25th June - 8th July

• Published 09 Jul 2009

China takes steps to internationalise renminbi, sovereign wealth fund regains confidence, Fiat to start making cars in China again, and power output increases. Meanwhile, ethnic riots continue to wreak havoc in Xinjiang.

Renminbi offshore trade pilot scheme launchedOn July 2, China took another step towards internationalising its currency and reducing reliance on the US dollar with the announcement of new rules to allow select companies to invoice and settle trade transactions in renminbi. The regulations released by the People's Bank of China, the central bank, will allow approved companies to settle transactions through financial institutions in five cities in southern China, which include Shanghai, Shenzhen, Guangzhou, Dongguan and Zhuhai.

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Other Articles on this Issue

• The Big Call

  Inflation to return, but gradually

  Inflation to return, but gradually

• Macro View

  Bestride the liquidity watershed

• Forbidden City

  Farewell to easy, easy money

• The Best of Chinese Commentators

  The magic 3,000

  One small step for the renminbi?

• Consumer China

  Telecoms: Divergent fortunes

  Cable TV: The Writing on the Wall?

  China Unicom

  China Telecom

  China Mobile

• In Depth

  Harnessing China's domestic demand

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