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  • November 24, 2014
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  1. Yuan trading band tipped to widen but major devaluation ruled out

    Posted Dec 19th 2008, 12:00am by Staff Reporter

    ... Maria Chan and Jane Cai Beijing is unlikely to devalue the yuan significantly but could widen the daily trading band of the currency against the US dollar to increase flexibility ... by the central bank against the dollar, and up to 3 per cent against non-US-dollar currencies. The economic slowdown and the weakening of the yuan to the US dollar, particularly in the first few days ...

  2. Official calls for yuan convertibility

    Posted Nov 20th 2008, 12:00am by Staff Reporter

    ... Daniel Ren in Shanghai Former central bank executive says unit should be an international reserve currency Beijing should gear up preparations for the yuan's full convertibility, raising the profile of the currency amid the global financial turmoil, according to a former deputy governor of the central bank. Wu Xiaoling, now a deputy director with the finance and economic ...

  3. Firm dollar weighing heavily on yuan, says statistics executive

    Posted Dec 27th 2008, 12:00am by Martin Zhou

    ... per cent since Beijing introduced a controlled appreciation of the currency in 2005, but it has been almost unchanged in the past two months. Sentiment first turned last month as Zhou Xiaochuan, the governor of the People's Bank of China, said Beijing might allow a depreciation of its currency to boost sharply declining exports amid a global slowdown. The yuan fell for four ...

  4. PBOC to return excess reserves to banks in yuan not dollars

    Posted Oct 11th 2008, 12:00am by Staff Reporter

    ... are needed amid an 'unoptimistic international outlook'. Since August last year, the central bank had been asking major lenders to meet increased reserve requirements in foreign currencies ... think the PBOC mainly considers its own needs. China still has a trade surplus, which means foreign currencies are continuing to flow in,' Mr Mei said. 'If the central bank returns ...

  5. Cuts to rates and taxes a boost for homebuyers

    Posted Oct 23rd 2008, 12:00am by Peggy Sito, Sandy Li

    ... Sandy Li and Peggy Sito The central government yesterday cut tax, down payments and mortgage rates on home purchases in an effort to bolster the market after prices recorded the smallest gain in three years. From November 1, the Ministry of Finance said, ...

  6. Property developers surge on support moves

    Posted Oct 21st 2008, 12:00am by Peggy Sito

    ... Peggy Sito Shares of mainland developers advanced yesterday on hopes that the central government will release more measures to support the country's sagging housing market. But property experts said the rebound would be short-lived as the market woul ...

  7. In Brief

    Posted Oct 17th 2008, 12:00am by Staff Reporter

    ... Guarantee on bank deposits temporary, says Joseph Yam Hong Kong Monetary Authority chief executive Joseph Yam Chi-kwong said the blanket guarantee on all bank deposits in Hong Kong announced on Tuesday was a temporary measure applied at a delicate time wh ...

  8. Mainland car trade group may cut target as sales slow

    Posted Oct 13th 2008, 12:00am by Kandy Wong

    ... Kandy Wong The China Association of Automobile Manufacturers may cut its vehicle sales target for this year after Ford Motor slashed the price on its Mondeo and a slow start in the second half. The association, supervised by the Ministry of Civil Affairs, ...

  9. A question of currency

    Posted Sep 16th 2008, 12:00am by Duncan Freeman

    ... Duncan Freeman Borrowing in a foreign currency is often an option for real estate buyers seeking a mortgage at an interest rate lower than they could get in their domestic currency. While there has been some foreign currency borrowing by Spanish investors, this has been more limited. The attraction of a foreign currency loan depends largely on the interest rate differential. ...

  10. Currency pressures a challenge for HK

    Posted Sep 29th 2008, 12:00am by Staff Reporter

    ... as the city's real interest rates turn negative. By coincidence, this month marks the 25th anniversary of the currency board. Monetary Authority chief Joseph Yam Chi-kwong took the occasion last week ... as a second currency in many places here. Its use will only become more common in future. As we can't adjust interest rates to adapt to external circumstances, our asset prices have to adjust. We ...




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