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  • November 29, 2014
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  1. StanChart sees yuan fall against US dollar

    Posted Jun 07th 2012, 12:00am

    ... the yuan to the US dollar as it did after the 2008 financial crisis, and sees it continuing to allow more two-way movement in the currency. Beijing scrapped the yuan's decade-old peg to the dollar in July 2005 and allowed the currency to rise by 19 per cent against the US currency over the next three years. But in July 2008, when the global financial crisis erupted, it reinstated ...

  2. Fall and rise of the renminbi: 'people's currency' rides out downturn to become a global powerhouse

    Posted Sep 25th 2009, 12:00am by Staff Reporter

    ... The currency quarrel between the two governments suddenly calmed when the global financial crisis began. Many market watchers have started to talk about the potential of the renminbi becoming a world currency, because of the stability of the mainland's economy. A series of moves by the central government after the financial crisis only reinforced the talk. They signed currency ...

  3. First yuan bonds issued in London

    Posted Apr 19th 2012, 12:00am

    ... to be issued in Hong Kong since 2007, and has allowed trades to be settled in yuan since 2009, as part of the country's efforts to internationalise its currency, also known as the renminbi. Fallout from the 2008 financial crisis spurred Beijing to place the internationalisation of its currency, which is not easily convertible into other currencies, high on its agenda. ...

  4. PBOC sets yuan parity rate at 5-year high

    Posted Jun 23rd 2010, 12:00am by Staff Reporter

    ... Jane Cai The People's Bank of China yesterday set the yuan's central parity rate- the centre point of the currency's official trading band- at the highest level against ... by the financial crisis in 2008 when the mainland reverted to a de facto peg with the greenback to minimise the impact. The weekend announcement was widely seen as a move to head off international pressure ...

  5. Yuan bonds in HK bring offshore market closer

    Posted Dec 16th 2008, 12:00am by Staff Reporter

    ... by the financial crisis to increase the influence of its currency. 'It seems recently that China has been quite active in making the yuan a regional and eventually international currency,' Mr Ma ... won (HK$212.8 billion) currency swap accord to ensure financial stability in the countries amid the widening financial crisis. Yang Tao, the deputy director of the Finance and Banking ...

  6. Economists hail yuan trade scheme as step to going global

    Posted Dec 26th 2008, 12:00am by Staff Reporter

    ... Jane Cai Beijing's decision to allow the yuan to be used as a limited trade currency lends long-term support to the renminbi and is a major step towards making it an international currency, experts said. The State Council said on Wednesday that companies in Hong Kong and Macau would be permitted to use yuan to settle trade in goods with partners in Guangdong and the Yangtze ...

  7. Business - Comment - MONITOR

    What bank research reports don't tell you about the yuan

    Posted Aug 23rd 2012, 12:00am by Tom Holland

    ... reserve currency popped into my e-mail inbox yesterday. I've been sent dozens of these in recent months. The standard of the analysis varies widely, and their length ranges from a few pages ... that in the past the yuan has been little used outside China. But with faith in the US dollar shaken by the 2008 financial crisis, and with Beijing now actively promoting the yuan for international trade ...

  8. Feast of sovereign bonds a real gift

    Posted Jun 30th 2012, 12:00am

    ... to become a reserve currency for major central banks. The euro-zone crisis and the low interest rate offered by US Treasuries have helped the yuan as an alternative asset. 'Beijing is now ... as a true international currency. The fourth China sovereign bond tender announced in the city on Thursday not only marks the largest offer in terms of size, it's also the first time ...

  9. CDB set to sign memorandum on yuan loans to its four BRICS counterparts

    Posted Mar 19th 2012, 12:00am

    ... available to them, in a major move to boost the currency's international status, according to two bank staff. Corporate borrowing in yuan from Hong Kong banks has already picked up in recent months after the currency's appreciation slowed, with Beijing announcing a series of measures to help invest yuan accumulated offshore back on the mainland. The plan to promote yuan loans ...

  10. Fall in HK yuan deposits likely to continue

    Posted Jun 04th 2012, 12:00am

    ... other currencies was why retail yuan deposits in Hong Kong had fallen from December to April. Yuan deposits in Hong Kong stood at 552.4 billion yuan (HK$675.78 billion) at of the end of April ... a year, and it was almost 30 per cent up during the past seven years until September last year. That was why so many people exchanged other currencies into yuan,' Lu said. 'Many ...




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