Hongkong how to seize the opportunities brought about by the internationalization of the RMB 小坂めぐる

Hongkong how to seize the opportunities brought about by the internationalization of the RMB? Sina App: Live on-line blogger to guide Sina Hong Kong APP: real time market exclusive reference stocks also worth the investment? What’s the problem? Where is the future of the way out? Sina launched the "Hong Kong Hong Kong stocks as well as unattractive" discussion, with a rational and constructive attitude, welcome attention to Hong Kong stocks, concern of the capital market, Hong Kong stocks together for suggestions, seek the Hong Kong stock market tomorrow. Please to hkstock_biz@sina. The related products of Peking University HSBC School of finance professor Ba Shusong Hongkong should vigorously develop the renminbi from Hongkong’s perspective, in the exhibition of RMB internationalization has brought many new demands for financial services, the new power for the formation of financial market development. The RMB currency basket after entering the SDR, a member of the global economy 188 IMF of automatic hold Renminbi in foreign reserves, relevant to the needs of economic central bank may need in-depth study of the investment of RMB, RMB products. As an international financial centre, institutions in Hongkong’s financial markets can be familiar with both the mainland and the international two markets, the most qualified to provide these new services on the renminbi. Before the exchange rate of 8 and 11, Hongkong, as an offshore RMB center, was largely driven by the one-way appreciation of the renminbi and the motive of arbitrage. When the appreciation is expected to change, the size of the RMB market in Hongkong tend to fluctuate easily. In this sense, the 8 and 11 exchange rate reform is an important turning point in the power of RMB internationalization, means that the main driving force will be mainly driven by the internationalization of the RMB appreciation is expected to provide two-way fluctuations in the RMB exchange rate on the basis of the diversification of financial products. If the internationalization of the RMB exchange rate appreciation is expected to rely solely on this kind of power is difficult to continue, and to be able to provide a variety of financial products, such internationalization is sustainable. With the deepening of internationalization, the RMB exchange rate has entered the era of two-way volatility, active management risk is more important than the passive acceptance of volatility. Offshore market volatility is more intense, the need for risk management. As the world’s largest offshore RMB center, Hongkong should consider the development of RMB denominated exchange rate, interest rate products. Specifically, the formation of the RMB pricing ability depends on the diversification of the depth of RMB denominated products. RMB appreciation, Hongkong can provide a wide range of RMB denominated assets, because appreciation is conducive to the holding of RMB assets. When the RMB exchange rate devaluation, Hongkong can provide a variety of RMB debt products. The rise of RMB exchange rate flexibility is conducive to the development of risk management products, including the RMB against more money. Although the basic framework of the reform of the RMB exchange rate pricing mechanism has been set up, but the necessary policy supporting and supporting tools need to be further improved. We have seen that in the 8 and 11 exchange rate reform, the shore and offshore spreads in a short period of time quickly increased to about 1000 basis points, and the day to expand the volatility of the RMB exchange rate stability has a greater interference. This phenomenon reflects the theory of RMB offshore market相关的主题文章: