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Strategies & Market Trends : China Warehouse- More Than Crockery -- Ignore unavailable to you. Want to Upgrade?

To: RealMuLan who wrote (5262)	8/2/2005 2:08:31 PM
From: RealMuLan	Read Replies (1) \| Respond to of 6370

China to Post Online Any Violations in Yuan Trading 2 August 2005 (CHINA KNOWLEDGE PRESS) Aug. 2, 2005 (Bloomberg) - China's currency regulator said it has started to publish details of trading violations in its foreign-exchange markets to promote ``order'' and ``trust.'' The State Administration of Foreign Exchange posted online all breaches of market rules since the start of last year, and will publish new cases as they occur, it said in a statement. The disclosure ``will uphold economic order in the foreign exchange market and encourage trust, while at the same time making it easier for the government to administer the law and boost transparency,'' the statement on its Web site said. China is seeking to clarify how the currency basket system it introduced on July 21 to manage the yuan operates without giving information that would allow investors to guess at what levels the central bank might buy or sell the yuan to stem declines or gains. The People's Bank of China on July 29 said it would provide investors with some ``technical'' details of how the yuan's currency basket operates and its plans to introduce derivatives. Governor Zhou Xiaochuan said the information will be part of the next step in making the yuan more flexible, according to a statement on the bank's Web site. The central bank allowed the yuan to gain 2.1 percent to 8.11 against the dollar on July 21, ending the peg of 8.3 introduced in 1995. It sets the official fixing price of the yuan, which then becomes the mid-rate for trading on the next working day. chinaknowledge.com