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  • April 18, 2014
  • Last updated: 7:48pm
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  1. Business - Banking & Finance - CURRENCIES

    Yuan decades away from being global reserve currency

    Posted Apr 11th 2014, 10:18am by Victoria Ruan

    ... observers say the mainland currency has more often been chased by speculators than serving as a US dollar-type "safe haven". The central government has made clear its ambition to boost ... they also say the mainland needs to deepen its financial reforms to build a deep and liquid enough market and make its monetary decision-making more transparent and independent, among other steps ...

  2. Business - Banking & Finance - CURRENCIES

    Hong Kong urged to expand its advantage in yuan trade

    Posted Apr 12th 2014, 12:59am by Ray Chan, Jeanny Yu

    ... be more proactively bringing in new issuers from developed countries as the mainland's financial market opens up. "Islamic finance is probably the new growth area for Hong Kong, where ... much from mainland investors sitting on a pile of yuan. However, Shute warned that a lack of urban planning on the part of the city government might pose a threat to commercial development ...

  3. Business - Banking & Finance - CURRENCIES

    Yuan rebound likely amid Beijing's bid to stem capital flight

    Posted Apr 09th 2014, 01:40am by BLOOM

    ... said Craig Chan, Nomura's head of currency strategy for Asia ex-Japan. "Capital flight could be very large and destabilising for the domestic market." The mainland is trying ... known as target redemption forwards. Morgan Stanley estimated last month that there were about US$150 billion of the contracts outstanding, held mainly by mainland companies, and these were ...

  4. Business - Banking & Finance - CURRENCIES

    Yuan to be fully convertible by 2017, says Gulliver

    Posted Mar 28th 2014, 01:40am by Jeanny Yu

    ... the mainland currency to become fully convertible by 2017, one year earlier than his original forecast, thanks to the accelerating pace of Beijing's efforts to push forward its financial reforms. ... process will not slow down. If anything, it will increase in speed STUART GULLIVER, HSBC Despite the overall sanguine picture, he admitted there could be "difficult choices" for mainland ...

  5. Business - Economy - CURRENCIES

    Does the yuan matter?

    Posted Mar 24th 2014, 09:08am by Derek Scissors

    ... the yuan matter? The mainland's currency policy is not worth the attention it is getting. It is not at all important compared with other market distortions in the Chinese economy, ... that it is unclear whether the yuan would rise or fall if the capital account were opened. In other words, the mainland's financial system is so distorted it is impossible even to tell if the yuan ...

  6. Business - Economy - CURRENCIES

    Volatile yuan tires Hong Kong exporters out

    Posted Mar 24th 2014, 04:45am by Denise Tsang

    ... year. The PBOC's decision to widen the trading band means a more volatile yuan and greater uncertainty in foreign trade, which in turn aggravates mainland policymakers' already ... the mainland meet its growth target, economists said, with some also pointing to other factors such as growth in domestic consumption and investment. Beijing has been facing growing pressure to unleash ...

  7. Business - Banking & Finance - CURRENCIES

    Bets on appreciation no longer the driver of yuan deposits in Hong Kong

    Posted Mar 25th 2014, 01:32am by Jeanny Yu

    ... it is the continued growth of the economy and the weight of the mainland economy as both a trading nation and a provider of finance for the global financial system." Yuan deposits and outstanding yuan ...

  8. Business - Banking & Finance - CURRENCIES

    Singapore snapping at Hong Kong's yuan heels

    Posted Mar 24th 2014, 04:45am by Jeanny Yu

    ... Jeanny Yu jeanny.yu@scmp.com Business in the mainland currency is booming in Singapore, which aims to handle an amount equivalent to a third cleared in Hong Kong Singapore snapping ... also shoulder some of the responsibilities of China's central bank in the offshore market. All the Big Four banks on the mainland want this job, because this is associated with many other ...

  9. Business - Banking & Finance - CURRENCIES

    Surge in yuan holdings by banks prompts concern in Seoul

    Posted Mar 20th 2014, 01:35am by Reuters

    ... as mainland banks aggressively raise funds overseas in response to tighter credit back home. Because the won cannot be directly converted into yuan, the deposits are built through a structured product ... if their deposits are used to fund risky loans on the mainland that subsequently go sour. The four banks being inspected were Bank of China, Industrial and Commercial Bank of China, China Construction Bank ...

  10. Business - Banking & Finance - CURRENCIES

    Shanghai official's vow on imminent freeing up of yuan a bone of contention

    Posted Mar 18th 2014, 08:22am by George Chen

    ... with its senior officials locked in a debate over when the mainland's foreign exchange controls should be lifted. Some officials even argue there should not be a clear timetable for yuan ... liberalised across the mainland. Premier Li Keqiang has repeatedly said he wants advances in Shanghai's free-trade zone to be implemented elsewhere. Meanwhile, more than a dozen cities ...




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