China and America: Studying the superpower. Trade and recovery: A surplus, but for oil and China. China creció un 10,3% en 2010,Datos macroeconómicos, economía y política - Expansión. Tanto el Producto Interior Bruto (PIB) como el Índice de Precios al Consumo (IPC) crecieron por encima de lo previsto por el Gobierno chino, que intenta evitar el sobrecalentamiento de la economía y además se había marcado como objetivo el 3 por ciento para el IPC. Los datos fueron presentados hoy por la Oficina Nacional de Estadísticas. Las ventas al detalle en el 2010 crecieron el 18,4 por ciento hasta los 2,3 billones de dólares y el valor industrial añadido el 15,7 por ciento. En el último trimestre de 2010, el PIB había aumentado el 9,8 por ciento respecto al mismo mes de 2009 y mientras que en el tercer trimestre lo hizo en el 9,6 por ciento. El 10,3 por ciento de crecimiento económico de China en 2010 representó un aumento del 1,1 por ciento respecto al de 2009 (el 9,2 por ciento) y es superior a las predicciones mayoritarias de los economistas que lo situaban en el 10,1 por ciento.
ICBC to Double its European Presence. Bank of China to Allow Americans to Trade in Renminbi. Alexander F. Yuan/Associated PressA Bank of China branch in Beijing. Call it liberalization by a thousand cuts. The Bank of China, one of the country’s main state-owned lenders, is now allowing American firms to trade in renminbi, another step in China’s effort to position the the renminbi on the world stage. In July, China started a renminbi settlement system for cross-border trade in Hong Kong, but it placed limits on how much currency could be exchanged. Currency trading in the renminbi was already possible at other banks, but the move by a state-owned lender signals a shift in official policy. The Chinese central bank bowed to international pressure last summer and agreed to make its currency more flexible; the renminbi is now allowed to move as much as 0.5 percent each day. “China sees the global financial system as too U.S. Now, he said, the country is trying to take a step away from that dependence.
China Currency Reserves Rise to Record $2.85 Trillion. China’s foreign-exchange reserves climbed by a record last quarter and lending exceeded the government’s annual target, increasing pressure on the central bank to tighten policies to rein in liquidity and inflation. The currency holdings, reported by the central bank on its website today, rose by $199 billion to $2.85 trillion, the biggest quarterly gain since Bloomberg data began in 1996.
Full- year yuan-denominated lending of 7.95 trillion yuan ($1.2 trillion) compared with a target of 7.5 trillion yuan. The central bank may need to raise benchmark interest rates, boost reserve requirements for lenders and allow faster yuan appreciation, economists from Standard Chartered Plc and Credit Agricole CIB said. Policy makers may also experiment with more ways of encouraging outflows of capital, after expanding a program for exporters to park revenue overseas and letting some citizens invest directly abroad. Yan forecasts three interest-rate increases this year with the first this quarter. News: China Launches Yuan Trading In U.S.