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  • October 25, 2014
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  1. Business - Banking & Finance - THE VIEW

    China speeds up transformation of yuan into global currency after crisis

    Posted Oct 20th 2014, 09:26am by Cathy Holcombe

    ... Cathy Holcombe Yuan's transformation into a global currency has been speedy, but major reforms are needed if China is to seriously challenge the US dollar's status Dollar ... This is the privilege of being the world's reserve-currency country and one that other nations have been grumbling about for decades, starting with the French in the 1960s. A tipping point of frustration ...

    http://www.scmp.com/business/banking-finance/article/1620428/china-speeds-transformation-yuan-global-currency-after
  2. Business - Banking & Finance

    Cross-border yuan payment platform next challenge for Beijing

    Posted Oct 20th 2014, 05:05am by Jeanny Yu

    ... the complexity in settling yuan trades and as offshore dealing in the currency swells, said Evan Goldstein, the global head of yuan solutions at Deutsche Bank. "In terms of major milestones that lie ... with any other major global currency," Goldstein told the South China Morning Post. The current system, CNAPS (China's National Advanced Payments System), creates frictions as it uses ...

    http://www.scmp.com/business/banking-finance/article/1620196/cross-border-yuan-payment-platform-next-challenge-beijing
  3. Business - Economy - CURRENCIES

    Beijing's political ties crucial to liberalising the yuan

    Posted Oct 13th 2014, 04:13am by Jeanny Yu

    ... Jeanny Yu jeanny.yu@scmp.com Xi Jinping's overseas trips are well-planned business initiatives and are a way of plotting Beijing's currency policies on the global stage Political ties key to liberalising yuan When Xi Jinping touches down in a foreign capital, the odds are that he will pull out of his suitcase a currency deal that host countries will eagerly sign ...

    http://www.scmp.com/business/economy/article/1615372/beijings-political-ties-crucial-liberalising-yuan
  4. Business - Banking & Finance - CURRENCIES

    Sydney expected to get yuan clearing bank soon

    Posted Oct 25th 2014, 03:41am by Jeanny Yu

    ... would prefer to do the exchange in the offshore market where costs are lower. On Monday, Singapore Exchange launched currency futures contracts for China's onshore and offshore yuan, a move designed to involve more companies in hedging and encourage corporate treasurers in Southeast Asia to use yuan as an investment and trade currency. ...

    http://www.scmp.com/business/banking-finance/article/1624075/sydney-expected-get-yuan-clearing-bank-soon
  5. Business - Money - CURRENCIES

    Yuan proves to be a bulwark against strong US dollar in Asia

    Posted Oct 09th 2014, 05:55am by Jeanny Yu

    ... Jeanny Yu jeanny.yu@scmp.com Safe haven of mainland currency helping to prevent investors from fleeing region entirely Yuan a bulwark against strong US dollar in Asia A stronger US dollar has historically caused fund managers to flee emerging-market assets but Asia seems to be bucking the trend this time, largely because of the yuan. At a time when nearly all Asian currencies ...

    http://www.scmp.com/business/money/markets-investing/article/1612285/yuan-proves-be-bulwark-against-strong-us-dollar
  6. Business - Banking & Finance - CURRENCIES

    Yuan to start direct trading with euro today

    Posted Sep 30th 2014, 04:32am by Bloomberg

    ... Bloomberg Move comes as mainland China encourages usage and internationalisation of currency Yuan to start direct trading with euro today The mainland will start direct trading between the yuan and the euro today as the world's second-largest economy seeks to spur global use of its currency. The move will lower transaction costs and so make yuan and euros more attractive ...

    http://www.scmp.com/business/money/markets-investing/article/1604235/yuan-start-direct-trading-euro-today
  7. Business - Banking & Finance - CURRENCIES

    Yuan decades away from being global reserve currency

    Posted Apr 11th 2014, 10:18am by Victoria Ruan

    ... observers say the mainland currency has more often been chased by speculators than serving as a US dollar-type "safe haven". The central government has made clear its ambition to boost ... to further liberalise the market, before the yuan can become a global reserve currency. They estimate the process could take decades. Beijing has signed bilateral swap deals and set up offshore yuan ...

    http://www.scmp.com/business/money/article/1475607/yuan-decades-away-being-global-reserve-currency
  8. Business - Banking & Finance

    Central banks' investment in yuan puts currency nearer reserve status

    Posted Apr 07th 2014, 04:38am by Jeanny Yu

    ... Jeanny Yu in Singapore jeanny.yu@scmp.com Investment by dozens of central banks comes despite currency not being fully convertible Yuan moves fast on path to reserve status, says StanChart At least 40 central banks have invested in the yuan and several others are preparing to do so, putting the mainland currency on the path to reserve status even before full convertibility, Standard ...

    http://www.scmp.com/business/banking-finance/article/1466621/central-banks-investment-yuan-puts-currency-nearer-reserve
  9. Business - Economy - CURRENCIES

    Use of yuan in cross-border mainland China trade hits 3-month low

    Posted Sep 13th 2014, 04:47am by Jeanny Yu

    ... as companies continued to avoid the currency amid its uncertain outlook and rising volatility in the foreign exchange market. In June and July, yuan trade settlement accounted for 21 per cent and 27 per cent of the mainland's cross-border trades, respectively. A total of 352.1 billion yuan (HK$444.8 billion) worth of cross-border trades were settled in the mainland currency last ...

    http://www.scmp.com/business/economy/article/1591290/use-yuan-cross-border-mainland-china-trade-hits-3-month-low
  10. Business - Economy - CURRENCIES

    Surging yuan trade sees Russia tilt towards China

    Posted Sep 26th 2014, 05:09am by Bloomberg

    ... Bloomberg in Moscow Years after yuan trading was introduced in Russia, trade between the rouble and the Chinese currency has escalated as sanctions bite Yuan trade surges as Russia tilts ... of the pipeline that will carry the fuel to the border. Introducing yuan payments into the gas business would lead to an exponential rise in trading in the Chinese currency in Moscow, the sources said. ...

    http://www.scmp.com/business/economy/article/1600459/surging-yuan-trade-sees-russia-tilt-towards-china

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