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  1. Settlement of cross-border trade in yuan to start soon, minister says

    Posted Apr 25th 2009, 12:00am by Cary Huang

    ... discussion. The State Council said early this month that it would allow traders in Shanghai, Guangzhou, Shenzhen, Zhuhai and Dongguan to settle their cross-border business in yuan. In December last ... Cary Huang in Beijing and Maria Chan Hong Kong banks will soon be allowed to start the highly anticipated settlement of cross-border trade in yuan, the secretary for financial services ...

  2. Cross-border settlement rules target abuse

    Posted Jul 07th 2009, 12:00am by Staff Reporter

    ... Maria Chan The Hong Kong Monetary Authority has announced guidelines for banks on cross-border yuan trade settlements, urging them to take measures to prevent abuse of the new services. Hong Kong firms could only settle yuan-denominated trades with mainland counterparts by opening specific accounts at banks, it said. Banks could provide yuan services including deposit, cheque, ...

  3. Real-time cross-border payment system agreed

    Posted Mar 13th 2009, 12:00am by Staff Reporter

    ... Natalie Chiu The mainland and Hong Kong have agreed to establish a cross-border payment arrangement for four currencies to enhance efficiency. From March 16, four mainland lenders would be able to use connected real-time gross settlement systems to make cross-border payments and settlements, the Hong Kong Monetary Authority said yesterday. Real-time settlement means payment ...

  4. BOC eyes cross-border yuan trade settlements

    Posted Apr 15th 2009, 12:00am by Staff Reporter

    ... Maria Chan Bank of China's vice-chairman yesterday said the country's largest foreign-exchange bank was gearing up to handle yuan-based cross-border trade settlements. Li Lihui ... in Shanghai, Guangzhou, Shenzhen, Zhuhai and Dongguan to settle cross-border trade deals in yuan. In December last year, the council said Hong Kong and Macau would be permitted to use yuan to settle ...

  5. Alarm at cross-border drug abuse

    Posted Mar 09th 2009, 12:00am by Agnes Lam

    ... Agnes Lam Secretary for Security Ambrose Lee Siu-kwong is worried about cross-border drug abuse by young people, including those who used illegal drugs on the mainland and trafficked them into the city. In the first nine months of last year, 13.3 per cent of young drug abusers took drugs on the mainland, and the number of young cross-border traffickers was up 80 per cent. ...

  6. Cross-border phone fraud gang members arrested in Shenzhen

    Posted Sep 08th 2009, 12:00am by Fiona Tam

    ... Fiona Tam At least 18 members of what Shenzhen police called a cross-border criminal gang have been arrested over a mainland phone fraud scheme that netted more than 25 million yuan (HK$28 ... reported yesterday, though police did not specify where they were from. The term 'cross-border', as used by Guangdong police, usually refers to Hong Kong and Macau as well as other ...

  7. Pointless cross-border express link is a case of misplaced priorities

    Posted Nov 01st 2009, 12:00am by Staff Reporter

    ... The government keeps telling us that the cross-border high-speed rail link must be built, otherwise we will be doomed. It also brushes away a counter-proposal for a line that would save more than half the construction cost 'of HK$65.2 billion' ('Express rail approved- at 65pc price rise', October 21). To ordinary people, this alternative proposal seems like ...

  8. Cross-border railway to turn villagers into multimillionaires

    Posted Oct 21st 2009, 12:00am by Fox Yi Hu

    ... Fox Yi Hu Villagers affected by the cross-border railway project stand to become multimillionaires under a new compensation package unveiled by the government yesterday. The offer drew a favourable response from residents near Yuen Long, but some members of a village that will make way for a depot say they still want to stay put. They face forcible removal if they stick ...

  9. Sceptical about the merits of high-speed cross-border rail link

    Posted Sep 26th 2009, 12:00am by Staff Reporter

    ... Ma Chau. Fares for the new train are promised to be significantly higher. An easy winner for East Rail. And finally, there is competition from the cross-border buses to Shenzhen. A bus from ...

  10. Cross-border deal to fight kidnappings

    Posted Jan 23rd 2009, 12:00am by Kelly Chan

    ... Kelly Chan Authorities in Myanmar have agreed to work with their counterparts in China to stop a cross-border kidnapping ring in which as many as 50 mainland teenagers might have been tortured and held for ransom, according to The Beijing News. Police arrested two of nine suspects believed to have been involved in kidnapping and transporting the victims to Myanmar, Xinhua said. ...




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