The currency gained 0.14 percent to 7.3867 against the dollar as of 12:54 p.m. in Shanghai, from yesterday’s close of 7.3969, according to the China Foreign Exchange Trade System. The yuan rose 0.1 percent to 10.9836 per euro.
Forwards contracts in the currency show traders are more bullish about yuan gains over the next 12 months, betting on a 9.5 percent appreciation to 6.7485.
China’s central bank Governor Zhou Xiaochuan said on Nov. 18 that China would consider widening the currency’s trading band “if necessary,” though he gave no timeframe and said he’s comfortable with current policy.
“The day of reckoning for the yuan is getting closer,” said Hong Liang, an economist at Goldman Sachs Group Inc. in Hong Kong, who expects the yuan will soon be allowed to trade more freely and predicts it will reach 6.78 per dollar in a year.
Wang is a prolific business-oriented writer of emerging and disruptive technologies. He is known for insightful articles that combine business and technical analysis that catches the attention of the general public and is also useful for those in the industries. He is the sole author and writer of nextbigfuture.com
, the top online science blog. He is also involved in angel investing and raising funds for breakthrough technology startup companies.
He gave the recent keynote presentation at Monte Jade event with a talk entitled the Future for You. He gave an annual update on molecular nanotechnology at Singularity University on nanotechnology, gave a TEDX talk on energy, and advises USC ASTE 527 (advanced space projects program). He has been interviewed for radio, professional organizations. podcasts and corporate events. He was recently interviewed by the radio program Steel on Steel on satellites and high altitude balloons that will track all movement in many parts of the USA.
He fundraises for various high impact technology companies and has worked in computer technology, insurance, healthcare and with corporate finance.
He has substantial familiarity with a broad range of breakthrough technologies like age reversal and antiaging, quantum computers, artificial intelligence, ocean tech, agtech, nuclear fission, advanced nuclear fission, space propulsion, satellites, imaging, molecular nanotechnology, biotechnology, medicine, blockchain, crypto and many other areas.