Set on avoiding devaluation

Article Abstract:

The Chinese government has announced plans to limit the level of yuan trading overseas, in a move to boost its monetary system. Top officials at Bank of China recently revealed that all inward remittances and foreign yuan accounts would be nullified effective Jun 10, 1999. Although a number of speculators believe that the decision would eventually result in the devaluation of the Chinese currency, investors are optimistic that it would yield negligible impact on their business.

Administration of General Economic Programs, Foreign trade, Currency Stabilization Programs, Evaluation, International trade, Economic policy, Monetary policy, Currency stabilization, Yuan (China)

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Shanghai: equipped for APEC

Article Abstract:

As Shanghai prepared to host the Asian Pacific Economic Cooperation (APEC) meeting, the government took on new security measures to keep its participants safe. Some of the security measures included: reviewing records at the country's border checkpoints; expanding police presence; wider police cordons surrounding areas where top leaders were staying; implementation of restrictions of new visas; and monitoring food sold in restaurants.

Conferences, meetings and seminars, Safety and security measures, Brief Article, Meetings, Asia-Pacific Economic Cooperation, Shanghai, China

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Opportunity to catch rivals

Article Abstract:

J.P. Morgan Chase and Co. hopes to enter China, offering underwriting, asset management and corporate banking, after forming a joint venture with Hua An Fund Management Co. The new venture will become active once China has officially joined the World Trade Organization.

Financial Services, Finance and Insurance, Services information, Financial services industry, Services, J.P. Morgan Chase and Co.

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