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  1. Plan sees yuan as a world currency

    Posted Aug 31st 2009, 12:00am by Cary Huang

    ... Cary Huang in Beijing Vice-Premier Wang Qishan has been put in charge of a task force to make the yuan a currency for international trade, an experiment in which Hong Kong is expected ... from the foreign exchange job. It was taken over by Yi Gang, another central bank vice-governor. The reshuffle was designed to enable Ms Hu to concentrate on the ambitious currency programme. ...

  2. Currency tightrope act a Snow job of the highest order

    Posted Oct 13th 2005, 12:00am by Tom Holland

    ... regime that could formally accuse China of manipulating its currency, opening the way to trade sanctions. He has bought only a little time, however. Last week Charles Schumer, a leading light ... cent, respectively, against the euro and the yen, the two other main components of any basket. If Beijing had been holding its currency steady against a trade-weighted basket, the yuan would ...

  3. Support for single Asian currency is unrealistic

    Posted Apr 28th 2005, 12:00am by Staff Reporter

    ... Donald Tsang Yam-kuen's support for an Asian single currency is unrealistic ('Single currency would make Asia strong,' Sunday Morning Post, April 24). I doubt that the case for such a currency is 'overwhelming'. His arguments are based on this currency helping intra-Asian trade. This is valid, but surely monetary union is decades away. First, we need free trade ...

  4. Beijing bid to expand HK's yuan business

    Posted May 04th 2009, 12:00am by Cary Huang

    ... in a significant move aimed at making the city a yuan offshore centre, sources say. Under a programme to gradually turn the yuan into an international currency, the State Council is studying a proposal ... is desired by both the central government and Hong Kong on the one hand, while it helps push forward the mainland's effort to smoothly develop the yuan into an international currency ...

  5. US, China envoys meet amid tension over arms

    Posted Oct 12th 2011, 12:00am

    ... Cary Huang in Beijing cary.huang@scmp.com Top diplomats of China and the United States met yesterday amid escalating tensions between the two powers over currency and Washington's ... in Beijing, just hours before US lawmakers headed towards a final Senate vote on legislation that would retaliate against Beijing for alleged currency manipulation. 'The talks will focus ...

  6. Coastal Greenland profit skyrockets 300 per cent

    Posted Jul 04th 2012, 12:00am

    ... Angela Che angela.che@scmp.com Profit attributable to shareholders at mainland property developer Coastal Greenland surged 300 per cent to HK$593 million for the fiscal year ended March. The company says it 'remains positive' about long-term pro ...

  7. Yuan reform

    Posted May 19th 2005, 12:00am by Staff Reporter

    ... China has come under major pressure from the United States to revalue its currency, a day after stating that it would not bow to foreign pressure. What should China do? Share your views: write to us ...

  8. Regulator curbs transfers to check hot money

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

    ... Daniel Ren in Shanghai The mainland's foreign exchange regulator has issued a rule to control local and foreign currencies being transferred between bank accounts, a move to curb hot ... or individuals from sending foreign currencies to five or more mainland residents to convert into yuan in a single day or on consecutive days. The rule was the first of its kind on the mainland and came ...

  9. Costs in city set to soar

    Posted Mar 26th 2010, 12:00am by Alex Frew Mcmillan

    ... into US dollar terms, currency gains in the beleaguered British pound ensured that London didn't get any cheaper for multinationals. In Tokyo, it now costs US$20,960 to put up an employee, ...

  10. Scope of yuan trade should be broadened

    Posted May 05th 2009, 12:00am by Staff Reporter

    ... Maria Chan Hong Kong's role as an offshore centre for the mainland's currency would be enhanced by Beijing's proposal to allow countries receiving its financial aid to trade ... the yuan into an international currency gradually. However, as the yuan is not fully convertible, nations receiving the yuan funds can only spend the money on products made in China. To resolve ...




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