The announcement by the PBOC on 12 June 2010 granting renewed flexibility for the renminbi puts the focus squarely back on the Chinese front in asset markets. Whats the motivation and backdrop behind the move? What does the new regime entail and how is its current guise different from the form of flexibility witnessed after the Jul 2005 de-peg? We look at the FX implications of this move, specifically examining past experience against theoretical expectations”. Beyond, the FX implications, the CNY story is only one facet of China’s restructuring and (ongoing) growing influence for Asia and we attempt to chart the course ahead.
5:45 - 6:00pm Arrival of Guests and Light Reception
6:00 - 6:10pm Opening Remarks by Nick Fang, Director, SIIA
6:10 - 6:50pm Remarks by Emmanuel Ng, Currency Economist for Treasury Research & Strategy, OCBC Bank
6:50 - 7:20pm Question and Answers
7:20 - 7:30pm Closing Remarks by Nick Fang, Director, SIIA
Emmanuel Ng joined OCBC in March 2006 as a currency economist for Treasury Research & Strategy. He is responsible for currency research and strategy for the G3 as well as for Asian currencies. His views are cited in the local media, international news wires (Reuters, Bloomberg, Dow Jones) as well as on televised media including Channel News Asia, Bloomberg, and CNBC.
Prior to joining OCBC, Emmanuel was a Sovereign/FX Strategist at ABN AMRO for Asia ex Japan from August 2003. Prior to that, he was the Asean Economist for the Bank of Tokyo–Mitsubishi from 1997. He started his career in 1994 as an Economist at the Development Bank of Singapore. Emmanuel received his M.A. (Econs) from the University of Alberta in 1994 and his B.A. (Hons) with an economics major from the University of Calgary in 1992.