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Fresh Supply.doc
Fresh Supply
With Microscene’s new tech ser- vice, when planning a family holiday, travelers can choose hotels, contact tourist attractions and even order umbrella-garnished drinks delivered to their exact location on the beach by zooming around panoramic shots of the area on their cell phones and simply touching a spot on the screen. At the same time, data about their preferences are collected and analyzed to help provide better services and develop more business potential for local hotels, tourist sites and government tourism agencies. Tiago Tan co-founded Microscene in Beijing three months ago. He told NewsChina that his company is the first in China to integrate all these services and resources, and he plans to double its staff to about 60 people in early 2016 to deal with its fast-growing business.
While Tan expands his startup in the new year to bring in more yuan, China’s currency itself will be undergoing something new. On November 30, 2015, the International Monetary Fund (IMF) announced the decision to include the yuan in the Special Drawing Rights (SDR) basket of reserve currencies, a supplement to the official foreign exchange reserves held by IMF members. This means that the IMF has endorsed the yuan’s position as a new option for official foreign exchange reserves for its 188 member economies. The 10.92 percent share of the yuan, effective October 1, 2016, will be the thirdlargest in the basket, above the Japanese yen and pound sterling and below the US dollar and euro. The addition of the yuan will be the first change to basket currencies since the euro replaced the German mark and French franc in 1999.
The yuan’s inclusion is widely viewed as an important symbolic gesture. Both the IMF and the People’s Bank of China (PBOC), China’s central bank, highlighted in their statements and press conferences that the inclusion of the yuan in the basket is a “recognition” of China’s economic growth and past reform, and that their expectations for t
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