Video | Agriculture | Confidence | Economy | Energy | Employment | Finance | Media | Property | RBNZ | Science | SOEs | Tax | Technology | Telecoms | Tourism | Transport | Search

 


People’s Bank of China Deputy Governor to Lecture at UC

People’s Bank of China deputy governor to give public lecture at UC


February 21, 2014

Hu Xiaolian, a deputy governor of the People’s Bank of China, will give a public lecture on Monetary Policy in China: Past, Present and Future at the University of Canterbury (UC) on Tuesday, February 25.


Hu Xiaolian will talk to academics, UC staff and students, invited guests and members of the public at 11.45 am in the James Hight building’s Undercroft.


She is in charge of monetary policy at the People’s Bank of China and her visit to campus comes at an interesting time. China overtook Australia as New Zealand’s largest trading partner.


In the first quarter last year, the value of goods and services traded between China and New Zealand exceeded the sum of imports from and exports to Australia.


UC Associate Professor Alfred Guender says six years ago China ranked as the third most important trading partner. This change is remarkable and underscores the growing importance of trade relations between Asia’s new powerhouse and New Zealand, he says.


``Yet, when it comes to monetary policy, the general public in New Zealand knows very little about China’s monetary policy goals, strategies and implementation. A change in the tune of monetary policy in China does not grab headlines in the financial press to the same extent as in the United States or in Australia.


``Hu Xiaolian is likely to emphasise that China’s monetary policy has evolved gradually over time. Initially, guided by an export-led development strategy, the focus of monetary policy rested squarely on the exchange rate vis-à-vis the United States dollar.


``For many years China rigidly pegged its exchange rate to the dollar at a level which enabled it to gain a foothold and later expand its share of exports in world markets. Indeed, in the early years of the new millennium, China began to run staggering current account surpluses which peaked in 2007 at more than 10 percent of GDP.

``The persistent current account surpluses with the United States have made China the largest holder of US Treasury securities and thus the largest creditor of the United States.


``In recent years, China’s monetary policy focus has shifted slowly from an exclusive external objective – keeping the exchange rate vis-à-vis the US dollar pegged – to an internal objective which accords greater importance to keeping inflation low and stable.


``Her talk will provide the academic community and the people of Canterbury with the opportunity to listen to a practitioner’s views on the evolving character of monetary policy in China,’’ Professor Guender says.


Hu Xiaolian has been ranked by Wall Street Journal as one of the top women in the world to watch.
In the 1980s, she worked in New Zealand as an intern at the Reserve Bank.


ENDS

© Scoop Media

 
 
 
 
 
Business Headlines | Sci-Tech Headlines

 

Media: Julian Wilcox Leaves Māori TV

Māori Television has confirmed the resignation of Head of News and Production Julian Wilcox. Mr Maxwell acknowledged Mr Wilcox’s significant contribution to Māori Television since joining the organisation in 2004. More>>

ALSO:

Genetics: New Heat Tolerant Cow Developed

Hamilton, New Zealand-based Dairy Solutionz Ltd has led an expert genetics team to develop a new dairy cow breed conditioned to thrive in lower elevation tropical climates and achieve high milk production under heat stress. More>>

Fractals: Thousands More Business Cards Needed To Build Giant Sponge

New Zealand is taking part in a global event this weekend to build a Menger Sponge using 15 million business cards but local organisers say they are thousands of business cards short. More>>

Scoop Business: NZ Net Migration Rises To Annual Record In September

New Zealand’s annual net migration rose to a record in September, beating government forecasts, as the inflow was spurred by student arrivals from India and Kiwis returning home from Australia. More>>

ALSO:

Scoop Business: Fletcher To Close Its Christchurch Insulation Plant, Cut 29 Jobs

Fletcher Building, New Zealand’s largest listed company, will close its Christchurch insulation factory, as it consolidates its Tasman Insulations operations in a “highly competitive market”. More>>

ALSO:

Scoop Business: Novartis Adds Nine New Treatments Under Pharmac Deal

Novartis New Zealand, the local unit of the global pharmaceuticals firm, has added nine new treatments in a far-ranging agreement with government drug buying agency, Pharmac. More>>

ALSO:

Crown Accounts: English Wary On Tax Take, Could Threaten Surplus

Finance Minister Bill English is warning the tax take may come in below forecast in the current financial year, as figures released today confirm it was short by nearly $1 billion in the year to June 30 and English warned of the potential impact of slumping receipts from agricultural exports. More>>

ALSO:

Get More From Scoop

 
 
Standards New Zealand

Standards New Zealand

Mosh Social Media
 
 
 
 
 
 
 
 
Business
Search Scoop  
 
 
Powered by Vodafone
NZ independent news