China is again responding to foreign pressure with a surge in the renminbi. But a coming slowdown in exports, a desire to limit the predictability of the renminbi’s rise and, possibly, a rebound of...

The $194bn increase in China’s foreign exchange reserves in the third quarter was one of the biggest on record. There are two immediate implications.

The most closely-watched data release this month will be that for third quarter GDP, due on the 21st. But a more momentous event will take place a few days earlier when the Communist Party leadership...

Reuters is reporting that the required reserve ratio (RRR) for major banks has been raised. The People’s Bank (PBC) has not confirmed the move, but if true the best explanation is that the large banks...