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  • July 12, 2014
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  1. Business - Banking & Finance - FINANCE

    Like Bank of China, Citic Bank also offers service branded 'money laundering' by CCTV

    Posted Jul 09th 2014, 03:58pm by Don Weinland and George Chen

    ... the movement of currency overseas, including Hong Knog. "It is definitely not an illegal business," said one source. "Both BOC and Citic Bank have been able to do this business only ... the central bank would need more time to investigate the situation. Analysts cast doubt on whether such a scheme that allowed for free currency exchange could exist. "The government is very ...

    http://www.scmp.com/business/banking-finance/article/1550351/bank-china-laundering-money-would-be-emigrants-cctv-reports
  2. Business - Banking & Finance - BANKING

    Fears of tough action by Beijing following allegation BOC launders money

    Posted Jul 11th 2014, 11:34pm by Daniel Ren

    ... is determined to make the yuan an international currency, but rampant capital outflows could wreak havoc in the domestic economy and potentially spark social unrest. Reform-minded bankers and analysts ...

    http://www.scmp.com/business/banking-finance/article/1552389/fears-tough-action-beijing-following-allegation-boc
  3. Business - Banking & Finance - CURRENCIES

    BOC Hong Kong fends off new competition in yuan trading

    Posted Feb 17th 2014, 04:47am by KANIIS LI, Jeanny Yu

    ... of the gradual liberalisation of the tightly regulated currency control market, especially since Hong Kong, the testing ground for yuan internationalisation and the largest offshore deposit jurisdiction, plays an important role in the overall currency strategy. Two state-backed lenders, Bank of China's branch in Taipei and Industrial and Commercial Bank of China's branch in Singapore, ...

    http://www.scmp.com/business/banking-finance/article/1429240/boc-hong-kong-fends-new-competition-yuan-trading
  4. Business - Economy - CURRENCIES

    China and UK in talks over London yuan clearing bank

    Posted Feb 20th 2014, 11:16am by Jeanny Yu

    ... and Singapore, to have a yuan clearing bank- an authorised intermediary for the exchange of the Chinese currency against US dollars or euros between banks on the mainland and offshore participating ... Chancellor of the Exchequer George Osborne said in a speech to business leaders in Hong Kong yesterday. "Ultimately what we all want to see is RMB being used more and more as a currency ...

    http://www.scmp.com/business/economy/article/1431603/china-and-uk-talks-over-london-yuan-clearing-bank
  5. We've been left in the dark over Bank of East Asia mess

    Posted Sep 27th 2008, 12:00am by Shirley Yam

    ... by the board. The bank managed the crisis with few hiccups. Some may say: 'Well, that's France.' But for those who see no point in comparing us with the more sophisticated developed ...

    http://www.scmp.com/article/654119/weve-been-left-dark-over-bank-east-asia-mess
  6. Cashing in big on yuan trade

    Posted Apr 06th 2009, 12:00am by Staff Reporter

    ... currency. Locked into complicated multicurrency transactions and vulnerable to fluctuations in the relative value of the yuan and other units, people like Mr Tsui would like nothing better than ... in a foreign currency, such as the US dollar. Stanley Wong Yuen-fai, director and deputy general manager of the Industrial and Commercial Bank of China, said that when a Hong Kong importer concluded ...

    http://www.scmp.com/article/675954/cashing-big-yuan-trade
  7. Last year's favourite bet looks set to underperform in 2012

    Posted Jan 12th 2012, 12:00am

    ... than 8 per cent against a basket of major currencies, thanks largely to the weakness of the euro. Foreign exchange analysts expect the trend to continue this year. With Europe sliding ... the US currency. This new-found US dollar strength, coupled with the worsening economic outlook, is bound to affect Beijing's near-term exchange rate policy. With the US dollar relatively ...

    http://www.scmp.com/article/989952/last-years-favourite-bet-looks-set-underperform-2012
  8. Business - Banking & Finance - REMUNERATION

    Hong Kong employees at Asian banks expecting strong bonus season

    Posted Jan 07th 2014, 09:55am by George Chen, KANIS LI

    ... of China (Hong Kong), one of the city's three issuers of currency notes. Executives working for these banks said those in revenue-generating positions might receive a bonus equal to at least ...

    http://www.scmp.com/business/banking-finance/article/1399613/hong-kong-employees-asian-banks-expecting-strong-bonus
  9. China theme underpins World Bank bond fund

    Posted Jun 13th 2012, 12:00am

    ... Enoch Yiu enoch.yiu@scmp.com The World Bank has tied up with Bank of China (Hong Kong) to launch an emerging market bond fund that allows retail investors to bet on gains in the currencies ... currencies of countries trading with China, including Australia, Brazil, Chile, Colombia, India and South Africa. Investing in the fund would be equivalent to investing in a basket of debt securities ...

    http://www.scmp.com/article/1003824/china-theme-underpins-world-bank-bond-fund
  10. Shipbuilder out to minimise currency risks

    Posted Nov 24th 2011, 12:00am

    ... Keith Wallis in Rugao, Jiangsu keith.wallis@scmp.com The mainland's biggest privately controlled shipbuilder, China Rongsheng Heavy Industries, will tap international banks, especially those based in Hong Kong, for foreign currency financing. China Rongsheng president Chen Qiang said this was intended to reduce the foreign exchange risk between the greenback ...

    http://www.scmp.com/article/985788/shipbuilder-out-minimise-currency-risks

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