A study on current account convertibility of reminbi.

• Other Authors: Yan, Yuk Fung.
• Format: Others
• Language: English
• Published: Chinese University of Hong Kong 1996
• Subjects: Foreign exchange rates; Foreign exchange rates > China; Currency convertibility; Currency convertibility > China; Monetary policy; Monetary policy > China
• Online Access: http://library.cuhk.edu.hk/record=b5888633; http://repository.lib.cuhk.edu.hk/en/item/cuhk-320779

by Yan Yuk Fung. === Thesis (M.B.A.)--Chinese University of Hong Kong, 1996. === Includes bibliographical references (leaves 41-42). === ABSTRACT --- p.i === TABLE OF CONTENTS --- p.ii === LIST OF ILLUSTRATIONS --- p.iv === ACKNOWLEDGMENT --- p.v === Chapter === Chapter I. --- INTRODUCTION AND METHODOLOGY --- p.1 === Chapter II. --- BENEFITS AND TYPES OF CONVERTIBILITY --- p.3 === Economic Benefits --- p.3 === Current Account Convertibility --- p.4 === Capital Account Convertibility --- p.5 === Chapter III. --- TRENDS OF BALANCE OF PAYMENTS IN CHINA --- p.7 === Characterics --- p.7 === Trend of Current Account Balance --- p.8 === Trend of Capital Account Balance --- p.9 === Cyclical Nature of Balance of Payments --- p.10 === Chapter IV. --- EVOLUTION OF FOREIGN EXCHANGE REGIME SINCE 1978 --- p.12 === Trade Liberalization --- p.12 === Control on Current Account Transactions --- p.13 === Foreign Exchange Retention System and Swap Centres --- p.14 === Chapter V. --- DEVELOPMENT OF CONVERTIBILITY IN 1994 --- p.16 === Achieved Convertibility on Trade Related Transactions --- p.16 === China's Choice of A Managed Floating Rate Regime --- p.18 === Chapter VI. --- CONDITIONS FOR CONVERTIBILITY --- p.21 === Stable Domestic Price --- p.21 === Favourable Balance of Payment --- p.22 === Sufficient Foreign Reserve --- p.23 === Exchange Rate Stability --- p.24 === Liberalization Measures on Service Transactions Implemented in 1996 --- p.24 === Chapter VII. --- RISKS OF CONVERTIBILITY --- p.26 === Peso Depreciation in Mexico --- p.26 === Export Slowing Down in China --- p.27 === Cumulative Inflation --- p.28 === Budget Deficit --- p.29 === Risk of Import Surging with China Entering WTO --- p.30 === Foreign Direct Investment Slowing Down --- p.30 === Political Risks within China and Across the Formosa Strait --- p.31 === Chapter VIII. --- POLICY PRESCRIPTIONS --- p.33 === Maintain Balance of Payments --- p.33 === Fiscal & Monetary Discipline --- p.34 === Improve Efficiency of Foreign Exchange Market --- p.35 === Strengthen Economic and Financial Reforms --- p.35 === Avoid Premature Capital Account Convertibility --- p.36 === Chapter IX. --- CONCLUSION --- p.38 === RMB Full Current Account Convertibility Achievable Before 2000 --- p.38 === Business Implications --- p.39 === BIBLIOGRAPHY --- p.41