Central Bank Announces China'S Monetary Policy Memorabilia In 2011

In early 2011, the people's Bank of China introduced differences.

In January 6th, the business development and Reform Commission, the Ministry of Commerce, the people's Bank of China jointly with the State Administration of foreign exchange formulated and promulgated the "measures for the management of pilot projects for RMB settlement of foreign direct investment" (announcement by the people's Bank of China [2011] first). Banks and enterprises in the pilot area of cross border trade RMB settlement can conduct pilot projects for RMB settlement of foreign direct investment.

In January 14th, the people's Bank of China decided to raise the deposit reserve ratio of deposit financial institutions by 0.5 percentage points from January 20, 2011.

In January 25th, the people's Bank of China reported to the NPC Financial and Economic Committee on the implementation of monetary policy in 2010.

In January 30th, the report on the implementation of China's monetary policy in the fourth quarter of 2010 was released.

In February 9th, the people's Bank of China decided to raise the benchmark interest rate for Renminbi deposits and loans of financial institutions. Among them, the one-year deposit benchmark interest rate increased by 0.25 percentage points from 2.75% to 3%; the one-year loan benchmark interest rate increased by 0.25 percentage points from 5.81% to 6.06%; other benchmark interest rates for interest rates and individual housing provident fund loan rates were adjusted accordingly.

In February 14th, in order to further enrich the variety of foreign exchange market and provide more tools for exchange rate hedging and protection for enterprises and banks, the State Administration of foreign exchange issued the circular on issues related to the exchange of foreign currency options ([2011]8), and approved the China foreign exchange exchange center to carry out RMB foreign exchange options trading in the interbank foreign exchange market.

In February 18th, the people's Bank of China decided to raise the deposit reserve ratio of deposit financial institutions by 0.5 percentage points from February 24, 2011.

In February 22nd, the general office of the people's Bank of China issued the notice on "arranging additional loans for supporting agriculture and supporting financial services in spring drought and drought relief in key areas" (bank office [2011]45), arranging an additional 10 billion yuan for the 8 provinces affected by drought, such as Henan, Shandong and Hebei, and actively encouraging and guiding financial institutions to do their best to provide financial services for drought relief and disaster relief so as to support stable grain production.

In March 18th, the people's Bank of China decided to raise the deposit reserve ratio of deposit financial institutions by 0.5 percentage points from March 25, 2011.

In March 18th, the State Administration of foreign exchange issued the circular on Further Strengthening the management of foreign exchange business (remittance [2011]11), in order to rationally guide cross-border capital flows, prevent illegal capital inflows and safeguard foreign economic and financial security.

In March 25th, the monetary policy committee of the people's Bank of China convened a regular meeting in the first quarter of 2011.

In March 28th, the twentieth regular meeting of the central bank's issuance and payment assessment committee of the people's Bank of China on the reform of rural credit cooperatives of the people's Bank of China decided to pay special bills to the rural credit cooperatives of 19 counties (cities) in 4 provinces (autonomous regions) such as Hainan Province, with a quota of 1 billion 990 million yuan.

In March 31st, the general office of the people's Bank of China issued the notice on "seriously organizing and implementing a certain proportion of new deposits in the legal financial institutions of the county area for the local loan incentive policies and the subsequent monitoring, evaluation, incentive and restraint policies of the rural credit cooperatives" (silver Office issued [2011] 82). From April 1, 2011 to March 31, 2012, the county financial institutions with a certain percentage of newly increased deposits for the local loan policy assessment standards were implemented, and the deposit reserve ratio was 1 percentage points lower than the normal standard of similar financial institutions. 425 rural credit cooperatives and 16 village and town banks in the 425 counties (cities) and the 16 village banks arranged for a certain proportion of new deposits to be used for the subsequent monitoring and evaluation of local bills and special bills were arranged to increase the amount of supporting agriculture and refinancing loans by 20 billion yuan.

In April 6th, the people's Bank of China decided to raise the benchmark interest rate for Renminbi deposits and loans of financial institutions. Among them, the one-year deposit benchmark interest rate increased by 0.25 percentage points, from 3% to 3.25%; the one-year loan benchmark interest rate increased by 0.25 percentage points from 6.06% to 6.31%; other benchmark lending rates and individual housing provident fund loan interest rates were adjusted accordingly.

In April 9th, the announcement of [2011] third of the people's Bank of China put forward specific requirements for the paction management of the national inter-bank bond market. The introduction of major exception trading disclosure system and exception trading pre reporting system is conducive to further standardize the whole country.

In April 14th, the people's Bank of China reported to the NPC Financial and Economic Committee on the implementation of monetary policy in the first quarter of 2011.

In April 15th, the people's Bank of China and the Ministry of Finance jointly issued the Announcement No. [2011] sixth of the people's Bank of China and the Ministry of finance, and put forward specific requirements for the new key period treasury bonds to make the market, so as to further improve the market price discovery mechanism and improve the yield curve of treasury bonds.

In April 17th, the people's Bank of China decided to increase the deposit reserve ratio of deposit financial institutions by 0.5 percentage points from April 21, 2011.

In April 18th, the PBC and the Reserve Bank of New Zealand signed a bilateral currency swap agreement amounting to 25 billion yuan /50 billion New Zealand dollar, which is valid for 3 years and can be renewed by mutual consent.

In April 19th, the people's Bank of China and the Central Bank of the Republic of Uzbekistan signed a bilateral currency swap agreement with an amount of 700 million yuan /1670 billion Uzbekistan Sam, which is valid for 3 years and can be renewed by mutual consent.

In May 3rd, the report on China's monetary policy implementation in the first quarter of 2011 was released.

In May 6th, the people's Bank of China and the Central Bank of Mongolia signed a bilateral currency swap agreement amounting to 5 billion yuan /10 trillion gross, which is valid for 3 years and can be renewed by mutual consent.

In May 12th, the people's Bank of China decided to increase the deposit reserve ratio of deposit financial institutions by 0.5 percentage points from May 18, 2011.

In June 1st, the report on China's regional financial operation in 2010 was released.

In June 13th, the PBC and the State Bank of Republic of Kazakhstan signed a bilateral currency swap agreement with a value of 7 billion yuan /1500 billion, which is valid for 3 years and can be renewed by mutual consent.

In June 14th, the people's Bank of China decided to increase the deposit reserve ratio of deposit financial institutions by 0.5 percentage points from June 20, 2011.

In June 23rd, the people's Bank of China and the Central Bank of Russian Federation signed a new bilateral currency settlement agreement.

After the signing of the agreement, the Sino Russian currency settlement extends from border trade to general trade and expands regional scope.

The agreement stipulates that the subjects of economic activities of the two countries can decide for themselves to settle and pay for goods and services with freely convertible currencies, RMB and rouble.

The agreement will further deepen financial cooperation between China and Russia and promote bilateral trade and investment growth.

On July 1st, the monetary policy committee of the people's Bank of China convened the second quarter regular meeting in 2011.

In July 7th, the people's Bank of China decided to raise the benchmark interest rate for Renminbi deposits and loans of financial institutions.

Among them, the one-year deposit benchmark interest rate increased by 0.25 percentage points, from 3.25% to 3.50%; the one-year loan benchmark interest rate increased by 0.25 percentage points, from 6.31% to 6.56%; other grades of deposit and loan benchmark interest rate and personal housing provident fund loan interest rate adjusted accordingly.

In July 14th, the people's Bank of China reported to the NPC Financial and Economic Committee on the implementation of monetary policy in the first half of 2011.

In July 15th, the people's Bank of China issued the notice on the evaluation of the guiding effect of agro credit policy (silver hair number [2011]181). It clearly started from 2011, the branch of the people's Bank of China carried out an evaluation of the guiding effect of the agricultural credit policy to the county financial institutions, and promoted the financial institutions to better serve the "three rural issues" and strive to improve the guiding effect of agriculture related credit policy.

In July 22nd, the people's Bank of China issued the notice on the evaluation of the guiding effect of credit policies for small and medium-sized enterprises (silver hair [2011]185), clearly starting from 2011, the branch of the people's Bank of China carried out the evaluation on the guiding effect of the credit policies of small and medium-sized enterprises at the provincial level and below the provincial level, and promoted the financial institutions to further improve and enhance the comprehensive financial services level for SMEs, and improve the guiding effect of credit policies for small and medium-sized enterprises.

In August 4th, the people's Bank of China and the industry supervision and Administration Commission jointly issued the notice on "conscientiously doing a good job in the financial services of affordable housing projects such as public rental housing", which made clear and reaffirmed the credit support policy for affordable housing projects such as public rental housing, and urged banking financial institutions to increase credit support for affordable housing projects on the basis of strengthening management and preventing risks. [2011]193

In August 12th, the report on the implementation of China's monetary policy in the second quarter of 2011 was released.

In August 22nd, the people's Bank of China and the five ministries and commissions issued the notice on expanding the RMB settlement area for cross-border trade (silver hair [2011]203), extending the scope of cross-border trade RMB settlement to the whole country.

In August, the State Council approved the issuance of RMB bonds by domestic institutions to Hong Kong for a total of 50 billion yuan, of which 25 billion yuan was issued by domestic financial institutions and 25 billion yuan was issued by domestic non-financial enterprises.

In September 14th, in order to facilitate the development of RMB rouble pactions in the interbank currency exchange between Moscow and Russia, the people's Bank of China issued the notice on the issue of RMB clearing of the ruble paction in the interbank currency exchange between Moscow and Russia (silver hair [2011] 222), allowing the Russian Commercial Bank to carry out RMB special accounts in commercial banks in China in the interbank currency exchange of Moscow, which is specially used for RMB clearing of RMB's pactions on rouble pactions.

On September 28th, the monetary policy committee of the people's Bank of China convened the third quarter regular meeting in 2011.

In October 12th, the people's Bank of China reported to the NPC Financial and Economic Committee on the implementation of monetary policy in the first three quarters of 2011.

In October 14th, the people's Bank of China issued the "measures for the management of RMB settlement business of foreign direct investment" (announcement by the people's Bank of China [2011] twenty-third), making it clear that banks can handle RMB settlement business for foreign investors in accordance with relevant regulations.

In October 26th, the people's Bank of China and the ROK central bank renewed the bilateral swap agreement between China and South Korea. The exchange scale expanded from the original 180 billion yuan /38 trillion won to 360 billion yuan /64 trillion won, which is valid for 3 years and can be extended by mutual consent.

In October 26th, the people's Bank of China issued the "guiding opinions on RMB loans for overseas projects of domestic banking financial institutions" (silver hair [2011]255), which clearly stipulates the domestic banks' RMB loan business for overseas projects, and helps to standardize and promote the development of related businesses.

In November 16th, the report on the implementation of China's monetary policy in the third quarter of 2011 was released.

In November 22nd, the people's Bank of China and the Hongkong Monetary Authority (HKMA) renewed the currency swap agreement. The exchange scale expanded from the original 200 billion yuan /2270 billion Hong Kong dollar to 400 billion yuan /4900 billion Hong Kong dollars, which is valid for 3 years and can be extended by mutual consent.

In November 25th, the twenty-first regular meeting of the central bank's issuance and payment assessment committee of the Central Bank of the people's Bank of China on the reform of rural credit cooperatives of the people's Bank of China decided to pay special bills to the rural credit cooperatives of 11 counties (cities) and other 11 counties in Liaoyang Province, such as Liaoning Province, with a quota of 1 billion 84 million yuan.

In November 30th, the people's Bank of China decided to reduce the deposit reserve ratio of deposit financial institutions by 0.5 percentage points from December 5, 2011.

In November, four provinces (municipalities) launched pilot projects for local governments to issue bonds voluntarily.

The governments of Shanghai, Guangdong, Zhejiang and Shenzhen issued bonds 7 billion 100 million yuan, 6 billion 900 million yuan, 6 billion 700 million yuan and 2 billion 200 million yuan respectively in the interbank market.

In December 16th, the China Securities Regulatory Commission, the people's Bank of China and the State Administration of Foreign Exchange jointly issued the pilot measures for the domestic securities investment of RMB qualified foreign institutional investors of fund management companies and securities companies (the seventy-sixth order of the State Administration of foreign exchange of the people's Bank of China, the China Securities Regulatory Commission), allowing Hongkong subsidiaries of domestic fund management companies and securities companies as experimental institutions to use their renminbi funds raised in Hongkong to carry out domestic securities investment business within the approved amount of RMB investment.

In December 19th, Yunnan launched regional pactions in the Thai baht interbank market.

In December 22nd, the people's Bank of China signed a scale of 70 billion yuan with the Bank of Thailand.

In December 23rd, the people's Bank of China and the State Bank of Pakistan signed a bilateral currency swap agreement with a scale of 10 billion yuan /1400 billion rupees, which is valid for 3 years and can be renewed by mutual consent.

In December 27th, the five ministries and commissions such as the people's Bank of China jointly issued the notice on strengthening the management of gold exchange or trading platform for gold business (silver hair [2011]301). It is clear that except for the Shanghai gold exchange and the Shanghai futures exchange, no other place, institution or individual may establish a gold exchange (trading center) or establish a gold trading platform in other trading places (trading centers).

Banking financial institutions should stop providing intermediary services such as opening accounts, trusteeship, fund remittance, agent buying and selling, and investment consultation for illegal gold exchange or gold trading platform.

On December 28th, the monetary policy committee of the people's Bank of China convened the fourth quarter regular meeting in 2011.

In December 31st, the people's Bank of China issued the notice on matters relating to the implementation of the pilot measures for the domestic securities investment of RMB qualified foreign institutional investors by fund management companies and securities companies (silver hair [2011]321), and further standardized the accounts management, funds exchange and access, asset allocation, interbank bond market investment and information reporting of the pilot institutions.