PBOC's Ramped-up Efforts to Defend Yuan May Have Limited Impact -- Market Talk

WSJJan 13 13:46

Pan Gongsheng: Support the development of Hong Kong's Capital Markets and support the Hong Kong Monetary Authority in launching the RMB trade financing liquidity arrangement.

Pan Gongsheng stated the intention to support more quality enterprises to list and issue bonds in Hong Kong, continuously optimize and expand the connectivity between the mainland and Hong Kong in the fields of Stocks, Bonds, wealth management, and interest rate swaps, deepen the financial cooperation of the South China Greater Bay Area Concept, and increase the proportion of the national Forex reserves' asset allocation in Hong Kong, thereby opening up broader space for Hong Kong's financial development.

wallstreetcnJan 13 12:43

Express News | Pan Gongsheng: Increase the proportion of the national Forex reserves allocated to Assets in Hong Kong.

BreakingsJan 13 11:39

Chinese Exports Finished Strong in 2024

Dow JonesJan 13 11:26

Stabilizing the Exchange Rates, the central bank continues to take action.

The People's Bank of China and the State Administration of Foreign Exchange have decided to raise the macro-prudential regulatory parameters for cross-border financing of enterprises and Financial Institutions from 1.5 to 1.75, effective January 13, 2025. By raising the "macro-prudential regulatory parameters," the upper limit for cross-border financing of enterprises and Financial Institutions can be increased, encouraging enterprises to increase cross-border financing, leading to an increase in the inflow of cross-border capital and thus increasing the supply of foreign currencies, which in turn helps curb the rapid depreciation of the Renminbi Exchange Rates from a supply and demand perspective.

wallstreetcnJan 13 10:54

Offshore RMB rises! The central bank and the Forex bureau take action to stabilize Exchange Rates! After nearly 18 months, this important parameter is adjusted again.

The central bank and the Forex bureau have taken action to stabilize Exchange Rates. On January 13, to further improve the macro-prudential management of comprehensive cross-border financing, continue to increase the sources of KUAJINGZIJIN for enterprises and Financial Institutions, and guide them to optimize their Assets and liabilities structure, the People's Bank of China (hereinafter referred to as "the central bank") and the State Administration of Foreign Exchange (hereinafter referred to as "the Forex bureau") decided to raise the macro-prudential adjustment parameters for the cross-border financing of enterprises and Financial Institutions from 1.5 to 1.75, effective January 13, 2025. This adjustment is the result of the central bank and the Forex bureau adjusting the parameters for cross-border financing macro-prudential management again nearly 18 months after the previous adjustment on July 20, 2023.

Securities TimesJan 13 10:51