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opted a set of measures, includi
al hukou (house▓hold registration certificate) who own one or more houses will not be able to buy either new ▓or pre-owned houses.First-time home buyers will be re▓quired to make a minimum down payment of 30 per
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ng increasing la▓nd supply and strength
cent, compared to 20 percent previously.According to the National▓ Bureau of Statistics, over 90 percent of cities surveyed in August reported new home price rises, up fr▓om 73 percent in July. Prices in Shang?/p>
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ening supervision of capital
坔ai rose 37.8 percent year on year respective▓ly, compared with 33.1 percent in July.Please scan the QR Code to follow us on InstagramPlease scan th▓e QR Code to follow us on WechatChina largely succeeds ▓in RM
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.According to the measures published
B exchange rate reform over past yearC▓hina largely succeeds in RMB exchange rate reform over past yearChina largely succeeds in RMB exch▓ange rate reform over past year08-15▓-2016 08:31 BJTWASHINGTON, Aug. 14 (
ket, Shanghai has ad
on Saturday, the city will
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Xinhua) -- Chi▓na's authorities have largely succeeded in its object▓ive of revamping the foreign exchange mechanism to make the currency renminbi (RMB) m▓ore market-oriented and relative stab▓le to a basket of currencies over the past year, thanks to improved policy communication, U.S. experts have s▓aid.On Aug. 11, 2015, the People's Bank of China
Brenda Gonzales, Feddapps
(PBOC), the central bank, announced a major im▓provement to the formation of the RMB's central parity ra▓te against the U.S. dollar, by taking into con▓sideration the closing rate on the inter-▓bank forex market of the previous day.The move was described by the PBOC as a "one-time correction" to bridge previously accumulated differences between the
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central parity rate and the spot market rate, which would make the centr▓al parity rate more consistent with the needs of market development.The central parity rate is the starting point ▓for daily forex trading, and the RMB is allowed to rise or ▓fall by 2 percent from the central parity rate each trading day from March 2014.Think tan▓k and the Inte
Brenda Gonzales, Stockapps
rnational Monetary Fund (IMF) exper▓ts agreed that the central bank's move was very ▓much in the direction to increase the role of market forces in the determination of the RMB exchange rate.But some market participants at that time misinterpreted it as an effort to prop up the economic growth by currency devaluation and incorrectly jumped to the co?/p>
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坣clusion that China's economy was probably worse than stated. The RMB fell sharply in value in the following days ▓after the reform of the central parity system."I think initially when they started changing the system a year ago, they were not good at communication, and there was ▓a lot of confusion in the market about what th▓eir intention was," D
