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  1. Growth in new loans better than expected

    Posted Dec 15th 2011, 12:00am

    ... slowdown. Mainland banks extended 562.2 billion yuan (HK$689.99 billion) in new local currency loans in November, the People's Bank of China said yesterday. Although the figure was lower than ... 'Provided that the euro zone withstands the crisis, China would not need drastic measures like another stimulus package. The central bank is likely to cut the reserve requirement ratio three to four ...

  2. Strong yuan sets off alarm on payments gap

    Posted Mar 18th 2008, 12:00am by Denise Tsang

    ... China's international balance of payments were increasingly difficult as the United States credit market crisis spread and inflation continued to bite, the State Administration of Foreign Exchange ... currency's rise of about 17 per cent since its revaluation in 2005 or 3 per cent since January. The yuan's exchange rate jumped to a record of 7.08 against the dollar yesterday. ...

  3. Despite chatter, yuan revaluation unlikely

    Posted Mar 18th 2008, 12:00am by Tom Holland

    ... of the subprime crisis has become clearer. As a result, because its exchange rate is managed primarily against the US dollar, the yuan has also fallen in value against other important currencies. Since ... Tom Holland As the US dollar has continued to slide on international foreign exchange markets, speculation has mounted that the fall of the US currency will force Beijing into a one-off ...

  4. Time to grab your ticket for when the yuan hits the tracks

    Posted Jun 26th 2010, 12:00am by Shirley Yam

    ... policymakers, there is no such thing as a coincidence. These are all essential pieces of the plan to make the yuan an international currency. Since the US-triggered financial turmoil, Beijing has put the yuan's internationalisation high on its agenda. It is not about trade, but economic stability and the growth of the country into a genuine world power. The sovereign debt crisis in Europe ...

  5. US-China tensions a change in emphasis, not in position

    Posted Jul 29th 2009, 12:00am by Tom Holland

    ... that Beijing was keeping the value of the yuan artificially low, unfairly undercutting US manufacturers both at home and abroad. Beijing should allow its currency to float freely, they argued, for the good of both the Chinese and the international economies. But last year's financial crisis has greatly diminished Washington's moral authority to lecture the rest of the world ...

  6. Yuan stampede with no exit

    Posted Sep 19th 2011, 12:00am

    ... on the yuan has thus contributed to Beijing's difficulties in keeping an orderly path for the currency. In growing desperation to find a solution to what is now starting to become more a crisis than just a difficulty in the balance of payments, the authorities have begun clutching at straws. The most notable one is a hope that the yuan could itself be made a world reserve currency ...

  7. Yuan band move makes a virtue out of market necessity

    Posted Apr 16th 2012, 12:00am

    ... the authorities have found that their manipulation of the currency has carried unintended, and unwelcome, consequences. What happened during the global financial crisis was a good example. As the US ... Tom Holland You have to admire Beijing's timing. On Saturday the People's Bank of China announced it would widen the daily trading band of China's currency. From today, ...

  8. Finance ministry plans 20b yuan bond sale in HK

    Posted Aug 04th 2011, 12:00am

    ... of the global financial crisis in a bid to reduce the impact from the weakening of the US dollar. It signed currency swaps with neighbouring countries and supported the yuan's use as a trade ... in Hong Kong and pave the way for the internationalisation of its currency. The ministry said it was an 'important measure' to support Hong Kong's development as an offshore yuan ...

  9. US currency bill 'a threat to trade ties'

    Posted Oct 11th 2011, 12:00am

    ... Teddy Ng in Beijing teddy.ng@scmp.com Beijing has warned again of a 'trade war' if the United States enacts a law making it easier to impose retaliatory tariffs on China for alleged currency manipulation. Vice Foreign Minister Cui Tiankai told a media briefing yesterday- just before US lawmakers head towards a final Senate vote- that the currency bill would hinder ...

  10. A boost for HK's yuan hub role

    Posted Aug 19th 2011, 12:00am

    ... in Beijing's ultra-cautious policy of gradually opening China's capital account and encouraging wider use of its currency, they are much more significant. One new initiative is to allow ... of yuan to buy mainland securities will enable them to avoid currency risks but is unlikely to satisfy demand, given that a 20-billion-yuan limit is dwarfed by the city's yuan deposits. ...




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