Contents

China

RMB Hedging Forex Risk by Herbert Poenisch

China Should not Interfere at the Foreign Exchange Reserve Redline by Tu Yonghong

Trumping the Renminbi by Andrew Sheng and Xiao Geng

Two Important Trends in Banking Supervision after the Global Financial Crisis and Practices in China by Li Wenhong

New Direction of Bond Market by Steve Wang, Wu Qiong and Zoe Chuang

Xiongan New Area Announced by Xia Le and Carlos Casanova

Controlling the Looming Economic Risks by Song Ke

Outside Investors Play An Essential Role by Qu Qiang

Asia

Putting Asia’s Savings to Work in Asia by Andrew Sheng and Xiao Geng

Asia to Contribute 60% of the Global Growth by David Mann

Gold’s New Frontiers in Asia by Shaokai Fan

Monetary Policy

It’s Time to Dump Most Central Banks by Steve H. Hanke

Central Banks in an Unconventional Era by John Mourmouras

Inflation: A Chance for Central Bankers by Miroslav Singer

New Tools Allow for Shrewder Chinese Monetary Policy by Xia Le

Working Paper

Indexing Mergers and Acquisitions by Gang Jianhua, Guo Jie and Li Xi

Environmental Policy, Firm Dynamics and Wage Inequality in Developing Countries by Chi-Chur Chao, Mong Shan Ee, Xiangbo Liu and Eden S. H. Yu

Urbanization, Economic Development and Environmental Change by Li Shushu and Ma Yong

The Monetary Root of Financialization by Luo Yu

IMI News