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  • August 20, 2014
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  1. Beijing backing for HK as yuan trading centre

    Posted Mar 06th 2012, 12:00am

    ... Gary Cheung and Tanna Chong in Beijing, Colleen Lee Beijing supports Hong Kong's drive to develop into an offshore yuan trading centre, Premier Wen Jiabao reiterated yesterday. Wen's pledge marks the first time the central government has included its backing for the development of offshore yuan business in Hong Kong in its work report, although it also made ...

  2. Tax law on offshore gains reviewed

    Posted Mar 31st 2005, 12:00am by Enoch Yiu

    ... Enoch Yiu The government has proposed a further easing of rules governing profit tax exemption for offshore funds. In a paper presented to legislators yesterday for discussion next week, the government said it would now accept the earnings of offshore funds trading in derivatives, foreign exchange gains and asset management as exempt from the 17.5 per cent profit tax. Initially, only ...

  3. Obama still to forge yuan policy despite Geithner remarks, US says

    Posted Jan 28th 2009, 12:00am by Staff Reporter

    ... posted on December 1 its biggest one-day fall against the dollar since mainland authorities introduced a narrow trading band for the currency in July 2005. The yuan closed at 6.8519 per dollar ... to save its export-driven economy. In the offshore non-deliverable forwards market, the one-year forward contract for the yuan was at 7.0785 against the dollar, reflecting market expectations ...

  4. Central Bank governor in HK next week

    Posted Sep 09th 2003, 12:00am by Gary Cheung

    ... is circulating in Hong Kong. Senior central government officials said earlier that Hong Kong would be made a preferred offshore centre for yuan trading, but no timetable has been set. ... But the China Securities Journal reported yesterday that Mr Zhou would meet Hong Kong officials to discuss the introduction of yuan-deposit services in the city. Last month, Financial Secretary Henry ...

  5. U.S. threat on yuan seen as pure politics

    Posted Oct 13th 2011, 12:00am

    ... Cary Huang in Beijing cary.huang@scmp.com Analysts say a US bill threatening Beijing with tariffs if it does not lift the value of the yuan is politically motivated and would do nothing ... States to be taking this step at this moment in time poses a very severe risk of a trade war and unintended consequences that could come as a result,' House Speaker John Boehner said ...

  6. Hawkish commander heads South Sea Fleet

    Posted Jul 10th 2012, 12:00am

    ... sovereignty claims in the region which is rich with oil and gas. Beijing recently announced the establishment of Sansha city to administer three island chains, while China National Offshore Oil ...

  7. Islanders vote to allow Taiwan's first casino

    Posted Jul 08th 2012, 12:00am

    ... of the Legislative Yuan in Taipei. Some leaders from the ruling Kuomintang and opposition Democratic Progressive Party (DPP) have expressed fears over the bill. And many young Matsu locals who work in Taipei and other cities on the main Taiwan Island returned home yesterday to try to persuade relatives to cast opposing votes. Wang Chien-shien, president of Taiwan's Control Yuan, said: 'It ...

  8. GST on our trade reverse step for HK, warn brokers

    Posted Jul 28th 2006, 12:00am by Ambrose Leung, Dennis Eng

    ... Dennis Eng and Ambrose Leung Stockbrokers have warned that imposing a goods and services tax on their trade will be a backward step in Hong Kong's bid to reaffirm its position ... as the government already charged stamp duty on stock transactions. Mr Espina said the government had abolished estate duty, exempted offshore funds from paying profits tax and introduced other measures ...

  9. Talk of trade war is too frightening

    Posted Oct 12th 2011, 12:00am

    ... on China's trade policies, in which he accused it of 'gaming' the system to its advantage by keeping the yuan weak. This came after US Federal Reserve chairman Ben Bernanke told ... For years now wiser heads have prevailed over attempts in the US to punish China for holding down the value of the yuan. The issue has remained contained within bilateral dialogue. ...

  10. Beijing warns of 'trade war' over US currency bill

    Posted Oct 05th 2011, 12:00am

    ... 'seriously violated rules of the World Trade Organisation'. Ministry of Commerce spokesman Shen Danyang said the United States was trying to pass on the blame for its own failings. 6.38 The yuan ... Cary Huang in Beijing cary.huang@scmp.com Beijing has warned Washington that it risks triggering a trade war with legislation being considered by the US Senate that would punish China ...




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