China

Weak demand causes failure.

It will last until October.

 

Zhongguancun Branch leading the focus on SMEs.

New branch is at Yangzhou City.

Propelled by China’s souring economy.

Needed to support cash-starved small firms.

It fell to RMB 809b.

But will go easier on local lenders.

Will permit banks to sell-off loans to more investors.

It's 15% below the average H1 monthly run-rate.

Bank of China says more direct RMB settlements needed.

Will focus on Chinese companies.

First of its kind.

The rise was mainly driven by a rise in CNH FX turnover.

The fifth China-US Strategic and Economic Dialogue concluded on 11 July. Unlike previous meetings, the emphasis was not on the value of the renminbi (RMB). There seem to be two reasons. First, China’s current surplus has come down to 2.3% of GDP in 2012, comfortably below the 4% proposed by the US as a way of defusing tension over currencies. Second, the RMB has appreciated 3.4% against the USD since Aug12; the most among Asia ex-Japan currencies. Over the same period, the RMB has strengthened 6.6% in nominal trade-weighted terms.