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  • September 21, 2014
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  1. Yuan deposit services off to sluggish start

    Posted Feb 28th 2004, 12:00am by Enoch Yiu, Sandy Li

    ... Enoch Yiu, Kelvin Wong and Sandy Li Yuan banknotes are apparently comfortable to sleep on. With Hong Kong banks now offering yuan deposit services, Hong Kong residents finally have a place ... Hong Kong dollars into yuan to take advantage of the higher interest rate [for yuan deposits],' said one Liu Chong Hing Bank executive, who asked not to be identified. 'But under ...

  2. Low-end delta factories gain reprieve on deposits

    Posted Sep 06th 2007, 12:00am by Denise Tsang, Enoch Yiu

    ... to pay cash deposits of up to 100 per cent when buying 1,853 types of raw materials such as plastics and metals. Under the revamped rule, they will be allowed to settle the deposit with a letter of credit, bank guarantee, or other unspecified payment instead of cash. The deposits, although refundable, would have meant locking up cash resources- a severe imposition for many small businesses. ...

  3. SMEs kept on hold as big banks grind through tasks in slow gear

    Posted Dec 08th 2011, 12:00am

    ... make a deposit, they are unable to access funds for weeks because of no chequebooks or online banking access. The banking-support standards for SMEs have clearly slipped in Hong Kong. A major ... standards of basic operational support from major banks in the city. Just to set some perspective, I can in one day, thanks to the off-the-shelf system in Hong Kong, set up a company in this special ...

  4. HK banks seek more business with yuan

    Posted Jul 29th 2005, 12:00am by Staff Reporter

    ... Maria Chan Hong Kong banks hope to increase their yuan business product line-up, including bonds issues and insurance policies. But a first step in expanding yuan financial services ... Seng Economic Monthly. Extending existing yuan deposits to these companies would, for instance, allow them to settle all their cross-border transactions in Hong Kong, which would help reduce ...

  5. Yuan trade boost on the cards for banks

    Posted Sep 06th 2005, 12:00am by Ambrose Leung

    ... when he met Mr Liao. A spokeswoman for the Chief Executive's Office said policy address contents were confidential. Hong Kong banks began offering four types of yuan service- deposit ... can, however, help banks to collect a larger yuan deposit base and that would generate higher income for banks.' ...

  6. Hong Kong aims to be The One for the yuan

    Posted Sep 24th 2011, 12:00am

    ... As the volume of yuan increases in local banks' deposit base mix, it will boost their balance sheets. 'When more international trade is conducted in yuan, more overseas banks will maintain offshore yuan accounts in Hong Kong and stimulate yuan deposits,' Fung notes. 'Overseas central banks may also hold offshore yuan. That is how an offshore yuan centre is established. When ...

  7. A lift for HK banks from Li's measures

    Posted Sep 05th 2011, 12:00am

    ... the mainland currency would have immediate effects on banks as it helps utilise yuan that has accumulated in the city. Hong Kong had 553.6 billion in yuan deposits by the end of June, up 517 per cent ... Lulu Chen lulu.chen@scmp.com At least four measures announced by Vice-Premier Li Keqiang during his visit to Hong Kong last month should help banks accelerate their business, bankers said. ...

  8. Banks offer to help HK factory owners

    Posted Aug 04th 2007, 12:00am by Staff Reporter

    ... of goods that have export restrictions. Exporters of the restricted products will have to pay deposits on their raw materials into the Bank of China before they can continue their business. Hong ... Ng Kang-chung Lenders will work with companies to adjust to mainland trade policy changes Local banks have promised to help Hong Kong companies with investments in Guangdong factories ...

  9. Authority acts to protect investors

    Posted Sep 17th 2005, 12:00am by Gary Cheung

    ... Gary Cheung The Hong Kong Monetary Authority yesterday appointed an accountant to conserve the assets of a deposit-taking company in the city that is owned by Banco Delta Asia. The authority has acted to provide protection to depositors after the bank was accused by the US Department of the Treasury of engaging in money laundering. Paul Jeremy Brough, of the international ...

  10. How torrent of cash flows to HK from Shenzhen

    Posted Nov 17th 2007, 12:00am by Staff Reporter

    ... money-transfer outlets in Shenzhen, which would instruct associates in Hong Kong to deposit the equivalent amount in Hong Kong dollars in designated accounts at local brokerages or bank branches ... banks on the mainland accepted big deposits of yuan from mainland citizens and then allowed the withdrawal of an equivalent sum in Hong Kong dollars through their Hong Kong branches. 'These ...




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