e p▓r
ogram in 2015 as the country faced mounting pressure from capital outflows. But the renewed foreign interest indicates that the authorities may lift the suspension in the near future.Th▓e recent market correction is not expected to detr▓act from China's effort to reform its capital market or boost the attractiveness of A-shares to domestic▓ and foreign investors.The Shenzhen Stock Exchange said on F▓riday in its 2018-20 development plan that it will reform the current listing requirements for its startup board and will make the exchange more inclusive for high-tech and innovative companies.Please scan the QR Code to follow us on InstagramPlease scan the QR Code to follow u▓s on WechatMarket to have more say in renminbi rateMarket to have more say in renminbi rateMarket to have more say in ▓renminbi rate01-30-2018 09:39 BJTPrudent, neutral monetary policy set 'to c▓ontinue'The People's Bank of China, the central bank, will ▓allow the market to play a bigger role in determining the yuan's exchange rate while maint▓aining a prudent and neutral monetary policy this year, a top official said on Monday.Chi▓na will continue to deepen the reform of the yua▓n's exchange rate mechanism, based on market supply and de▓mand and adjust it according to a basket of foreign ▓currencies, Yi Gang, vice-governor of the PBOC, wrote in an article in a local magazine.The currency's exchange rat▓e mechanism will be "managed and floating". It will be more flexible when both up and down fluctuations may become the normal trend, said Yi, who also mentioned that the ▓financial regulator will take "counter-cyclic▓al measures" to adjust cross-border cap▓ital flows."The steady progress of the market-oriented reform on yuan's exchange rate is a▓ble to effectively enhance the resilience of the Chinese financial sector to tackle external shocks▓", said Yi.The central bank official reiterated in the article that the country's monetary policy will remain "prudent and ne▓utral" in 2018, to control the total money supply, wh▓ile continually pushing forward finan▓cial reforms to let the market play a decisive role▓ in resource allocation.The top financial regula▓tors are considering including shadow banking activities, real estate fina▓ncing and fintech under the broad supervisory framework, known as the macro prudential assessment framework, to tighten regulation in those ▓areas and prevent systemic financial risks, said the official.Economists and experts predicted that the Chinese▓ monetary policy might have a tight bias this year, influenced by the world's major central▓ banks that might gradually withdraw the abnormal m▓onetary easing since the global financial crisis as the global economy shows signs of recovery.Wei Jianguo, former vice-minister of commerce, told China Daily that the change in big central banks' monetary policy tone from easing to normalization, especially▓ when
he pilot progrthe United States Federal Reserve determined to reduc▓e asset purchases and predicted another two or three interest rate hikes this year, will bring challenges for Chinese policymakers.It might resu▓lt in certain floating losses of oversea▓s assets held by the Chinese government, as China holds a large amount of US Tre▓asury bonds and the interest rate hikes will reduce the b▓onds' price, according to Wei."The Fed's interest rate hi▓kes will add more pressure on China as cross-border capital outflows may accelerate, a▓nd it would become more difficult to maintai▓n relatively balanced capital flows," said Wei.Please scan the QR Code to foll▓ow us on InstagramPlease scan the QR Code to follow us on WechatBeijing's secondary home market feels the chillBeijing▓'s secondary home market feels the chillBeijing's se▓condary home market feels the chill09-26-2017 16:54 BJTBeijing's secondary home market is cooling down as the number of people who signed contracts to b▓uy used homes declined.In the third quarter of this year, the figure has fallen to the lowest it's been in the past 10 quarters, and ave▓rage price of the used home also has decreas