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  • October 26, 2014
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  1. Business - Companies - LISTINGS

    Meilan plans dual-currency IPO in Hong Kong

    Posted Aug 14th 2012, 12:00am by Enoch Yiu

    ... Meilan plans dual-currency IPO Meilan International Holdings, a mainland chemical producer, may become the first company to raise both yuan and Hong Kong dollars with a planned dual-currency ... Previously, companies including jewellery retailer Chow Tai Fook Jewellery had initially planned dual-currency IPOs but eventually chose to list in Hong Kong dollars only due to the complications ...

  2. Business - Money - MONITOR TOM HOLLAND

    Dual-currency IPO breaks cardinal rule of capital markets

    Posted Aug 15th 2012, 12:00am by Tom Holland

    ... Tom Holland Two-track yuan and Hong Kong dollar listing plan is one bad idea, despite surface appeal of being first off the block and tapping more pools of liquidity Dual-currency IPO ... to launch a dual-currency yuan and Hong Kong dollar share offering on the city's stock market. It's a lousy idea. You can see why someone thought a dual-currency listing might be a clever ...

  3. Mainland faces currency battle

    Posted May 07th 2012, 12:00am

    ... pre-eminence as an offshore centre for the currency. Now, though, with the central government and central bank making clear their aim of seeing the yuan one day attain reserve currency status, ... of their currencies in the yuan, then a critical mass is reached.' At a policy level, Poon notes that China's ambitions in this respect are partly symbolic and partly a consequence of its position ...

  4. Beijing extends currency buying

    Posted Mar 17th 2012, 12:00am

    ... Lulu Chen lulu.chen@scmp.com China was a net purchaser of foreign currency for a second straight month in February, reflecting increasing capital inflows, easing liquidity conditions and rising confidence in the yuan last month, economists said. The People's Bank of China bought a net 25.12 billion yuan (HK$30.74 billion) of foreign currency last month compared with a net ...

  5. Five reasons yuan is no threat to dollar as reserve currency

    Posted Feb 10th 2012, 12:00am

    ... Tom Holland tom.holland@scmp.com If I had US$100 billion for every time someone has told me that the yuan is going to displace the US dollar as the world's foremost reserve currency, I reckon I'd have almost as much in foreign reserves as China. Yet I remain sceptical. For the yuan to become a major reserve currency, China will first have to fulfil several important ...

  6. Wages and currency gains eat into profit at Vtech

    Posted Nov 17th 2011, 12:00am

    ... Neil Gough neil.gough@scmp.com Vtech Holdings said rising wages and currency appreciation on the mainland were to blame for declining profit in the six months to the end of September. ... but steadily rising currency have been the norm in recent years. The average monthly income of mainland migrant workers rose to 1,991 yuan (HK$2,437) in the third quarter, up 20 per cent from 1,659 ...

  7. Currency options open up market

    Posted Nov 12th 2011, 12:00am

    ... fluctuations in the currency's value. According to the new rule published by the State Administration of Foreign Exchange (Safe) yesterday, Chinese exporters and importers can not only buy yuan ... to buy a certain amount of foreign currencies for a fixed price at a specified time in the future. The contract helps companies planning to import commodities or investors attempting foreign ...

  8. Warning over sky-high interest rates for dual currency credit cards

    Posted Oct 18th 2011, 12:00am

    ... Lo Wei The consumer watchdog is warning of a huge disparity in the interest charged for dual currency credit cards, rates for which can rise above 40 per cent a year for users who fail ... in Hong Kong and on the mainland are listed in separate accounts on the same statement, to be settled in the respective currencies. For retail purchases, the annualised percentage rate- the amount ...

  9. Global reserve currency proves to be a curse for the issuing country

    Posted Oct 15th 2011, 12:00am

    ... of a global-reserve-currency country and the needs of the world that uses that reserve currency. Triffin predicted that the reserve-currency country would run a current-account deficit to provide the world ... the accounting unit issued by the International Monetary Fund- as a possible global reserve currency. The logic for a globally issued reserve currency is impeccable. Nationally issued reserve currencies ...

  10. The ruinous costs of China's 'free-ride' currency policy

    Posted Oct 11th 2011, 12:00am

    ... currency. In Beijing, officials are indignant with outrage. Forcing China to appreciate its currency will benefit no one, they insist. But although they may well be right to argue that more rapid yuan appreciation will do little to support economic growth in the US, there is one country that would gain from a stronger yuan: China. The US politicians who support the Currency Exchange ...




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