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  • October 23, 2014
  • Last updated: 1:46pm
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  1. HK banks near yuan trade

    Posted Jul 26th 2003, 12:00am by Raymond Ma

    ... deposit-taking, remittances, foreign exchange and credit card services denominated in yuan on a trial-run basis, subject to approval from the mainland authorities. After attending a trade fair, Mr Tung also said Hong Kong would be given fast-track access when China liberalised its capital controls to allow for the creation of offshore yuan centres. The Hong Kong Monetary Authority (HKMA), has ...

  2. Yuan trading boosts prospects for banks

    Posted Nov 19th 2003, 12:00am by Christine Chan, Enoch Yiu

    ... yuan business should provide a host of new income opportunities, but the short-term financial benefit will be limited because banks will not be allowed to lend out the yuan they collect. 'The arrangement for Hong Kong banks to conduct [yuan] business will open a new channel for the flow of [yuan] funds between Hong Kong and the mainland through the banking system,' Hong ...

  3. Easing pressure on the yuan

    Posted Sep 05th 2003, 12:00am by Staff Reporter

    ... China and its trading partners agree on the need for an easing of restrictions on exchange of the yuan; the difference of opinion concerns timing. While the US and others want ... after its 1990s boom-bust cycle, and for this reason a freely trading yuan is likely to be many years away. Even so, we can expect to see China's trading partners keep up the pressure ...

  4. Hong Kong as a trading post for the renminbi

    Posted Aug 25th 2003, 12:00am by Tony Latter

    ... to manage their renminbi finances perfectly well, essentially via the onshore market. Meanwhile, at the retail level, in Hong Kong we have an efficient offshore yuan banknote market which meets ... the World Trade Organisation, would make huge inroads. By the same token, the mainland authorities may not welcome a burgeoning offshore market in Hong Kong, unless their own banks can secure ...

  5. Offshore hopes boost BOCHK to fresh high

    Posted Aug 19th 2003, 12:00am by Staff Reporter

    ... Laggard Bank of China (Hong Kong) touched a fresh high yesterday, with investors snapping up the counter on hopes it will benefit from the proposed offshore yuan business under the closer ... for the bank from the cyclical upturn next year and the potential offshore renminbi business,' Lehman Brothers analyst Tracy Yu said. It has an 'overweight' rating on the stock ...

  6. In Brief

    Posted Aug 22nd 2003, 12:00am by Staff Reporter

    ... largely due to strong market demand for its services. Turnover rose 10.2 per cent from 1.3 billion yuan (HK$1.22 billion) to 1.43 billion yuan, while profit from operations grew 23.4 per cent to 376.6 million yuan. Profit attributable to shareholders soared 50.5 per cent to 326.8 million yuan. An interim dividend of 1.23 fen was proposed. Sinopec Shanghai Petro expects better results ...

  7. Exporters slide on fears of potential trade war

    Posted Nov 20th 2003, 12:00am by Staff Reporter

    ... the newly-approved offshore yuan business would raise the sector's net profit by 1.1 per cent or $770 million next year and 1.6 per cent or $1.25 billion in 2005. BOC Hong Kong, Bank of East Asia ... Nichole Chan The Hang Seng Index suffers from profit taking as US quotas dampen sentiment Investors locked in profits yesterday on concerns a potential trade war between China ...

  8. TV maker threatens to move offshore

    Posted Aug 21st 2003, 12:00am by Staff Reporter

    ... yuan (HK$112.48 million) joint venture with a Guangzhou city government-backed firm. The venture holds the rights to domestic TV brand Rowa, which has a foothold in the Guangdong market. ...

  9. Japanese investors to tap yuan bonds

    Posted Oct 06th 2003, 12:00am by Christine Chan

    ... Nikko, the first to launch a fund for mainland-issued assets, hopes to attract buyers seeking higher yields offshore Japanese savings investors' desperate need for higher returns suggests that a ground-breaking fund investing in mainland-issued yuan bonds could be the first of many. China looms large on the radar screen of the world's largest creditor nation that has ...

  10. HK retailers turning yuan into gold

    Posted Sep 02nd 2003, 12:00am by Sandy Li

    ... to companies in Hong Kong, as they used the local currency or the greenback to pay for raw materials sourced from overseas. 'That's why there is an urgency to set up an offshore yuan trading ... to their operations in China, which would make their operations more convenient,' Mr Yu said. Ms Ng said an offshore yuan trading market would help Hong Kong retailers and other sectors of the economy ...




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