China’s $1.7 trillion hangover

China’s $1.7 trillion hangover

Up to 40% of China’s $1.7 trillion LGFV loans are at high risk of default. What’s a panicking Beijing to do?

The money network:

The money network:

Why crowdfunding threatens traditional bank lending

  • Join us
Skip Navigation LinksHome :: Back Issues :: China: PBOC moves into FX swaps

January 2006

China: PBOC moves into FX swaps

In an historic move in late November, the People’s Bank of China, the country’s central bank, conducted the first ever swap of renminbi with the US dollar, a move that it intends to repeat fortnightly.


The initial swap involved 10 domestic banks buying $6 billion from the PBOC in exchange for renminbi at the prevailing spot rate, with the agreement to swap the dollars back in 12 months’ time at an agreed rate of Rmb7.85 to the dollar. That compared...


You must be a trialist or subscriber to view this content

Please Subscribe or take a Free Trial below.
Already a subscriber? Log in here.





Download the Free Euromoney iPad app today

  1. FX survey 2012: Overall results

  2. Euromoney’s 2012 FX survey results

  3. Inside JPMorgan's $2 billion loss-making CIO division

  4. The money network: Why crowdfunding threatens traditional bank lending

  5. Reality bites: The truth about investment banking in Asia


Home |  Mobile site |  Contact Us |  Subscribe |  Capital markets |  FX/Treasury |  Investment |  Regions & Emerging markets |  Surveys and awards |  Back issues |  Euromoney store |  Useful links & Related events |  Site Map |  Cookies |  Do more with Euromoney | 

RSS Feed  |  Change font size:   

The material on this site is for financial institutions, professional investors and their professional advisers. It is for information only. Please read our Terms and Conditions, Privacy Policy before using the site.

All material subject to strictly enforced copyright laws. © 2012 Euromoney Institutional Investor PLC.