Business
China considers plan to widen yuan trading limit after major Communist Party meeting
China’s central bank is considering a widening of the yuan’s trading band following an important Communist Party meeting this year – a largely cosmetic move that would burnish its reform credentials as official policy focuses on reducing debt.
The People’s Bank of China (PBOC) could widen the yuan trading range to allow it to rise or fall by 3 per cent against the dollar from the daily mid-point rate set by the central bank, according to four sources familiar with internal policy discussions. The current band allows for 2 per cent fluctuations.
The measure would allow the central bank to argue the yuan’s liberalisation was on track and could be useful in trade talks with Washington. However, tight controls on capital outflows and the level at which the yuan starts trading each day would reduce its impact, the sources said.
Distractions over, Beijing revives its global currency ambitions
“A yuan band widening is possible. There could be some internal consensus on this,” said one source who advises the government on policy. “But the impact won’t be big – it may just be a gesture to express the commitment to long-term market reform.”
Indeed, there seems to be little immediate pressure to widen the band – the yuan has never tested the 2 per cent daily limit that was introduced in March 2014.
The adoption of an undisclosed “counter-cyclical factor” in May gave the central bank greater control in setting the daily level around which the yuan can trade, but raised questions about its commitment to opening up the currency.
“We are going backward by adding a counter-cyclical factor,” said the policy adviser. “It’s very clear that the leadership wants exchange rate stability.“
However, there have been growing calls for yuan liberalisation, a favoured reform during recent Party Congresses, which are held every five years. The yuan trading band was widened in 2007 and 2012 before the party meetings.
One difference this year is that the change would likely come after the congress as officials have put a premium on market and economic stability this year, according to the…
Business
China Focuses on Finance and Energy Industries in Anti-Corruption Initiative – Thailand Business News
China’s anti-corruption conference emphasized intensified efforts in finance and energy sectors, aiming for comprehensive measures and accountability to restore public trust and foster a more equitable business environment.
China’s Anti-Corruption Initiative
China recently concluded a three-day anti-corruption conference, emphasizing its commitment to combat corruption across various sectors. The government underscored the importance of implementing comprehensive measures and ensuring accountability to safeguard integrity. This initiative addresses ongoing concerns regarding the detrimental effects of corruption on governance and public trust, aiming to promote transparency throughout the nation.
Targeting Key Sectors
In particular, China is intensifying its anti-corruption efforts within the finance and energy sectors, aligning with President Xi Jinping’s initiative for enhanced integrity. By concentrating on these areas, the government seeks to eliminate corrupt practices that threaten economic stability and undermine public confidence. Increased scrutiny in the financial sector has led to tougher regulations and high-profile dismissals of corrupt officials.
Commitment to Reform
China’s firm stance against corruption represents its dedication to fostering a fair business environment. As reforms unfold in critical sectors, the government aims to stimulate sustainable growth and restore public trust in its institutions. This approach marks a significant shift toward accountability in one of the world’s largest economies.
Source : China Targets Finance and Energy Sectors in Anti-Corruption Campaign – Thailand Business News
Business
Exploring New Ventures and Opportunities in Shanghai at NEPCON China 2025
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NEPCON China 2025: A Premier Electronics Assembly Event
NEPCON China is the most significant B2B event in the electronics assembly sector, scheduled for April 22-24, 2025, at the Shanghai World Expo Exhibition & Convention Center. This leading event unites top industry brands and innovative companies, focusing on advanced IC packaging while integrating essential new resources within key technology areas.
The event features various interactive sessions such as conferences, competitions, and award programs, creating an exceptional platform for business networking. Attendees will gain insights into emerging fields like AI and robotics, with more than 500 exhibitors showcasing cutting-edge technologies, including SMT, testing equipment, and smart factory solutions.
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Source : New Business, New Opportunities in Shanghai at NEPCON China 2025
Business
Party City Sent Employees to China for Supplier Meetings Right Before Bankruptcy: ‘You Left Us High and Dry’ | CNN Business
Party City’s product development team abruptly cut their China trip short due to financial instability, leading to bankruptcy and layoffs, leaving employees feeling blindsided and betrayed by management’s lack of communication.
Party City’s Sudden Trip Cancellation
On December 4, 2024, Party City’s product development team found themselves abruptly told to end their trip to China after just two days. Initially intended for twelve days, this visit was crucial for meeting suppliers of party supplies. However, internal communications revealed urgent issues at home, with management urging employees to return due to unpaid vendors and looming bankruptcy threats.
Unfolding Chaos and Confusion
Team members were left in disbelief, demanding clarity that never came. Stranded in a foreign country without support, they struggled to secure their return flights. Employees voiced concerns about safety amidst unresolved debts to suppliers, expressing dismay at being sent on such a risky endeavor without proper guidance.
A Troubling Outcome
Days after their return, the company announced it was filing for bankruptcy and liquidating, leaving employees blindsided. Many staff members now face layoffs and legal battles stemming from the process, articulating feelings of betrayal as they remember promises of a stable future made by their leaders.
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- Party City Sent Employees to China for Supplier Meetings Right Before Bankruptcy: ‘You Left Us High and Dry’ | CNN Business
