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  • September 22, 2014
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  1. HK, mainland seal 200b yuan currency swap

    Posted Jan 21st 2009, 12:00am by Cary Huang

    ... billion) currency swap, part of Beijing's efforts to support the city's depressed economy and bolster financial stability in the region. The HKMA said yesterday the move was intended ... have access to yuan from the mainland central bank for three years, whenever the city needed 'short-term liquidity support', the PBOC said yesterday. Currency swap lines allow ...

  2. Counterfeit US currency probe nears the end of the road

    Posted Jun 20th 2007, 12:00am by Staff Reporter

    ... Greg Torode An intriguing Hong Kong sideshow to the US Treasury Department's crackdown on North Korea in Macau is poised to reach its conclusion. US authorities will soon obtain more than US$2.67 million from Hong Kong bank accounts linked to trade in North Korean counterfeit US currency and cigarette smuggling, according to Hong Kong government officials. The funds have ...

  3. Business - Money

    Hong Kong mints new batch of HK$5 coins for first time in 14 years

    Posted Oct 02nd 2012, 12:00am by Enoch Yiu

    ... Enoch Yiu enoch.yiu@scmp.com It was released in August while new HK$2 coins are to be circulated in December First new HK$5 coin minted in14 years The Hong Kong government has quietly begun issuing new HK$5 coins, for the first time in 14 years. A newly m ...

  4. On balance, yuan liquidity pools are still far out of sight

    Posted Oct 07th 2010, 12:00am by Jake Van Der Kamp

    ... the yuan is a free floating currency and all restrictions on it have been removed. This is a stock exchange idea of heaven. It would certainly make Li's career soar. But... hmmm... yes, we're not quite there. The mainland's capital account remains firmly closed and the yuan a rigged currency, which is entirely understandable. Opening the capital account is about the most ...

  5. Landmark yuan deal brings new products

    Posted Jul 20th 2010, 12:00am by Enoch Yiu

    ... and the People's Bank of China was signed yesterday. The deal signed by HKMA chief executive Norman Chan Tak-lam and PBOC deputy governor Hu Xiaolian allows financial institutions to open mainland currency ... currencies, commodities and equity indices. Interest on these products will be paid in yuan. 'This is a great step forward for yuan liberalisation,' Sundeep Bhandari, Standard ...

  6. Slowdown in sales seen as 'just a breather'

    Posted Aug 11th 2010, 12:00am by Sandy Li

    ... Sandy Li Property consultants have put a positive spin on the recent slowdown in sales activity, saying prices have not peaked yet and that the market is just taking a breather before continuing its upward momentum. The first week of the month saw transac ...

  7. HSBC lends HK$18b to SMEs, says worst over

    Posted Nov 21st 2009, 12:00am by Staff Reporter

    ... Maria Chan Hongkong and Shanghai Banking Corp, the Asia-Pacific unit of HSBC Holdings, said it had granted HK$17.9 billion to small and medium-sized enterprises from its HK$20 billion SME loan fund since December last year and was cautiously upbeat. Alber ...

  8. Banks' earnings are expected to rebound

    Posted Nov 14th 2009, 12:00am by Staff Reporter

    ... Maria Chan Profit at most Hong Kong lenders is expected to rebound this year, despite a weak start in which aggregate pre-tax first-quarter profit fell 9.7 per cent year on year, analysts say. Dominic Chan, an analyst at BNP Paribas, said bank profits had ...

  9. Exchange Fund reports HK$52.8b reduction in surplus for January

    Posted Feb 28th 2009, 12:00am by Staff Reporter

    ... foreign-currency assets decreased HK$13 billion to HK$1.43 trillion. Separately, Hong Kong's deposits fell 1.2 per cent last month. Yuan deposits in Hong Kong declined 3 per cent to 54.4 billion yuan ...

  10. Exchange Fund expects second quarterly loss

    Posted Jun 27th 2008, 12:00am by Staff Reporter

    ... Maria Chan HKMA warns of worst half-year performance since 2001 The Exchange Fund, a reserve which backs the Hong Kong dollar, is set for its worst half-yearly performance in seven years as global market turmoil contributes to mounting losses. Joseph Yam ...




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