There is no reason to mention India here
Chinese Economics Thread
- Thread starter Norfolk
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There is no reason to mention India here
For those of you worried last week about the huge fall in Hang Seng after 20th Party Congress. When the shorters tried to bankrupt China. It's back up again.
Cue all those videos last week suddenly proclaiming China was about to go bankrupt...............................
For those of you worried last week about the huge fall in Hang Seng after 20th Party Congress. When the shorters tried to bankrupt China. It's back up again.
Cue all those videos last week suddenly proclaiming China was about to go bankrupt...............................
I hope everybody invested where they wanted, made a big bet with BYD and am laughing my asses off from the profit
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George Soros thought is a failed ideology and always will be.
For those of you worried last week about the huge fall in Hang Seng after 20th Party Congress. When the shorters tried to bankrupt China. It's back up again.
Cue all those videos last week suddenly proclaiming China was about to go bankrupt...............................
supercat
Major
One more reason the future trend for RMB is appreciation.
For those of you worried last week about the huge fall in Hang Seng after 20th Party Congress. When the shorters tried to bankrupt China. It's back up again.
Cue all those videos last week suddenly proclaiming China was about to go bankrupt...............................
It's impossible to bankrupt China by shorting the Hang Seng Index, as the HK stock market in the scheme of things is insignificant, smaller than Shanghai's and Shenzhen's in market cap. The short was just a PR event by the US-anglo establishment to try to embarrass Xi.
China to establish yuan clearing arrangements in Pakistan: central bank
By Global Times Published: Nov 03, 2022 02:01 AM
The building of the People's Bank of China in Beijing Photo: VCG
The central banks of China and Pakistan recently signed a memorandum of cooperation (MOC) on establishing yuan clearing arrangements in Pakistan, China's central bank announced on Wednesday.
The establishment of a clearing arrangement for the Chinese currency in Pakistan will help enterprises and financial institutions from the two countries conduct cross-border transactions in yuan and further facilitate bilateral trade and investment, read an announcement from the People's Bank of China (PBC).
The news was released when Pakistani Prime Minister Muhammad Shehbaz Sharif was paying a visit to China. A joint statement was issued on Tuesday, stating that the two sides signed and concluded a number of agreements covering bilateral cooperation in areas such as e-commerce, digital economy, exports of agricultural products, financial cooperation, protection of cultural property, and infrastructure.
Sharif reaffirmed Pakistan's commitment to further strengthen and deepen the China-Pakistan All-weather Strategic Cooperative Partnership and enhance practical cooperation in all areas, according to the statement.
Prior to the yuan clearing arrangement, the PBC inked a 10-billion-yuan ($1.58 billion) currency swap deal with the State Bank of Pakistan, the Pakistani central bank, in December 2011, which was also aimed at promoting bilateral financial cooperation and boosting trade and investment.
The latest announcement about the yuan clearing arrangement came just 10 days after the PBC said that to establish yuan clearing arrangements.
In recent years, China's central bank has continuously strengthened cooperation with central banks of other countries and regions, and actively promoted cooperation in overseas yuan business, such as currency swaps, overseas settlement and cross-border payment in digital currencies.
China's central bank had authorized 27 overseas yuan clearing banks in 25 countries and regions by the end of 2021.
The PBC also signed bilateral currency swap agreements with central banks or monetary authorities of 40 countries and regions worth a total of more than 4.02 trillion yuan by 2021.
Isnt 1 week a small sample size?