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Electronic Payments Electronic payments handled by Chinese banks and non-bank payment institutions both registered rapid growth in 2021, a report from the People's Bank of China showed. Representatives of the attending companies said they consider China one of their most important overseas markets, and will increase investment in areas including new-energy vehicle batteries, hydrogen energy, and research and development. The People's Bank of China (PBC) announced on April 2 that its digital yuan pilot program will expand to more domestic cities. [Extracted from the article]

The article presents the top 10 events in China in 2010. The gross domestic product (GDP) increased by 10.6% in the first three quarters of the year, with China's GDP surpassing Japan's in the second and third quarters. Policymakers strengthened macroeconomic controls due to increasing prices across the country. The People's Bank of China decided to proceed with the yuan exchange rate reform, which will be implemented on June 19.

The article offers information on Phase II of the Cross-Border Interbank Payment System (CIPS) yuan payment platform, launched by the People's Bank of China (PBC) to increase the internationalization of the renminbi.

The article focuses on the Special Drawing Rights (SDR)-denominated bonds issued by the World Bank and its benefits in interbank market of China with approval of the People's Bank of China (PBOC). It mentions that the addition of renminbi to the SDR currency enables it to perform better and its responsibilities to maintain global financial stability.

The article discusses two-way fluctuation in China's Yuan currency. The Yuan's exchange rate has depreciated more than 6 percent since the new exchange rate reform in 2015. Other topics include announcement by the People's Bank of China (PBOC) to improve the quotation of the central parity of the yuan against the U.S. dollar, the market expectation of the yuan's exchange rate, and the exchange rate movements of major currencies.

The article discusses China's move to widen the yuan-dollar trading band. The Chinese government is committed to advance exchange rate reform and is driving the internationalization of the yuan. The central bank, the People's Bank of China, has widened the trading band for the yuan against the U.S. dollar from 0.5 percent to 1 percent on April 16, 2012. The move aims to promote yuan's exchange, as well as improve its two-way fluctuation flexibility.

The article reports on the plan of China to gradually relax controls over the capital account and boost the Chinese yuan as a global currency. The government is planning to open its capital account a little wider and accelerate the internationalization of the Chinese yuan, according to the People's Bank of China. Between 2012 and 2014, restrictions on Chinese enterprises' direct outbound investment will be made. Between 2014 and 2019, the financial market construction will be strengthened.

The article discusses the new measures outlined by the People's Bank of China in its first document of 2011, which concern a pilot program to allow non-financial enterprises to use the yuan, also called the renminbi, in settlement while making investments in overseas markets. The new measures mean that foreign entrepreneurs can get funding denominated in the currency of China. Banking professor Guo Tianyong says that allowing yuan settlement in outbound direct investments will help avoid settlement risks brought about by the third-party currency.

This section offers news briefs related to the economy of China as of July 1, 2010. The People's Bank of China has decided to pursue the renminbi exchange rate reform. The National Audit Office reported about local government debts to the 15th session of the Standing Committee of the 11th National People's Congress. According to the data of China Index Research Institute, 13 of the country's top 50 developers carry a debt ratio of more than 70%.

An excerpt of the statement about the planned reform of the People's Bank of China for renminbi exchange rate regime from its web site is presented.

The article offers information on the 2008 second-quarter monetary report issued by People's Bank of China. According to the central bank, the country's financial market was heading smoothly toward the macroeconomic control direction it had set and it had improved the flexibility of the renminbi exchange rate policy by allowing the currency fluctuate in accordance with major world currencies. The report also cites that the government would keep the stability and continuity of its current monetary policy.

A photograph of the one Chinese yuan coin issued by the People's Bank of China to celebrate the coming year of the horse in 2014 is presented.

The article reports that according to the People's Bank of China, the central bank of China, new yuan-denominated lending increased to 703.9 billion Chinese yuan or 111.2 billion dollars in August 2012, marking a year-on-year increase of 155.5 billion Chinese yuan or 24.6 billion dollars.