hsbc.co.uk; Zhou Xiaochuan: Will continue prudent monetary policy

hsbc.co.uk report: on July 15, Bank of China (PBOC) Governor Zhou Xiaochuan said to continue to implement prudent monetary policy, maintain a reasonable amount of credit, create a favorable financial environment for the development of small and micro enterprises. Push forward interest rate reform steadily, develop the basic effect of market in resource allocation in greater degree, and improve the credit availability of small and micro enterprises.

On the small and micro enterprise financial services experience sharing video and telephone conference, Zhou Xiaochuan said to balance the relationship between steady growth, structural adjustment, control inflation and risk prevention. Integrated use of quantity, price and other monetary policy tools, give full play to the guiding role of re-lending, rediscount and differentiated reserve dynamic adjustment mechanism. Continue to implement the low deposit reserve ratio for small and medium financial institutions, revitalize the stock and make good use of incremental, increase the capital source of small micro-enterprise credit funding.

Zhou Xiaochuan said: "In the premise of risk control, we should promote the development of convention and securitization development of credit assets. Guide financial institutions to invest small and micro enterprises with revitalized capital. Accelerate the development of the inter-bank bond market, support qualified small and micro enterprises to publish the debt financing instruments. In addition, to further promote the development of private financing norms. Play a role of private financing in expanding of financing sources of small and micro enterprises."

 In early Monday, CNY goes slightly higher. The previously announced Chinese second quarter GDP data shows that Chinese economic growth is easing off further.

The latest USD/CNY is at CNY ￥6.1388; last Friday the end closed at CNY ￥6.1375. Today's middle price is at  CNY ￥6.1663,last Friday's at CNY ￥6.1631. Although USD drops in the oversea market, today's middle price is set high. The dollar index in Wall Street Journal was at 74.9596 on last Friday end, 75.0008 for Thursday. China's GDP of the second quarter has risen 7.5%, which is accordance with the expectation but is slightly lower than the first quarter's 7.9 %, and is also lower than the fourth quarter in 2012.

A trader of a foreign bank in Beijing said that the impetus of CNY appreciation was weakening. CNY now is waiting for the certainty of domestic economic trend and the decision maker's purpose. In offshore market, one-period USD/CNY non-deliverable forwards move up to CNY ￥6.2918/6.2850. and on last Friday ends at CNY ￥6.2858/6.2895.hsbc.co.uk.

hsbc.co.uk：RMB trend analysis July 15, 2013

RMB against the U.S. dollar continued drop since last Friday, because investors reduce long position holdings of RMB in this week, before China's economic data in the second quarter published. hsbc.co.uk analyze that China's economy slows further. In enquiry trading market, U.S. dollar against the RMB closed at 6.1375 yuan, higher than last Thursday's closing price of 6.1352 yuan. U.S. dollar intraday fluctuate within a range in the RMB 6.1368 to 6.1423 yuan.

Despite the U.S. dollar's weakness overnight, China's central bank sets the U.S. dollar against the RMB central parity rate at 6.1631 yuan, higher than last Thursday's 6.1599 yuan. In offshore market, 1 year U.S. dollar against the RMB non-deliverable option forward by rise from last Thursday's close order of RMB 6.2815/6.2845 to RMB 6.2858/6.2895. hsbc.co.uk implies that market will expected to fall by 2.3% next year in RMB against the U.S. dollar. In Hong Kong's offshore RMB market, last Friday U.S. dollar against the RMB at 6.1420 yuan, higher than last Thursday's close order at 6.1390 yuan.

hsbc.co.uk: China GDP Growth To 7.5% in The Second Quarter

China expanded at an impressive 7.5 percent rate in the second quarter, with market expectation growth to 7.5%.

National Bureau of Statistics(NBS) of China announced in Monday, its GDP in the second quarter rose to 7.5% from a year earlier, and the growth is slower than the 7.7% of the first season.

The economist reached 7.5% forecast in the hsbc.co.uk survey.

The NBS expressed after the seasonal adjustment, China's economy in the second quarter is 1.7% higher than that of the first quarter.

China's industrial added value inJune is 8.9% higher from a year eariler, with market expectation growth to 9.1%.

China's gross retail sales rose 13.3% compared with the same period last year, ringing up 1.26%./Mei Zhu

The analyst of hsbc.co.uk said:GMT ( Greenwich mean time ) 0200, China's second-quarter gross domestic product (GDP) data announced would affect the currency movements. Dollar sentiment on the rise, the bank of England's loose monetary policy position, and the pound selling caused by EUR/GBP on the rise resulted in pressure-bearing of GBP/USD. The UK Rightmove released the home price index which went up by 0.3%, average asking price for homes

rose to a new record 253,658 pounds so that the pound sentiment is remitted. The warming risk appetite among investors would restrain rate slump.

Daily oscillators are still expected to rise. Stochastics in oversold zone rose. MACD histogram below the zero line is contracting, while the K-line chart went inside last Friday. Support level lies at 1.5074 dollars(low level of Last Friday). They would drift down to 1.4997(low level of Last Thursday) if lost. Then we should pay attention to 1.4968 dollars(hour chart), 1.4843 dollars(low level of Last Wednesday), 1.4812 dollars(the Lowest level on three years reached in last Tuesday), 1.4686 dollars( the low level in June 22, 2010) and 1.4549 dollars( the low level in June 14, 2010). Resistance lied at 1.5187 dollars( the high level of last Friday), then it was looked back to 1.5222 dollars( the high level of last Thursday). It lied at 1.5302 dollars( the high level of July 3) if been broken, then it was looked back to 1.5346( the high level of July 27), 1.5440 dollars ( the high level of July 26), and 1.5476 dollars ( the high level of July 25). /hsbc.co.uk bank /Mei Zhu

hsbc.co.uk: Britain Rightmove House Price Index Annual Rises in July

British real estate website Rightmove arises the expectation of house price growth in 2013 from 2 percent to 4 percent.

The annual rate of Rightmove house price index in July rises 4.8 percent.

The rate per mensem of Rightmove house price index in July rises 0.3 percent./Zhangyan

Hsbc. co.uk provides customers a range of electronic payment services that are quick and easy to use. So it is important for people to know what types of international money transfer services are available.

The first one is Global Transfers

    If you're an hsbc.co.uk premier or advance customer with accounts in one of over 30 countriesopens an overlay window, this is the quickest and most cost effective way to transfer money.

    The second one is SEPA Payments

    The Single Euro Payment Area (SEPA) is designed to create a convenient single market for Euro payments within Europe. SEPA's reach extends to over 32 countries and territories.

    Then it is the World pay. World pay is a method of sending amounts up to the currency equivalent of ￡2,000 in local currency directly to the overseas bank account of the beneficiary, in any of 21 countries.

    The last one is Priority Payments. This could be an ideal choice if you are sending money abroad and the destination country is not eligible for World pay or SEPA payments.

    After understanding these four transfers you may ask how to make an international payment? It is quite easy.

    If you are a registered for personal Internet banking, all you need to do is:

     1. Log on

     2. Select the account from which you want to transfer money

     3. Select 'Send Money Overseas' and enter the required payment details

     4. Carefully check all the payment details - including the beneficiary details - as you won't be able to correct them once you have  confirmed the payment

     5. Generate a transaction code on your Secure Key and enter it when prompted

     6. Confirm your payment. The exchange rate will expire after 90 seconds, but you can then refresh for a new one.

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