THE PEOPLE’S BANK OF CHINA (PBC) released a paper saying that even if clean floating of the exchange rate and full international coordination of the monetary policy are realized, we still need macro-prudent management of capital flows. If the flexibility of exchange rate is relatively low, it is even more difficult to restrain the flow of capital, so the flexibility of exchange rate need to be improved. Currently, the difficulty of the international coordination of monetary policy is reduced and the operability is enhanced.
ECONOMIC INFORMATION DAILY news, after the State-owned Assets Supervision and Administration Commission of the State Council (SASAC) introduced the negative list of State-owned Key Enterprises’ domestic and abroad investment, many provinces and cities including Jiangsu, Zhejiang, Shenzhen and Chongqing have started to develop relevant detailed rules. According to the characteristics of local state-owned assets, they established the "power List" and the "negative list" of state-owned asset supervision and management, introduced special accountability approaches of investment management and asset loss, strictly preventing the loss of state-owned assets.
21st Century Business Herald news, after the Spring Festival in 2017, another round of regulatory policy was introduced intensively. As of March 29th, 2017, there were cumulative 32 cities that introduced regulation policy. At present, cities that have introduced regulation policies mainly located in areas like the Bohai rim, the middle reaches of Yangtze River and the Yangtze River Delta economic circle. This time’s basic policy is mainly purchase and loan restrictions. In addition to Beijing, the most stringent policy mainly came from second-tier cities, which have been in line with the first-tier cities.
ECONOMIC INFORMATION DAILY news, with THE PEOPLE’S BANK OF CHINA (PBC)'s issuance of digital currency and the mature of its application technology in the future, the possibility of digital currency to replace cash is greatly increased. It triggered the impact on the financial system and modern credit economy, which is need for in-depth study and exploration. But in any case, digital currency and its concept should not and can not become tools for speculation in the market and the hiding of illegal trading.
Society for Worldwide Interbank Financial Telecommunications (SWIFT) released data showing that in February, global currency payments fell by 5.21% sequentially, of which the RMB global payment increased by 4.1% sequentially. In February, according to SWIFT, RMB accounted for 1.84% in global payments, slightly higher than the 1.68% in January, ranking the sixth globally for three consecutive months.
The president of the Asset Management Association of China (AMAC), Hong Lei, said that all kinds of asset management business must put an end to the business of fund pool, put an end to "minimum-guarantee and income-guarantee", strictly guard the bottom line of having no "rigid redemption", return to the trust financing nature of "sellers being responsible" and "buyers being conceited". The asset management industry represented by the public offering fund requires a comprehensive supply-side reform that truly assumes responsibility for providing inclusive finance and promoting industrial innovation.
Xinhua News Agency reported, there are the latest news about the acquisition of the world's leading information technology consulting, media, exhibition and venture capital firm US International Data Group (IDG) by the Chinese consortium, the full acquisition has been completed. The industry insiders pointed out that, seeing from the financial point of view, it is a very good investment for the Chinese consortium to have comprehensive acquisition of IDG.
Deputy Secretary-General of China Iron and Steel Association, Li Xinchuang, said that China will be the largest steel producer in the next 100 years, the profit margins of Chinese steel enterprises are still low, the global steel overcapacity can not be attributed to China. Global iron ore supply is expected to be 1.52 billion tons this year, it was 1.026 billion tons last year.
Xinhua News Agency reported, spokesman of MINISTRY OF NATIONAL DEFENCE OF THE PEOPLE’S REPUBLIC OF CHINA, Wu Qian, confirmed that China's first home-built aircraft carrier is outfitting, the work progress is very smooth.
State Power Investment Corporation (SPIC) said that Westinghouse Group applying for bankruptcy reorganization will not have a substantial impact on China's autonomy work of three generations of nuclear power, which are the construction of AP1000 supporting projects, follow-up CAP1000 batch construction and CAP1400 demonstration project construction.
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