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by Xinhua Writer Xu Ke
BEIJING Cheap Kent Bazemore Jersey , Jan. 23 (Xinhua) -- The internationalization process of China's currency has made a new stride forward during the ongoing World Economic Forum annual meeting, with Beijing and Bern inking a deal to expand financial cooperation.
Under the agreement, signed Wednesday in the Swiss ski resort of Davos, China gives Switzerland an 8-billion-U.S.-dollar investment quota under its Qualified Foreign Institutional Investor program, and the two sides plan to open a Chinese bank in Zurich for future RMB clearance.
With China having become a leading economy and trading power Cheap John Collins Jersey , the RMB's cross-border settlement has been surging. Official figures show that the volume shot up from an equivalent of 580 million dollars in 2009 to 1.3 trillion dollars in the first 10 months of 2014.
A report released last November by Belgium-based global payment services company SWIFT ranked the RMB as the seventh payments currency in the world. In 2011 it ranked the 21st.
China is moving steadily along the path of RMB internationalization, following a strategy described as "crossing the river by feeling the stones." So far 12 cities, including Hong Kong, London, Paris and Sydney Cheap Miles Plumlee Jersey , have officially announced the establishment of an offshore RMB center.
The benefits are clear. For Chinese banks, the process provides a strategic opportunity to follow their clients abroad and develop their international payments clearing business.
Chinese companies, especially small- and medium-sized ones, can use the RMB for cross-border trade instead of a foreign currency, thus reducing its foreign exchange costs and risks.
For foreign companies Cheap Taurean Prince Jersey , the process will facilitate their business with more Chinese enterprises, helping increase the overall size of trade, diversify their assets, and hedge against depreciation of one currency.
Analysts described the path of the RMB internationalization as a three-phase process: using the currency first for trade, then for investment and in the longer term as a reserve currency.
The development of the RMB in the first and second stages has grabbed the attention of the financial community worldwide Cheap Ersan Ilyasova Jersey , but some strategic actions are still needed to drive the internationalization process.
More liberal policies and less restrictions are needed to create more transparent and standardized frameworks for RMB payments and investments, so as to foster a more favorable regulatory environment.
Improvement of domestic financial markets also marks a crucial part in the internationalization of the RMB, which means China needs to build a more open and larger financial market with a richer variety of products.
The internationalization of a country's currency keeps pace with the same process of the country's banking system. Given that, the Chinese banks, with five rated as the world's top 20 financial institutions Cheap Tracy Mcgrady Jersey , should consider how to better play their role.
The international usage of the RMB is still in its early days, but in the long run it helps diversify and improve the global reserve system, which is currently dominated by a volatile U.S. dollar.
How many times have you felt blisters on your feet while playing tennis? Or how many times have you felt that you wear out your tennis shoes too often? If your answer to these questions is often, then it is time for you to choose the right tennis shoe for yourself. Though we sometimes refer to tennis shoes as the generic, universal term athletic shoes Cheap Mike Bibby Jersey , it should not be the case. All kinds of sport shoes doesn`t provide the support to play tennis, increases the risk of foot and ankle injuries, and may also inflict damage to the tennis court.
Importance of tennis shoes:
A lot of preparation goes into playing tennis. A player has to indulge long hours of practice to excel in the game. He has to play in different types of courts and most of the stress in taken by the feet of the player. The feet are instrumental while serving the ball and also chasing the ball around the court. The lower part of the body supports the upper when it goes for the various shots. As the feet play a vital role in all this, a good pair of shoes goes a long way and helps the player attain world class maturity in playing tennis.
How to choose the right pair?
There are four criteria that a person should keep in mind while buying shoes. They are fit, durability Cheap Dikembe Mutombo Jersey , breathability and court surface.
Fit Ill fitting shoes are a curse for tennis players. Who can concentrate on game with blisters on feet? When buying your pair keep the following points in mind: feet typically swell after exercise or by the end of the day; tennis socks provide extra cushioning and may require a shoe up to half size larger; as many people have two different feet size, shoe upper against the top of your feet should not be too tight or too loose; shoes should have at least half an inch space between the toes and end of the shoe.
Durability To increase the durability of your pair keep in mind how frequently you play and where you typically wear out your shoes: if the sole wears out fast then choose a shoe with higher end and durable sole; if your pair looses cushion then get a shoe with a robust midsole.
Tennis players often drag their toe while executing shots, especially the serve. Therefore it is crucial for right handed players that the inside toe area of their right shoe has extra protection.
Breathability Excessive running on the court tires your feet. If your feet stay cooler you can play better for longer time. Choose the material of the shoe upper like leather, mesh, synthetic leather or a combination according to your needs. And make sure the upper is designed in a way to vent out heat and moisture and keep your feet cool.
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