{"id":12040,"date":"2015-09-07T16:38:08","date_gmt":"2015-09-07T08:38:08","guid":{"rendered":"http:\/\/westchina.austcham.org\/?p=12040"},"modified":"2015-10-30T16:39:19","modified_gmt":"2015-10-30T08:39:19","slug":"financial-services-talking-points-07-09-2015-2","status":"publish","type":"post","link":"https:\/\/westchina.austcham.org\/?p=12040","title":{"rendered":"Financial Services Talking Points 07-09-2015"},"content":{"rendered":"

\"fin\"<\/a><\/p>\n

Date:<\/strong> Monday, September 7th<\/sup>, 2015<\/em><\/p>\n

\u00a0<\/strong><\/p>\n

Statement about regulations of MNCs\u2019 foreign currency funds in concentrated operation and management<\/strong><\/a> (Chinese)<\/strong><\/span><\/p>\n

Source: safe.gov.cn, 02 September 2015<\/p>\n

In order to facilitate trading investment and serve the substantial economy, SAFE decided to implement several pilot programs. These improvements include simplifying opening account requirements and foreign exchange procedures, attempting self-management in foreign debts proportion, enhance supervision after transfer.<\/p>\n

\u00a0<\/strong><\/p>\n

G20 vows to boost fragile growth, nudges China on currency<\/strong><\/a> (English)<\/strong><\/span><\/p>\n

Source: Agence France Press, 05 September 2015<\/p>\n

G20 financial leaders pledged Saturday to act decisively to shore up stuttering global growth and refrain from unsettling currency moves after China’s controversial devaluation last month. There are several issues they are worried about, including competitive currency devaluation, emerging market, weak economic indicators, lack of market engines and illegal migration resolution.<\/p>\n

 <\/p>\n

Will market volatility stall China’s liberalization plan?<\/strong><\/a> (English)<\/strong><\/span><\/p>\n

Source: ANZ Bank, 31 August 2015<\/p>\n

The Chinese authorities will continue with reforms to accelerate capital account liberalization. Initially the response of RMB depreciation was most felt in Asian currency markets. And then, it has broadened to encompass global financial markets, especially in the volatile equities market.<\/p>\n

 <\/p>\n

Global stocks mixed after torrid week<\/strong><\/a> (English)<\/strong><\/span><\/p>\n

By Agence France Press, 28 August 2015<\/p>\n

Global equities were hammered on Black Monday as risk-averse investors dumped shares on spreading panic that China could spark a worldwide recession. However, sentiment was soothed by Tuesday’s interest rate cut from PBoC and by Thursday’s bright GDP data in US. On Friday, while Shanghai gained 4.82 percent, Seoul, Sydney, and several other Asian markets also rose.<\/p>\n

 <\/p>\n

RBA leaves interest rates on hold at 2pc despite global market volatility<\/strong><\/a> (English)<\/strong><\/span><\/p>\n

By ABC, 01 September 2015<\/p>\n

The RBA has left interest rates on hold at their historic low of 2% for the fourth consecutive month, since May when they cut rates to 2%. After the announcement the Australian dollar remained largely unmoved, trading at 0.7145 cent against the US dollar. The RBA cut rates to their historic low in May.<\/p>\n

 <\/p>\n

A slowing Chinese economy and angst over a possible US interest rate rise<\/strong><\/a> (English)<\/strong><\/span><\/p>\n

Source: Macquarie Group, 03 September 2015<\/p>\n

Uncertainty around the continued slump in oil prices, falling inflation expectations and the slowing of China\u2019s economy create a confluence of \u2019known unknowns\u2019 the exact effects of which can only be determined in hindsight. A sense of panic spreading all over the world, a global sell off is triggered by concerns about China\u2019s slowing economy, weak commodities and falling inflation expectations. Since the volatility index is reaching its highest level since GFC, analysts believe the correction in equities is over-reaction.<\/p>\n

\u00a0<\/em><\/strong><\/p>\n

Other Financial Services Working Group Members\u2019 market updates<\/em><\/strong>:<\/strong><\/p>\n

Australian Markets Weekly<\/a><\/span> by National Australia Bank<\/p>\n

Australian Economic Perspective<\/a><\/span> by Commonwealth Bank<\/p>\n

Australian Economic Reports<\/a> <\/span>by Westpac Banking Corporation<\/p>\n

ANZ Bluenotes<\/a><\/span> by ANZ Bank<\/p>\n

Market Insights<\/a><\/span> by Macquarie Group<\/p>\n

 <\/p>\n

This brief\u00a0summarises a range of publicly available news articles in both Chinese and English and AustCham\u00a0takes no responsibility for the\u00a0accuracy of the information in these articles. In\u00a0addition, the views and opinions reflected in these articles\u00a0are\u00a0not necessarily representative of AustCham.<\/em><\/p>\n

 <\/p>\n

AustCham Beijing\u2019s Financial Services Working Group is chaired by Zhongmin Zha (Westpac Banking Corporation). For more details on how to get involved in the AustCham Beijing Financial Services Working Group, please contact <\/em>Andrew Britz<\/em><\/a><\/strong><\/span>.<\/em><\/p>\n

 <\/p>\n

Click here<\/strong><\/span><\/a><\/span> to get a PDF version.<\/p>\n","protected":false},"excerpt":{"rendered":"

Date: Monday, September 7th, 2015 \u00a0 Statement about regulations of MNCs\u2019 foreign currency funds in concentrated operation and management (Chinese) Source: safe.gov.cn, 02 September 2015 In order to facilitate trading …<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[32,26,33],"tags":[],"class_list":["post-12040","post","type-post","status-publish","format-standard","hentry","category-financial-services","category-news","category-others"],"acf":[],"_links":{"self":[{"href":"https:\/\/westchina.austcham.org\/index.php?rest_route=\/wp\/v2\/posts\/12040","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/westchina.austcham.org\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/westchina.austcham.org\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/westchina.austcham.org\/index.php?rest_route=\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/westchina.austcham.org\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=12040"}],"version-history":[{"count":1,"href":"https:\/\/westchina.austcham.org\/index.php?rest_route=\/wp\/v2\/posts\/12040\/revisions"}],"predecessor-version":[{"id":12043,"href":"https:\/\/westchina.austcham.org\/index.php?rest_route=\/wp\/v2\/posts\/12040\/revisions\/12043"}],"wp:attachment":[{"href":"https:\/\/westchina.austcham.org\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=12040"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/westchina.austcham.org\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=12040"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/westchina.austcham.org\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=12040"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}