How to Set up a Foreign Capital Enterprise in China?
- How Does the VAT Works in China?
- How Much RMB or Foreign Currency Can Be Physically Carried Out of or Into China?
- What Is the Electrical Fitting in China?
SiteMap | About Us | RSS | Newsletter | Feedback

Copyright ? China.org.cn. All Rights Reserved E-mail: webmaster@china.org.cn Tel: 86-10-88828000 京ICP證 040089號

主站蜘蛛池模板: 日本精品久久久久护士| 玉蒲团之偷情宝典| 国产无遮挡又黄又爽在线视频| avtt天堂网手机版亚洲| 成人A级视频在线播放| 久久久久国产精品免费看| 最近免费中文字幕中文高清| 亚洲无线一二三四区| 浪潮AV色综合久久天堂| 免费人成年轻人电影| 精品无人乱码一区二区三区| 国产一在线精品一区在线观看 | 中文字幕丰满伦子无码| 日本伊人色综合网| 久久精品国产亚洲av麻豆色欲| 欧美人与性禽xxxx| 亚洲成人网在线观看| 残虐极限扩宫俱乐部| 亚洲色图黄色小说| 熟妇人妻不卡中文字幕| 免费中韩高清无专码区2021| 精品久久人人做人人爽综合| 午夜爽爽爽男女污污污网站| 美女网站在线观看视频免费的| 国产三级在线观看完整版| 里番acg里番龙| 国产亚洲欧美日韩精品一区二区| 麻豆视频免费观看| 国产性生活大片| 黄色福利视频网站| 国产性夜夜夜春夜夜爽| 黄色a级片免费看| 国产女人乱人伦精品一区二区| 97国产在线播放| 国产成人AV一区二区三区无码| 黑人操日本美女| 国产小视频在线观看网站| 成人免费观看一区二区| 国产成人精品一区二三区| 国产精品27页| 国产女人的高潮大叫毛片|