Whole Asia is being stared at look, whether can be exchange rate of dollar add RMB defeated 7? The C

Since this year, beautiful couplet store add 3 times continuously breath, the dollar goes strong ceaselessly, except the whole world outside yen main money had to the dollar relatively substantially devalue. The RMB is not exceptional also, be opposite since this year the dollar is the biggest devalue more than 7% .

The near future, the dollar goes strong further, dollar index is broken through successfully 97 close greatly, achieve since June 30, 2017 new tall. Meanwhile, exchange rate of RMB of dollar add off shore is defeated repeatedly 6.97, 6.98 col, continue to close greatly to this 7 integer approach. Whole Asia money market is being stared at see dollar add RMB whether can break through this one 7 keys to nod, also paying close attention to the tendercy of Chinese Central Bank closely at the same time. On September 20, chinese people bank and management board of Hong Kong banking were signed " the cooperative memorandum book that about using debt tool system of the settle accounts central publishs Chinese people bank paper " , both sides issues bill to reach in Hong Kong with respect to Chinese Central Bank consistent. Recently, as RMB exchange rate go low quickly, the be born speed of this one significant move is accelerated apparently.

On October 31, management board of Hong Kong banking (bureau of canal of gold of the following abbreviation) press release is issued in government-owned net, announce Chinese Central Bank will be in Hong Kong formally to issue note. The announcement of invite public bidding that Chinese people bank issues and constitution of invite public bidding mention expressly, the Central Bank will issue note of 20 billion yuan of RMB formally at was in Hong Kong on November 9, among them 3 lunar period 10 billion yuan, a year period 10 billion yuan. The Central Bank issues note in Hong Kong, rich Hong Kong short term, Gao Xin uses product of grade RMB banking, perfect curve of yield of bond of Hong Kong RMB. In the meantime, because Hong Kong is center of the largest off shore RMB, the Central Bank issues the dimensions of bill and rhythm in Hong Kong through control, can at any time the RMB of market of steam again off shore, move section fluidity neatly, stabilize exchange rate of off shore RMB then.

Above all, issueing Central Bank note is a kind commercialize a method publicly, obtain international society easily to approbate. The Central Bank issues RMB note with means of invite public bidding in Hong Kong, can run level of interest rate of RMB of off shore market directly, have the effect of exchange rate of people of stable off shore secondhand then. Say so, the Central Bank issues note in Hong Kong, it is tool of policy of an interest rate not only, also be a tool of very good exchange rate government. Although administrative exchange rate belongs to one country dominion category, but operate exchange rate is WTO however (World Trade Organization) with IMF (international Monetary Fund) prohibit clearly. Before this, international society often criticizes policy of our country exchange rate opaque. Because issue Central Bank note,be undertake publicly in order to commercialize means, the operation is completely transparent, approbate what achieve international society easily.

Next, it is OK to issue Central Bank note normalization undertakes, the step is convenient, quick. Arrived 2004 in 10 years of time 2013, chinese people bank issued Central Bank note inside 701 times in all, average and annual issue more than 70 times, every time little a first phase, many 3 period. This, it is first time of Chinese Central Bank issues note in Hong Kong. After this second success is issued, central Bank follow-up can choose opportunity, dimensions to undertake normalizing emission independently, very convenient, agile.

The 3rd, issue Central Bank note, need not use drain foreign exchange reserve.

A few years before, to carry the weight of custom-built empty RMB, stabilize RMB exchange rate, the country drained many foreign exchange reserve. And Central Bank note is issued in Hong Kong, disbursement interest also is a RMB, do not need to employ national foreign exchange reserve.

The 4th, central Bank note is issued in Hong Kong, be helpful for RMB internationalization.

The note that the Central Bank issues in Hong Kong, be a year period the product of banking of RMB of grade of short-term, high honor that reachs less than. The Ministry of finance since 2009, issue every year in Hong Kong in long-term RMB national debt. Both additional advantage, more than it is the product of banking of RMB of high honor grade that makes Hong Kong short-term, metaphase, long-term all ready, also be helpful for industry of Hong Kong banking can innovating on this foundation more RMBs the develop produce such as period authority, futures, make international investor has more tool to run risk of the interest rate of the RMB, exchange rate, thereby more install RMB of hold of a person's mind. This will consolidate Hong Kong regards business of RMB of global off shore as the position of the hub further, will be helpful for RMB internationalization finally.

So, what are the specific arrangement that this Chinese Central Bank issues note in Hong Kong and prospective trend? The following content conduced to everybody having more intimate knowledge to this at 2 o'clock.

The announcement of invite public bidding that the author issues according to Chinese people bank and constitution of invite public bidding arranged the main item that this Central Bank bill distributes, detailed sees next tables:

Additional, bill of this second Central Bank is issued, only ability of member of settle accounts system is participated in in the center of the debt tool of golden canal bureau bid. If other enterprise or individual want to pass through bid bill of application subscribe Central Bank, can undertake through member of system of central settle accounts only. Up to on October 31, should be altogether has a member 201, it is orgnaization investor entirely, basically be medium endowment branch of bank Hong Kong, medium endowment the bank is overseas bank of branch, foreign capital, insurance company, stockjobber. After distributing a success, the negotiable securities account of settle accounts system undertakes cession in the center of the debt tool that holder of Central Bank note still can pass golden canal bureau. The note that the Central Bank issues in Hong Kong, fluidity is first-rate also.

Arrived 2004 2013, chinese people bank ever issued Central Bank note inside often. With this second issue in Hong Kong, main difference has at 2 o'clock: It is bill time go up, issued 1 year of 6 3 months, months, note of 3 kinds of deadline inside, this second issued only in Hong Kong 3 months mix 1 year two kinds of deadline, the author predicts follow-up Central Bank also can be in Hong Kong to issue the note of 6 months. 2 it is to issue means to go up, all issue inside for discount (after pressing convert of par interest rate, issue with the price under par value, when expiring again the price with be equal to par value is redemptive, not additional Fu Li ceases during publisher hold) , this second what use in Hong Kong is to press par value to issue. Chinese people bank is special in constitution of invite public bidding explain, for bill of farther perfect Central Bank bid mechanism, add the liquidity of Central Bank bill, the Central Bank undertakes price invite public bidding in Lv of prospective unified exam, discount is issued. Why is discount issued be helpful for adding liquidity? Because discount is issued when issue, release price under par value, when expiring, pay by par value, the price difference among is accrual. Be clear at a glance of the price when Central Bank bill is made over, convenient investor does business, liquidity will be so better.

Financial innovation never stops pace, chinese Central Bank also is innovating ceaselessly for years, this second choice issues RMB note in Hong Kong is a very marvellous innovation.