Search Result

Srl

Item

ID: 090936

China's exchange rate movements and corporate currency invoicin / Yi, Jingtao

Yi, Jingtao	Journal Article
	0 Rating(s) & 0 Review(s)

Publication

2009.

Summary/Abstract

Since China introduced a new managed floating exchange rate regime in 2005, the persistent appreciation of the renminbi against the US dollar has led Chinese firms to reassess their choice of invoice currency among the dollar and other international alternatives to price their exports. The present paper performs a systematic invoice currency analysis by surveying the published literature, summarizing criteria for decision-making, and evaluating the choices available to Chinese exporters implementing currency invoicing strategies to maximize expected profits. This study finds that the euro could play an increasing role as the invoice currency of Chinese firms, although the US dollar will still play a dominant role. Chinese exporters might shift gradually from the dollar to the euro in the face of the falling dollar, balancing between the two by necessity.

Key Words

Renminbi exchange rate ; Invoice Currency ; Consumer Currency Pricing ; Producer Currency Pricing ; Vehicle Currency

In Basket

Export

ID: 125009

Renminbi exchange rate exposure: evidence from Chinese industries / Miao, Boyang; Zhou, Si; Nie, Jing; Zhang, Zhichao

Nie, Jing	Journal Article
	0 Rating(s) & 0 Review(s)

Publication

2013.

Summary/Abstract

This paper investigates sensitivity of stock returns of industry-sorted Chinese firms with respect to renminbi exchange rate movements. Strong evidence of significant exposure is documented for 7 out of 16 Chinese industries. Evidence is also found of the size asymmetry effects. In addition, we explore the characteristics of the exposure, and detect evidence of significant exposure among non-exporters in some of the industries. Special attention is given to examining the time-varying exposure under the impact of the new Chinese exchange rate regime in place since 2005, in which even stronger exchange rate exposure is reported. The conditional exposure estimated in this paper also reveals the close relation between stock returns and changes of the renminbi exchange rate.

Key Words

China ; Risk Management ; Renminbi exchange rate ; Chinese Economy ; Economic Policy - China ; Chinese Industries ;
Trade Policy - China ; Exchange Rate Exposure ; Chinese Stock Market

In Basket

Export

ID: 077035

Renminbi exchange rate in the increasingly open economy of Chin: a long-term strategy and a short term solution / Tung, Chen-Yuan

Tung, Chen-Yuan	Journal Article
	0 Rating(s) & 0 Review(s)

Publication

2007.

Key Words

Renminbi exchange rate ; Exchange rate regime ; Hot money ; Impossible Trinity ; Balence-of-Payments Crises Models

In Basket

Export

ID: 054141

RMB revaluation will serve China's self-interest. / Tung, Chen-Yuan; Baker, Sam

Tung, Chen-Yuan	Journal Article
	0 Rating(s) & 0 Review(s)

Publication

2004.

Key Words

Monetary Policy ; Renminbi exchange rate ; Exchange rate regime ; Foreign exchange reserve ; Hot money

In Basket

Export