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As a symbol of longevity, traditionally the Chinese believed coral to represent an "iron tree" (tieshu) growing under the sea and blossoming only once every 100 years. Coral is also a symbol of official promotion; a red coral button pinned to the hat was the official insignia of a high-ranking official in the imperial court.

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Renminbi marks new trading regime with fall to 11-month low

18 March, 2014

An excellent short view video from the Financial Times on the PBoC’s intervention in the¬†foreign exchange¬†markets: http://video.ft.com/v/3352377484001

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