Sa bank tax rejected by upper house
The Bank of China failed to reject China’s bid to end its five-year ban on the bank holding US Treasury bonds after President Xi Jinping signed the measure into law.
Zhang Xiangxiao, the new Chinese President, presented the law, the first of its kind to be put into effect nationwide, before the upper house of parliament, the National People’s Congress (NPC), on Saturday.
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China will soon set u바카라사이트p a joint account with Japan in its new fiscal policy, but unlike most countries, the country has not decided if China will be allowed to keep its currency reserve at 4% or 5%.
The bank is due to start carrying its notes in Chinese currency in Januapronxary, however the yuan and the two national currencies remain in opposition as Beijing’s officials want to ensure the stability of global markets.
Chinese currency reserves at 4% and 5% have been a subject of controversy for years, with some arguing the reserves are not sufficiently large to act as a hedge against currency shocks.
Last update: Friday, 14 February 2017 KSA 12:14 – GMT 09:14
