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  1. 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 ...

  2. 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 ...

  3. Shanghai moves to further open financial markets

    Posted Jun 20th 2009, 12:00am by Cary Huang

    ... support Hong Kong's role in pioneering yuan offshore business while it would concentrate on domestic yuan business. With the US dollar's leading position in world business hit hard by the global financial crisis, Beijing has sped up its programme to internationalise the yuan. In April, the central government decided to allow Hong Kong and Macau to use the yuan for trade settlement ...

  4. Plan sees yuan as a world currency

    Posted Aug 31st 2009, 12:00am by Cary Huang

    ... Cary Huang in Beijing Vice-Premier Wang Qishan has been put in charge of a task force to make the yuan a currency for international trade, an experiment in which Hong Kong is expected ... to come up with proposals on the yuan's internationalisation,' the economist said. Mr Wang, whose portfolio is in foreign trade and finance, is also the Chinese point man in the Sino-US ...

  5. Beijing backs Shanghai goal as finance hub

    Posted Mar 26th 2009, 12:00am by Martin Zhou, Peter So

    ... to Shanghai,' said Stephen Green, Standard Chartered Bank's chief China economist. 'Beijing does want to encourage companies to use yuan as an invoicing currency in international trade ... That could help China overcome the financial crisis, Xinhua reported. Explicit in the State Council's endorsement is that Beijing will make its currency, the yuan, fully convertible by 2020, ...

  6. Yuan disappointment inevitable whether Beijing revalues or not

    Posted Apr 09th 2010, 12:00am by Tom Holland

    ... with the China-bashers in the US Congress, the likes of senators Charles Schumer and Lindsey Graham, who blame the US trade deficit on the undervaluation of the yuan and are threatening punitive tariffs against ... against the dollar and by nearly 27 per cent against a trade-weighted basket of currencies (see the second chart). Still China's critics insisted the yuan was undervalued by about 20 per ...

  7. Partnership strengthens

    Posted Oct 04th 2011, 12:00am

    ... adds. 'Hong Kong's influence as an offshore centre for yuan cross-border settlement is increasing. As a gateway to the Chinese market, its strategic importance has been enhanced,' ... is a well-developed trade outpost and a springboard to promote its business opportunities into the Pearl River Delta and within the mainland. 'Korea and Hong Kong are each other's sixth largest ...

  8. Business Digest

    Posted Aug 06th 2012, 12:00am

    ... freezes bank deposits of Tianrui units The Hangzhou Intermediate People's Court issued on July 26 a civil ruling to freeze 129 million yuan (HK$156.9 million) of deposits in the bank accounts ... as demand weakens China Qinfa Group, the nation's largest privately owned coal trading and logistics firm, said first-half profits were expected 'to be significantly less' than ...

  9. Talking points

    Posted Aug 02nd 2012, 12:00am

    ... floors of the new Hysan Place, will be the biggest bookshop in town. Veterans of Hong Kong's book trade are divided over whether the newcomer's presence on their turf will be a boost ... developers over a 45,500 square metre site on Shanghai's Bund, for which Shanghai Zendai successfully bid 9.22 billion yuan (HK$11.3 billion) in February 2010. Fosun International, which bought ...

  10. Mainland firms tap overseas markets

    Posted Jun 27th 2012, 12:00am

    ... of this month. It prelaunched the development to buyers in Guangzhou in February this year at a price of around 35,000 yuan (HK$42,650) per square metre and has reportedly sold more than half of the 70 ... said other ambitious domestic developers might be looking to follow the example of such offshore investors, particularly as the mainland housing market continued to shrink under the pressure ...




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