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  • July 10, 2014
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  1. Business - Banking & Finance - CURRENCIES

    Delayed payments system stalls yuan’s global ambitions

    Posted Jul 09th 2014, 11:18am by Reuters

    ... Reuters in Beijing Roll-out of CIPS network won't be ready before 2016 due to technical glitches and policy snags Payment system delay hits yuan's global ambitions China's quest to turn the yuan into a full-fledged global currency has hit a roadblock, as the planned roll-out of a worldwide payments superhighway looks certain to be delayed by policy snags ...

  2. Business - Banking & Finance - CURRENCIES

    Bank of China plans to launch yuan bonds in Luxembourg

    Posted May 08th 2014, 11:18am by Jeanny Yu

    ... Jeanny Yu jeanny.yu@scmp.com Lender marketing the first yuan bonds to be listed in the euro zone by a Chinese company BOC plans Luxembourg yuan bonds Bank of China has returned ... 2.5 billion yuan of a three-year bond in London at 3.45 per cent. Chinese banks face pressure to raise funds to withstand an expected rise in bad loans. The transaction is a step forward ...

  3. News - China - INFRASTRUCTURE

    Chinese border town to demolish failed 270m-yuan tourist strip near Vietnam

    Posted Jun 20th 2014, 02:23pm by MANDY ZUO

    ... Mandy Zuo mandy.zuo@scmp.com Relatively new project becomes a white elephant, requiring more money to dismantle than what it took to build it A remote Chinese county near the Vietnam border is demolishing a tourist strip just three years after it was built at a whopping cost of 270 million yuan (HK$340 million). The Hekou county government in Yunnan is spending 300 million ...

  4. Business - Economy

    China faces tough-talking Yuan on weak yuan and market reforms

    Posted Jul 08th 2014, 01:54am by BLOOM

    ... Ian Katz US Treasury official will be in Beijing this week to press for greater market access for foreign businesses and a stronger Chinese currency China faces tough-talking Yuan on weak yuan and reforms Among the half-dozen US Treasury officials travelling to Beijing for talks with their Chinese counterparts this week, Sharon Yuan will, as usual, carry the heaviest suitcase. ...

  5. Business - Banking & Finance - CURRENCIES

    Yuan rebound likely amid Beijing's bid to stem capital flight

    Posted Apr 09th 2014, 01:40am by BLOOM

    ... Bloomberg Nomura forecasts a 3.5pc rebound in the currency as Beijing seeks to maintain stability Yuan gain likely in bid to stem capital flight The yuan is poised to recover from declines ... which had the best estimates for the yuan over the past four quarters, predicts a 3.5 per cent advance to six per US dollar by the end of this year, matching the median projection of analysts ...

  6. Business - Banking & Finance - CURRENCIES

    Investors warned of more fluctuations in yuan

    Posted Mar 04th 2014, 05:09am by JANE CAI, Victoria Ruan, Kwong Man-ki

    ... band expected for yuan The mainland's foreign exchange chief has warned investors to expect more fluctuations in the value of the yuan as the currency moves towards a more market-based ... of the People for the opening of the annual meeting of the Chinese People's Political Consultative Conference. He declined to respond to rising market speculation that Beijing was readying to widen ...

  7. Business - Banking & Finance

    Yuan set for biggest decline in 20 years

    Posted Apr 01st 2014, 01:20am by BLOOM

    ... Bloomberg Yuan set for biggest decline in 20 years The yuan was set to complete the biggest quarterly decline in two decades after the mainland's central bank widened the currency's trading band amid concern growth in the economy is losing momentum. The People's Bank of China doubled the yuan's permitted divergence from a daily reference rate to 2 per cent ...

  8. Comment - Insight & Opinion

    Fall in yuan can have upside, too as credit risk can be properly priced

    Posted Mar 01st 2014, 04:35am by SCMP Editorial

    ... SCMP Editorial Fall in yuan can have upside, too Beijing has served notice that speculation in the Chinese currency is no longer a one-way bet. The market is coming to terms with the fact that a sharp depreciation of the yuan in recent days, including the biggest intra-day fall since 2007 yesterday, is policy-driven ahead of an anticipated widening of the unit's daily trading ...

  9. Business - Banking & Finance - CURRENCIES

    Yuan to be fully convertible by 2017, says Gulliver

    Posted Mar 28th 2014, 01:40am by Jeanny Yu

    ... Jeanny Yu jeanny.yu@scmp.com Yuan fully convertible by 2017, says Gulliver The yuan will achieve full convertibility earlier than expected as Beijing pushes forward reforms, but its global ... "The reform process will not slow down. If anything, it will increase in speed, albeit in a controlled manner," Gulliver said yesterday in a forum on the yuan held by HSBC. The reform ...

  10. Business - Economy - MONITOR

    The yuan is falling, but only because Beijing wants it to

    Posted Mar 03rd 2014, 02:59am by Tom Holland

    ... emerging-market currencies now looking soft against the dollar, any further yuan appreciation will threaten severely to erode the price competitiveness of Chinese exports compared with those of other ... Tom Holland Despite talk of a greater role for market forces, the currency is still far from freely floating with constant interventions from the central bank The yuan is falling, but only ...




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