China must create more channels for investors and companies to use the yuan if it wants to internationalize the currency and put it on a par with the yen and the euro, central bank officials and economists told a forum in Shanghai yesterday.
A bartender at my neighborhood pub recently asked me how the Shanghai stock market was performing. I said it was at about 2,600 points. He jumped and said, “No! The Communist Party wouldn’t let that happen.”
From her leafy, 11th-floor rooftop terrace at the headquarters of Soho China Ltd ., billionaire Zhang Xin scans the relentlessly expanding Beijing skyline she helped create. Zhang’s avant-garde buildings -- some sleek as chopsticks, others stepped like rice terraces -- became part of the hottest real estate market on Earth in 2010.
China has to raise deposit rates by “at least” 3 percentage points in the next 12 months to protect investors faced with a negative return on their savings as inflation accelerates, independent economist Andy Xie said.