Discipline restored: but can China sustain the renminbi's recovery?

Article Abstract:

China's currency, the renminbi, has risen in value against the US dollar since Jun 1993 when the Chinese government eased trading-price ceilings. By August the exchange rate being offered at China's swap markets had climbed to about 8.80 to the dollar, while the foreign-exchange certificates remained at the official exchange rate, 5.70. Whether this recovery will endure will depend on the success of Vice-Premier Zhu Rongji's effort to slow down China's overactive economy. The new rates have diminished black market demand for dollars in China.

Author: Kaye, Lincoln
Publisher: Review Publishing Company Ltd. (Hong Kong)
Publication Name: Far Eastern Economic Review
Subject: Business, international
ISSN: 0014-7591
Year: 1993
AGRICULTURAL PRODUCTION--CROPS, Prices and rates, Currency swaps, Yuan (China)

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Paging 'action man': Zhu's mission: to regain control of the economy

Article Abstract:

Zhu Rongji, the newly appointed governor of the People's Bank of China, has the task of controlling the county's runaway economy and will have broad powers over banking, industry and agriculture. His appointment signals the importance of the economic crisis in China. Zhu has a reputation as being both cautious and forceful and as bolder in implementing policy than in inaugurating it. Observers expect that he will refine the economic system rather than completely reforming it.

Author: Sender, Henny, Kaye, Lincoln
Publisher: Review Publishing Company Ltd. (Hong Kong)
Publication Name: Far Eastern Economic Review
Subject: Business, international
ISSN: 0014-7591
Year: 1993
Officials and employees, Cover Story, Capital movements, People's Bank of China, Zhu Rongli

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Subjects list: China, Economic policy
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