By Samira Jassim/TechCrunch EditorA few months ago, the Chinese government announced it was banning foreign exchange trading, effectively ending a years-long boom in Chinese currency trades.
But in an era when the Chinese economy is in the midst of a massive stimulus plan, this has sparked a backlash among investors.
The country has struggled to make up lost ground in the global financial market in the past two years, as the yuan’s devaluation and a global trade war with the United States have led to a global slowdown.
While the yuan remains the most traded foreign currency in the world, its share of the global foreign exchange market has shrunk from 19.5% in June 2018 to just 6.9% in October.
This has prompted a number of Chinese banks to begin looking abroad for foreign exchange revenue.
These include several in the United Kingdom and Australia, and a number in the European Union and Canada.
The rise of the crypto-currency market has given Chinese banks an opportunity to monetize a growing share of foreign exchange markets in a country where the share of total foreign exchange turnover has plunged to just 8.9%.
With the global economy in free fall and China struggling to deal with a massive debt load, it is not surprising that investors are turning their attention to the emerging markets.
In the last six months, China’s foreign exchange revenues have gone from just 1.5 times revenue to nearly 3 times revenue.
This includes foreign exchange sales that are not included in the Chinese central bank’s gross domestic product.
This means China’s gross financial product has grown by just 4% since the start of the year, which has been far below the global average of 10%.
The problem is that China’s central bank, the People’s Bank of China, is not very efficient when it comes to monetizing foreign exchange.
Instead, it seems to be trying to manipulate foreign exchange prices to make it seem as though it is being sold cheaper than it actually is.
For example, during the first half of 2018, China was trading around $US1.20/ounce.
By the end of October, it was trading at $US3.13/ounce and now it is trading at a price of $US4.72/ounce (for a total of $3.94/ounce).
This is far above the global price of around $3/ounce in 2018.
This is a major problem for foreign exchanges that do not have the ability to keep their trading prices in line with the central bank.
China has also been taking a lot of heat for the fact that it has been selling the Chinese yuan to the United Arab Emirates (UAE) in order to increase its foreign exchange reserves.
This may have had some positive consequences, but in reality it has led to the yuan to fall to a low point of around US$1.50/ounce, and the price of the UAE dollar has now plummeted to just over US$US1/ounce as of October.
These fluctuations in the exchange rate have led foreign exchanges to sell their foreign exchange contracts to the Chinese banks.
As a result, the financial sector has been severely impacted by this move.
The banks that are now buying foreign exchange from China have to buy foreign exchange at a much higher rate than the price they were able to sell in 2018 because of the price correction that China imposed.
This will ultimately affect the long-term value of the yuan.
In the past, Chinese banks have been able to keep the yuan relatively stable by selling the yuan in a market-driven fashion, where the yuan would fall as it went up.
But now, the yuan is no longer able to stay stable as it has lost all of its purchasing power.
With this, Chinese investors have lost a significant portion of their foreign currency reserves, which is hurting the economy and the country.
The Chinese government has been very cautious in the way it has managed the situation.
However, in an environment of massive stimulus, it appears that China is starting to take some of the heat for this problem.
This might also explain why the Chinese Central Bank has been so cautious in monetizing its foreign currency holdings.
In a recent interview with Reuters, China Deputy Governor Wang Yi said that the central government had already put about 2 trillion yuan ($33.2 trillion) into foreign exchange purchases during the last 12 months.
He added that the money has been used for other purposes.
The money has also come from the foreign currency denominated in the U.S. dollar.
However, there is still a lot that needs to be done.
In order to make the yuan stable, the central Chinese government needs to reduce the supply of foreign currency.
The yuan needs to stop devaluing and the government needs a way to prevent it from falling to a lower level, as is the case today.
China needs to do all of this to reduce its own financial risks, which include the massive debt burden that the Chinese state still has to carry.
This would also help boost the economy