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PBOC Continues Gold Purchases for 21st Consecutive Month
Data from the People's Bank of China (PBOC) show that China's gold reserves reached 76.08 million ounces at the end of July, up from 75.44 million ounces at the end of June. This marks the 21st consec
Two-Way Fluctuations, Steady Gains: RMB Resilience Stands Out
On August 4, both the onshore and offshore renminbi (RMB) rose modestly against the U.S. dollar. Over a longer horizon, the RMB recorded noticeable gains versus the dollar in July, with the exchange r
CSRC Announces Five Major Cooperation Initiatives to Upgrade Two-Way Market Opening
On August 3, Wu Qing, Chairman of the China Securities Regulatory Commission (CSRC), stated at the launch ceremony for RMB treasury bond futures in Hong Kong that further policy measures will be intro
PBOC Holds 2026 H2 Work Meeting: Continue Implementing Appropriately Accommodative Monetary Policy
On August 1, the People's Bank of China (PBOC) held its 2026 second-half work meeting. The conference, guided by Xi Jinping Thought on Socialism with Chinese Characteristics for a New Era and the deci
Hong Kong RMB Clearing Volume Hits Record 53.2 Trillion Yuan as Offshore Market Capabilities Expand Rapidly
Hong Kong's offshore RMB market is undergoing significant transformation. Data shows that Hong Kong's RMB clearing volume surged to a record 53.2 trillion yuan in June, surpassing both HKD and USD set
Onshore RMB Closes at 6.7674 Against USD, Up 70 Pips from Previous Session
The onshore renminbi (CNY) closed at 6.7674 against the U.S. dollar on Monday, gaining 70 basis points from the previous trading session.
Unraveling the Mystery of High-Yield USD Deposits: Exchange Losses May Be Eating Up Interest Gains
"Our bank currently has a USD deposit rate promotion," said a staff member at a branch of Industrial Bank in Beijing's Xicheng District. "For new deposits exceeding 8,000 USD, the 1-year deposit rate
US Treasury Report Declares Yen 'Severely Undervalued' as Markets Bet on Continued Depreciation
The US Treasury Department released its semiannual foreign exchange report on Thursday in Washington, warning about the continued weakness of the Japanese yen. According to Treasury data cited in the
Experts Debate RMB Exchange Rate Trends and Export Sustainability Amid K-Shaped Recovery
Recently, the CMF Macroeconomic Monthly Data Analysis Conference, jointly hosted by the National Academy of Development and Strategy at Renmin University of China, the School of Economics at Renmin Un
China's Foreign Exchange Reserves Reach $3.4163 Trillion at End-June; FX Market Shows Strong Vitality and Resilience
“In the first half of the year, China's foreign exchange market operated smoothly, with active and more resilient transactions,” said Li Bin, Deputy Director of the State Administration of Foreign Exc