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  • April 23, 2014
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  1. Business - Banking & Finance - CURRENCIES

    BOC Hong Kong fends off new competition in yuan trading

    Posted Feb 17th 2014, 04:47am by KANIIS LI, Jeanny Yu

    ... of the gradual liberalisation of the tightly regulated currency control market, especially since Hong Kong, the testing ground for yuan internationalisation and the largest offshore deposit jurisdiction, plays an important role in the overall currency strategy. Two state-backed lenders, Bank of China's branch in Taipei and Industrial and Commercial Bank of China's branch in Singapore, ...

  2. Business - Economy - CURRENCIES

    China and UK in talks over London yuan clearing bank

    Posted Feb 20th 2014, 11:16am by Jeanny Yu

    ... and Singapore, to have a yuan clearing bank- an authorised intermediary for the exchange of the Chinese currency against US dollars or euros between banks on the mainland and offshore participating ... Chancellor of the Exchequer George Osborne said in a speech to business leaders in Hong Kong yesterday. "Ultimately what we all want to see is RMB being used more and more as a currency ...

  3. Shipbuilder out to minimise currency risks

    Posted Nov 24th 2011, 12:00am

    ... Keith Wallis in Rugao, Jiangsu keith.wallis@scmp.com The mainland's biggest privately controlled shipbuilder, China Rongsheng Heavy Industries, will tap international banks, especially those based in Hong Kong, for foreign currency financing. China Rongsheng president Chen Qiang said this was intended to reduce the foreign exchange risk between the greenback ...

  4. Hard currency

    Posted Dec 07th 2004, 12:00am by Stuart Biggs

    ... or fashion item. It is left to genuine collectors and tourists to give the SAR's new banknotes the attention they deserve. Which is a pity, because when regulators announced the paper currency ... a sense of national-currency pride, Hong Kong designs are far more personal, thanks to an issuing system that puts most of the design process in the hands of designers at HSBC, Bank of China, ...

  5. 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 ...

  6. Business - Banking & Finance - REMUNERATION

    Hong Kong employees at Asian banks expecting strong bonus season

    Posted Jan 07th 2014, 09:55am by George Chen, KANIS LI

    ... of China (Hong Kong), one of the city's three issuers of currency notes. Executives working for these banks said those in revenue-generating positions might receive a bonus equal to at least ...

  7. Business - Banking & Finance - CURRENCIES

    London challenges Hong Kong with BOC's yuan bond

    Posted Jan 09th 2014, 01:49pm by Jeanny Yu

    ... Jeanny Yu jeanny.yu@scmp.com London challenges HK with BOC's yuan bond Bank of China's London branch yesterday made a landmark bond issue, underscoring the city's potential as a hub of yuan fundraising for European debt issuers and posing a ...

  8. Quota shock proves that HK's yuan market is not free of risk

    Posted Nov 02nd 2010, 12:00am by Tom Holland

    ... with Tom Holland Players in Hong Kong's fast-growing offshore market for China's currency got a rude shock last week. On Thursday evening, the Hong Kong Monetary Authority ... that the currency is set to appreciate handsomely against an ailing US dollar. Demand for the yuan soared, with the value of yuan deposits in Hong Kong rocketing two-thirds between the end of June ...

  9. Yuan deposits soar 402pc to hit 314.9b yuan

    Posted Feb 01st 2011, 12:00am by Lulu Chen

    ... Lulu Chen Yuan deposits soared 402 per cent to 314.9 billion yuan (HK$373.43 billion) last year, boosted by trade settlement and currency exchange, the Hong Kong Monetary Authority said. ... flow of the currency was important for the long term and for the sustainable development of yuan business in Hong Kong. Yuan deposit rates remain relatively low compared with the mainland ...

  10. BOCHK tips 1m users for dual-pay credit cards

    Posted May 20th 2011, 12:00am

    ... Lulu Chen lulu.chen@scmp.com Bank of China (Hong Kong) said it had opened 725,000 dual-currency credit card accounts by March since launching the service in December 2008. The bank also launched the first dual-currency commercial card with China UnionPay yesterday, targeting Hong Kong corporate customers who frequently travel to the mainland for business. 'Given the closer ...




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