Exam practiceAccording to The Economist, China's economy is expected to overtake the USA's by asearly as 2018. Multinational companies hoping to make the most of this opportunityhave been investing in China via the Shanghai Stock Exchange. Commercial bankssuch as the Industrial and Commercial Bank of China (ICBC) and the Hong Kong andShanghai Banking Corporation (HSBC) also have an increasingly important role in thedevelopment of the Chinese economy. Nevertheless, the trading of the renminbi,China's official currency, is still closely monitored by the People's Bank of China- thecentral bank.1 Describe the functions of a commercial bank such as ICBC or HSBC.2 Explain the key functions of central banks such as the People's Bank of China, [4]3 Explain how the Shanghai Stock Exchange can play a key role in the economicdevelopment of the Chinese economy.[4][4]auestions

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Describe the functions of a commercial bank such as ICBC or HSBC.

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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