RBA opens a rep office in China

I had pointed how closely Aussie fortunes are linked to China.

I just noted, Reserve Bank Of Australia opened its representative office in China! It will be headed by an Aussie how speaks Mandarin well and has been tracking Chinese economy:

The Reserve Bank of Australia is establishing representation in China. An office, located within the Australian Embassy in Beijing, will begin operations in mid October and will assist in the Bank’s ongoing monitoring of economic and financial conditions in China. It will also help build relationships with various government agencies and private entities.

The office will be headed by Mr Ivan Roberts. Mr Roberts speaks Mandarin and has authored a number of papers on the Chinese economy. He is currently a senior economist in the Asian Economies Research Unit and has had a number of other roles in the Bank’s Economic Group.

You see mainly banks doing such stuff.

Though, it is not unique to RBA. Even Indonesia Central Bank has rep offices in NY, London, Singapore and Tokyo. Even PBC opened its South Pacific Rep office in Sydney! The Thailand Central Bank plans to open office in China.

It is interesting how central banks are increasingly attempting to go global and opening offices in key locations to gauge the developments closely. Keeping ears close to the ground as they say…

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