A Hong Kong dollar for China

Article Abstract:

China could move toward a free-market economy and the free trade of renminbi by endorsing the Hong Kong dollar for international trade and investment. The govt could let companies hold Hong Kong dollar accounts, ease foreign exchange restrictions, and make the interbank exchange rate be the real- market rate. A similar, though unofficial, system reigned from 1979 to Jan 1994, though it had problems. Currently the govt assumes exchange risk because foreign currency goes to the state rather than private enterprise.

Management, Forecasts and trends, Yuan (China)

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Warning off Soros: pegging the Hong Kong dollar to 1997

Article Abstract:

Hong Kong officials are planning to defend the strength of their currency against any political uncertainty due to the 1997 transfer to China. The government hopes to maintain the Hong Kong dollar at a peg of about 7.8 per US dollar. Although the Hong Kong dollar has strong backing, there is only so much the government can do to maintain its value. The people's belief in political stability, rather than the size of financial reserves, is what ultimately determines the currency's strength.

Administration of General Economic Programs, Currency Stabilization Programs, Editorial, Political aspects, Currency stabilization, Foreign exchange market

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Overnight funds

Article Abstract:

China's promise to retain the capitalist system in Hong Kong after the handover makes bankers optimistic about maintaining their businesses in the British colony. However, Hong Kong must maintain its political and economic stability as well as its legal system to continue being a feasible global center for banking.

Hong Kong, Private banking

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