Finance and fiscal policy after the Fourth Plenum; Wang Yi in Russia; Rare earths; Japan-China; Macron to China; Real estate
Deep Dives
Explore related topics with these Wikipedia articles, rewritten for enjoyable reading:
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Renminbi
13 min read
The article discusses RMB exchange rate stability and internationalization efforts. Understanding the history, structure, and global role of China's currency provides essential context for comprehending Beijing's financial policy goals and the challenges of currency internationalization.
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Central Committee of the Chinese Communist Party
11 min read
The Fourth Plenum referenced is a meeting of the Central Committee. Understanding this body's structure, decision-making processes, and historical significance helps readers grasp how major economic and financial policies are formulated at the highest levels of Chinese governance.
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Cross-Border Interbank Payment System
11 min read
The article mentions building an 'independent and controllable RMB cross-border payment system.' CIPS is China's existing alternative to SWIFT, and understanding its development, current scale, and geopolitical implications illuminates China's financial infrastructure strategy.
Maintain the basic stability of the RMB exchange rate at a reasonable and equilibrium level. Promote the internationalization of the RMB, improve the level of capital account opening, and build an independent and controllable RMB cross-border payment system. Actively participate in and promote the reform of global financial governance - Wang Jiang
Summary of the Essential Eight:
1. Finance and fiscal policy after the Fourth Plenum - The Central Economic Work Conference should convene in the next week or so. As part of the ongoing series of officials writing about the Fourth Plenum and their areas of responsibility, the People’s Daily on Tuesday ran an article by Finance Minister Lan Fo’an about fiscal policy - Leverage the Role of Proactive Fiscal Policy - and on Wednesday by Wang Jiang, Executive Deputy Director of the Office of the Central Financial Commission and Executive Deputy Secretary of the Central Financial Work Commission, on Accelerating the Construction of a Financial Power…
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