Currency reserves down, gold reserves up
At the end of August this year, the size of Chinese abroad currency reserves was 3.16 trillion USD (about PLN 13.64 trillion), which means a decrease of 1,38% in the year-to-year ratio.
According to the State Administration of Exchange of abroad Currency (chin. 国家外汇管理局) this is the consequence of a circumstantial monetary policy, a rising US dollar rate, a global fall in the price of financial assets.
Despite fluctuations, China's abroad reserves stay stable.
In August this year again, the central bank of the PRC, i.e. the People's Bank of China (chin. 中国人民银行) increased its gold reserves. He bought about 930 1000 ounces of gold by expanding the resources of this goldstone to 69.62 million ounces (2 165 tons). They are besides comparatively tiny compared to the gold reserves collected by the United States, Germany, Italy, France or Russia.
In China, gold accounts for only 4% of all reserves.
The People's Bank of China is 1 of the world's largest gold buyers this year. Immediately after the Chinese central bank, the National Bank of Poland was included in this ranking.
Source: baijiahao.baidu.com
Student debt limits up
Starting this year's fall semester, the yearly amount of the debt that students from higher education, vocational schools and postgraduate studies can apply for is increased. Ministry of Education (chin. 教育部), Ministry of Finance (chin. 财政部) and Central People's Bank of China (chin. 中国人民银行) decided that quota students of higher education institutions and students of vocational schools may apply for a debt increased from 12,000 RMB (approx. 7 717 PLN) to 16,000 RMB (approx. 9 562). However, students of postgraduate studies with a debt increased from 16,000 RMB to 20,000 RMB (approx. 11 954 PLN).
Student loans are to be utilized to pay the cost of education, accommodation during the learning period, as well as to cover regular maintenance costs. The yearly interest rate on these loans is to be lower by 30 basis points than the corresponding marketplace credit, and by 60 basis points in the case of a credit drawn for 5 years.
It besides provides for the anticipation to negociate contracts for older loans already granted in order to get this preferential interest rate.
Source: thepaper.cn
Expansion
United Overseas Bank (UOB) based in Singapore presented the results of a survey conducted among companies on the preferred business expansion directions of these companies.
Companies from Indonesia, China, Thailand and Vietnam have shown their top interest in expanding to abroad markets, while the smallest companies from Hong Kong, Malaysia and Singapore have.
Among the more than 4,000 companies surveyed as the 2 most crucial markets for the planned expansion, South-East Asia and China were recognized. In the first region, Singapore, Thailand and Malaysia were considered the most crucial markets for business expansion.
50% of surveyed companies are starting and developing business in China. Further in South Korea and Japan, Taiwan, Europe, and the last indication was the United States and Canada.
The expansion of abroad markets is mainly afraid by technology, media and telecommunications companies, followed by oil and gas extraction and processing, manufacturing and engineering companies. For these companies China is simply a precedence market.
United Overseas Bank Limited (UOB) is simply a Singaporean global banking corp based in Raffles Place, Singapore, with branches mainly located in most Southeast Asian and east Asian countries. It is 1 of 3 “large local banks” in the country, the another 2 being DBS Bank and OCBC Bank.
Founded in 1935 as United Chinese Bank (UCB), it is the 3rd largest bank in Southeast Asia in terms of full assets.
POB provides commercial and corporate banking services, individual financial services, private banking, asset management services, corporate finance, venture capital, investment and insurance services.
It has 68 branches in Singapore and a network of over 500 offices in 19 countries and territories in the Asia-Pacific region, Western Europe and North America.
Source: uobgroup.com/uobgroup/newsroom
Author: 梁安基 Andrzej Z. Liang, 上海 Shanghai, 中国 China
Email: [email protected]
Editorial: Leszek B.
Email: [email protected]
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