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Trade deals in RMB coast on better ecosystem By Jiang Xueqing | China Daily | Updated: 2021-06-23 08:25 Share CLOSE A worker counts Chinese currency renminbi at a bank in Linyi, East China s Shandong province. [Photo/Xinhua]
Cross-border trade settlements in renminbi have grown noticeably since the beginning of this year, thanks to the improvement of the ecosystem promoting the use of the Chinese currency overseas, a banker said.
In the first quarter of this year, the Standard Chartered Renminbi Globalisation Index (RGI), a measure of international renminbi usage that is computed on a monthly basis, rose 13 percent from the previous quarter, recording the biggest quarterly rise in five-and-a-half years. The increase followed a 10.4 percent growth in RGI for the full year 2020.
Trade deals in RMB coast on better ecosystem-Eastday eastday.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from eastday.com Daily Mail and Mail on Sunday newspapers.
Abstract
Using a large sample of China’s listed firms between 2005 and 2015, we find that domestic mutual funds have a positive effect on the CEO pay-performance relationship, and this effect becomes stronger when their ownership is higher and closer to the controlling shareholder’s ownership. This effect is stronger in non-state-owned enterprises (non-SOEs), firms facing weaker industry competition incentives, and firms located in more developed regions. However, Qualified Foreign Institutional Investors (QFIIs) do not have such an influence. Overall, our study contends that the effectiveness of institutional investors’ monitoring role is subject to their identity, controlling shareholders and institutional environments.
Greenberg Traurig's China Newsletter update for winter 2021 covering QFII and RQFII provisions, QFII/RQFII Rules, Foreign Direct Investment, Drug Registration administrative measures, MAH systems and more.