China sets fiscal milestone in shift to convertible yuan

Article Abstract:

The Chinese government has initiated foreign currency reforms that would allow foreign-funded enterprises to convert their currency to the Chinese yuan. The reform will prove significant in the long-term since it would allow foreign firms operating in China to repatriate profits. As part of the reform, China also plans to liberalize restrictions on the private use of foreign exchange by residents traveling abroad. China's recent reform initiatives are part of its efforts to comply with the IMF's current-account convertibility regulations. Analysts lauded China's moves but noted that the reforms will not have a major impact on foreign firms since many still find it difficult to gain access to foreign exchange.

Foreign Exchange & Reserves Policy, China, Economic aspects, Monetary policy, Convertible money

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Colony begins campaign meant to reassure visitors

Article Abstract:

The Hong Kong Tourist Assn. (HKTA) has launched a global advertising campaign to attract foreign visitors through the territory's 1997 handover to China. HKTA officials want to address any concerns the rest of the world might have about Hong Kong's future. The campaign also aims to offset mounting competition from other tourist destinations in the region, notably Thailand. The campaign also seeks to boost local residents' awareness and appreciation of the role tourism plays in the colony.

International Affairs, Travel Promotion (Govt), Domestic Travel by Foreigners, Travel industry, Advertising, Tourism, Tourism promotion, Foreign visitors, Hong Kong Tourism Board

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Singh, seeking to reassure foreign investors, says reform of Indian economy is irreversible

Article Abstract:

Indian Finance Minister Manmohan Singh is confident that the country's economic reforms will continue regardless of future political changes. Singh stated that India's reformist policies are irreversible and that a change in the government will not affect this agenda. Many observers view Singh's pronouncements as an attempt to reassure foreign investors, many of whom have expressed concern over the growing anti-foreigner stance of Indian opposition parties.

Regulation of Dom Invest by Foreign, Foreign investments, Political aspects, Beliefs, opinions and attitudes, India, Foreign investment laws, Singh, Manmohan (Indian prime minister)

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