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| The Evolution of Australian Foreign Exchange Derivatives Markets and Its Reference to China |
| CHEN Rong ZHENG Zhenlong LIU Chen |
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Abstract How to develop onshore Renminbi dervatives market under the managed-floating exchange rate system and capital control is an important issue for China nowadays. There are a number of similarities between the current Chinese foreign exchange markets and the Australian markets in the early 1980s. We discuss the evolution of Australian foreign exchange derivatives markets and find that the appearance and development of Australian onshore NDF market was a special story that could be used for our reference. We think currently onshore Renminbi NDF market is a practical choice to develop Renminbi derivatives markets further.
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Received: 18 November 2008
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Corresponding Authors:
ZHENG Zhenlong
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2009, Vol. 1 
浙公网安备 33011802000512号