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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. Yuan and Hong Kong

    Posted Jul 23rd 2005, 12:00am by Staff Reporter

    ... What's your view of the mainland's revaluing of the yuan, scrapping of the currency peg, and allowing the yuan to move against a basket of foreign currencies? What will the revaluation mean for Hong Kong? Share your views: write to us ...

  5. Locke renews pressure for yuan to float more freely

    Posted Jul 18th 2009, 12:00am by Staff Reporter

    ... the currency in January. However, Mr Locke tempered his call by giving credit to the Chinese government for making some progress on the yuan, a sign that the US is attempting to ease trade tensions as the two countries forge a deeper economic tie-up. 'Clearly, progress has been made,' Mr Locke said in a speech in Shanghai yesterday. 'We simply want other currencies to float ...

  6. 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 ...

  7. 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 ...

  8. Revaluation call may be heeded next year

    Posted Aug 20th 2003, 12:00am by Staff Reporter

    ... Mainland leaders will resist international pressure to revalue the yuan for as long as possible but are likely to begin compromising as early as next year, according to a leading economist with Citic Ka Wah Bank in Hong Kong. Liao Qun, chief economic stra ...

  9. 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 ...

  10. 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 ...




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