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  • July 23, 2014
  • Last updated: 2:03am
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  1. Business - Banking & Finance - CURRENCIES

    Mainland China banks set own yuan rates for retail clients

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

    ... Don Weinland don.weinland@scmp.com Beijing's latest easing on exchange rate with greenback comes in lead-up to talks with US Mainland banks set own yuan rates for retail clients Mainland banks set their own exchange rates for the yuan against the US dollar for the first time yesterday in deals with retail clients, following the latest steps by the People's Bank ...

  2. Business - Banking & Finance - CURRENCIES

    Deals put Switzerland on path to becoming a yuan hub

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

    ... In addition, Switzerland has been a hot destination for mainlanders to buy insurance policies. Swiss Export Risk Insurance said the value of new engagement in insurance policies sold to Chinese ...

  3. Business - Banking & Finance - CURRENCIES

    Delayed payments system stalls yuan’s global ambitions

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

    ... with mainland China in 11 major economies. Some 26 per cent of French corporates and 23 per cent of German companies now settle trades in the Chinese currency, the highest proportion apart from mainland ...

  4. 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

    ... Enoch Yiu enoch.yiu@scmp.com First intervention in 18 months as authority monitors potential shocks from mainland and risk of fallout from US Fed's tapering policy HKMA on alert ... report in May which highlighted growing exposure of the city's financial system to potential shocks from the mainland and the risk of fallout from an anticipated tightening of US monetary ...

  5. Business - Banking & Finance - CURRENCIES

    China Merchants Securities gets nod for commodities risk business in UK

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

    ... Reuters in Sydney Commodities-risk nod for China Merchants UK unit Mainland investment bank China Merchants Securities says it has received British regulatory approval to broker listed ... services to meet mainland demand for hedging global natural resources price risks, while aiding the internationalisation of the yuan, China Merchants Securities said on its website. "It would ...

  6. Business - Banking & Finance - CURRENCIES

    Big challenges ahead for yuan to go global

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

    ... is not at the expense of the Hong Kong dollar HKMA SPOKESMAN The currency began its march on June 29, 2009, when the central banks of the mainland and Hong Kong signed a deal to allow lenders in the city ... trade between mainland Chinese and foreign companies after the dollar, according to payment firm Swift. Against the backdrop of a boom in transactions, bankers expect continued growth ...

  7. Business - Banking & Finance - CURRENCIES

    Yuan surges up currency rankings

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

    ... Jeanny Yu jeanny.yu@scmp.com Use of mainland currency in trade makes it No2 payment type between China and rest of world Yuan moves higher in globalrankings The yuan has become ... helping increase yuan deposits and bolstering formation of offshore yuan capital pools. "Hong Kong has the most-established and largest [yuan] corridor with mainland China, but as other ...

  8. 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

    ... yuan milestone China Construction Bank's appointment last week as the sole yuan clearing bank in London is a milestone step to grow mainland banks' market share in the city ... The move surprised some bankers as Bank of China had been thought the most likely candidate to win the lucrative clearing business since it was the only mainland lender with a branch in the city. ...

  9. Business - Banking & Finance - CURRENCIES

    PBOC keeps yuan traders guessing as currency rallies

    Posted Jun 11th 2014, 01:15am by BLOOM

    ... traders guessing as currency rallies Mainland policymakers have been saying since February that two-way swings in the yuan are the "new norm". A surprise surge in the currency shows ... direction again after the government reported the mainland's trade surplus almost doubled and the central bank set the reference exchange rate yesterday at the strongest level since March. ...

  10. Business - Banking & Finance - CURRENCIES

    Hong Kong's yuan interest rates rise towards Shanghai levels

    Posted Jun 07th 2014, 01:13am by BLOOM

    ... Bloomberg in Hong Kong Move comes as depreciation hits international investors' appetite for the mainland currency HK's yuan rates rise towards Shanghai levels Yuan interest ... of the currency and allow mainland companies to obtain financing from overseas. President Xi Jinping called the area an "important step" in China's reform process during his visit ...




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