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

    Deals put Switzerland on path to becoming a yuan hub

    Posted Jul 22nd 2014, 12:29am by Jeanny Yu

    ... maintain financial stability". "Switzerland's potential as a [yuan] hub has three major aspects. It is a very strong asset management hub, with more than 5 trillion Swiss francs ... centres. In addition, the small and medium-sized enterprises based in Switzerland are very competitive exporters and there is room for growth if they embrace the [yuan]. "In future, I think ...

    http://www.scmp.com/business/banking-finance/article/1557114/deals-put-switzerland-path-becoming-yuan-hub
  2. Business - Banking & Finance - CURRENCIES

    Beijing's QDII scheme to increase outflow of yuan stalls

    Posted Jul 23rd 2014, 01:33am by Jeanny Yu

    ... financial crisis, according to a fund manager who declined to be named. Stefano Chao, investment manager at Shanghai-based AZ Investment Management, said the QDII scheme had been a victim of bad timing. "QDII is very unfortunate because it was introduced in 2007, when stock markets were at their peak," he said. "The financial crisis the year after led to massive losses, ...

    http://www.scmp.com/business/banking-finance/article/1557335/beijings-qdii-scheme-increase-outflow-yuan-stalls
  3. Business - Banking & Finance - CURRENCIES

    Delayed payments system stalls yuan’s global ambitions

    Posted Jul 09th 2014, 11:18am by Reuters

    ... the currency's use. A spate of agreements on yuan clearing with financial centres in Europe and Asia signed over the past month or so highlighted the importance of such a system for those ambitions. Yet ... say it is unlikely to be ready before 2016. The slippage might be good news for China's big clearing banks, such as Bank of China, and offshore yuan centres such as London or Singapore, ...

    http://www.scmp.com/business/banking-finance/article/1550191/delayed-payments-system-stalls-yuans-global-ambitions
  4. Business - Banking & Finance - CURRENCIES

    Yuan surges up currency rankings

    Posted Jun 28th 2014, 01:09am by Jeanny Yu

    ... financial centres such as London, Singapore and Frankfurt establish the necessary infrastructure and agreements to support [yuan] transactions, we will see the [yuan] grow significantly in these markets," he said. Swift operates the world's largest network facilitating the transfer of financial messages between banks. The market share of yuan usage in payments between entities based ...

    http://www.scmp.com/business/banking-finance/article/1542085/yuan-surges-currency-rankings
  5. Business - Banking & Finance - CURRENCIES

    HKMA on alert as it defends peg in first currency market intervention in 18 months

    Posted Jul 03rd 2014, 02:08am by Enoch Yiu

    ... as it defends peg The government has vowed to ensure the stability of the city's financial system in the face of external risks as it emerged yesterday that authorities had been forced to intervene ... the greenback, after the local currency had been pushed to the upper limit of the range that triggers intervention to support the peg. Financial market volatility … could impact on our property market ...

    http://www.scmp.com/business/banking-finance/article/1545170/systemic-risk-answers-sought-hkma-intervenes-currency
  6. Business - Banking & Finance - CURRENCIES

    CCB's London clearing bank prize seen as a major yuan milestone

    Posted Jun 16th 2014, 03:07am by Jeanny Yu

    ... and Agricultural Bank of China- to become the sole clearing bank for yuan settlement in London, the Financial Times reported on Thursday, citing unnamed sources. CCB declined to comment on the matter. ... that every lender is vying for, especially in London, the largest foreign exchange trading centre for the currency apart from Hong Kong. Two-thirds of yuan trading conducted outside the mainland ...

    http://www.scmp.com/business/banking-finance/article/1533605/ccbs-london-clearing-bank-prize-seen-major-yuan-milestone
  7. Business - Banking & Finance - CURRENCIES

    Mainland China banks set own yuan rates for retail clients

    Posted Jul 04th 2014, 01:41am by DON WEINLAND

    ... that the impact of the latest relaxation on the exchange rate would be limited, but it was a key signal for further financial liberalisation. Before the change in policy- which comes just months after ...

    http://www.scmp.com/business/banking-finance/article/1546129/mainland-china-banks-set-own-yuan-rates-retail-clients
  8. Business - Banking & Finance - CURRENCIES

    Yuan to trade directly with UK pound

    Posted Jun 19th 2014, 12:55am by Jeanny Yu

    ... outside the United States. "Given London's dominant position in the global forex market and the UK's sizeable banking sector, the potential for financial products would ... of the renminbi, which would prompt corporates to hedge their yuan exposure," he said. London is the second-biggest yuan foreign exchange centre with nearly 20 per cent of the market, while Hong Kong ...

    http://www.scmp.com/business/banking-finance/article/1535833/yuan-trade-directly-uk-pound
  9. Business - Banking & Finance - CURRENCIES

    Big challenges ahead for yuan to go global

    Posted Jun 30th 2014, 01:40am by Enoch Yiu

    ... that the Hong Kong dollar will pale in significance in the long term, with the yuan bound to play a bigger role. "It is unrealistic to expect a significant proportion of the international financial ... trading of stocks in Shanghai and Hong Kong. However, Cheung Wah-fung, a legislator for the financial services sector, said the scheme would not help in the push for the yuan to become ...

    http://www.scmp.com/business/banking-finance/article/1543257/big-challenges-ahead-yuan-go-global
  10. Business - Banking & Finance - CURRENCIES

    China Merchants Securities gets nod for commodities risk business in UK

    Posted Jun 27th 2014, 01:04am by Reuters

    ... relaxed controls over the last five years to establish the yuan as an international currency of trade, but London is competing with other financial capitals to secure a slice of the growing ...

    http://www.scmp.com/business/banking-finance/article/1541298/china-merchants-securities-gets-nod-commodities-risk

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