Yangzijiang Shipbuilding Hedges for Appreciation
According to a report from Bloomberg, Yangzijiang Shipbuilding Holdings Ltd., China’s third-largest shipyard outside state control, is basing currency-hedging on the yuan gaining three percent a year in expectation the government will prevent rises above that pace. The shipyard, which books all of its orders in dollars, is reflecting confidence that China will resist U.S.-led pressure to quicken yuan gains.
(Source: Bloomberg)