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  1. Bid to make HK offshore centre for yuan trade

    Posted Dec 29th 2009, 12:00am by Staff Reporter

    ... Fanny W.Y. Fung in Beijing and Maria Chan Hong Kong will move a step closer to becoming an offshore centre for yuan business under a proposal to be studied by Beijing to allow mainland ... said the mainland would also explore the viability of using yuan for trade and project financing in Hong Kong, and would continue to strengthen the development of the yuan debentures business ...

  2. Scope of yuan trade should be broadened

    Posted May 05th 2009, 12:00am by Staff Reporter

    ... the problem and make Hong Kong the offshore centre for the yuan, Beijing was also considering a plan to allow recipients to trade their yuan reserves in the city, sources said. Mr Mak said the main ... Maria Chan Hong Kong's role as an offshore centre for the mainland's currency would be enhanced by Beijing's proposal to allow countries receiving its financial aid to trade ...

  3. IT outsourcing firms see risks, openings in downturn

    Posted Jan 20th 2009, 12:00am by Staff Reporter

    ... competitors made inroads with lower quotes. 'I'm left wondering whether I should move to the higher-end IT service market or simply shift to other trades to avoid the cutthroat ... as offshore customers from financial sectors in Europe and the United States drastically cut contracts. But Chinese technology outsourcers are suffering as armies of local SMEs, a substantial market, ...

  4. Yuan trade settlement yet to gain momentum

    Posted Sep 18th 2009, 12:00am by Staff Reporter

    ... although some are convinced it will be a long-term success. There were 66 yuan trade settlement transactions for 42.8 million yuan (HK$48.66 million) conducted between Hong Kong and the mainland in the first month of the pilot operation, according to the Hong Kong Monetary Authority. The People's Bank of China has said only 70 million yuan of trade was settled as of early this month. ...

  5. China National plans 20b yuan offshore plant

    Posted May 12th 2009, 12:00am by Eric Ng

    ... Eric Ng China National Offshore Oil Corp, the parent of giant offshore oil and gas producer CNOOC, plans to invest about 20 billion yuan (HK$22.8 billion) on an offshore engineering ... National is already investing more than 1 billion yuan to expand another offshore engineering and equipment production base in Qingdao, Shandong province, that is slated for completion by year-end. ...

  6. Yuan bond market 'to face pressure'

    Posted Jul 14th 2009, 12:00am by Staff Reporter

    ... by the mainland's trading partners, who would be seeking to park their funds in liquid and safe assets. Rising offshore yuan holdings would in turn force the mainland to face the challenge of loosening ... as an offshore centre for yuan trading, and yuan deposits in the city might expand to more than 400 billion yuan (HK$453.72 billion) from the current 53 billion yuan. If the yuan became widely accepted ...

  7. Beijing bid to expand HK's yuan business

    Posted May 04th 2009, 12:00am by Cary Huang

    ... in a significant move aimed at making the city a yuan offshore centre, sources say. Under a programme to gradually turn the yuan into an international currency, the State Council is studying a proposal ... is not fully convertible, can only be spent on buying products made in China. Under these circumstances, the government was considering a plan to allow nations receiving aid to trade their yuan ...

  8. BOCHK expected to benefit most from settlement trade plan

    Posted Jul 01st 2009, 12:00am by Staff Reporter

    ... Maria Chan Shares of BOC Hong Kong (Holdings) jumped as much as 5.28 per cent yesterday on speculation it would benefit most from the start of cross-border yuan settlement trade between ... Kong lenders would not gain too much from the scheme in the early stages because of the expected limited volume of trade, 'BOCHK could benefit more as a yuan settlement bank'. Hong ...

  9. Yuan link to herald new business

    Posted Mar 05th 2009, 12:00am by Staff Reporter

    ... Natalie Chiu Hong Kong bankers say they expect cross-border trade settlements in yuan to bring new opportunities from mainland companies, but suggest that the government implement support ... and the arrangements could be introduced as early as this month. At present, such trades are settled in Hong Kong and US dollars. Cross-border yuan settlement has been widely anticipated by the city's ...

  10. BlueChem to expand trading arm

    Posted Mar 30th 2009, 12:00am by Eric Ng

    ... Eric Ng China BlueChemical, the country's second-biggest maker of nitrogenous fertiliser, plans to expand its nascent trading operation, hoping the division will contribute 20 to 30 per cent of revenue in three to five years. The unit of oil and gas giant China National Offshore Oil Corp began its trading business in December last year and has so far sold 100,000 tonnes ...




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