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  1. Shanghai drops offshore yuan trading hub dreams

    Posted Jul 22nd 2010, 12:00am by Enoch Yiu

    ... Daniel Ren in Shanghai and Enoch Yiu Shanghai has backed off from plans to establish itself as an offshore centre for yuan trading, leaving the field clear for Hong Kong to remain ... offshore centre in both Shanghai and Hong Kong. That statement triggered concerns about intensified rivalry between the two cities. An offshore yuan trading centre allows non-Chinese companies, ...

  2. Singapore seeks role as yuan trading centre

    Posted Apr 18th 2011, 12:00am

    ... agreement, according to a person familiar with the situation. Singapore is the latest of the cities that are lining up to compete with Hong Kong to become acknowledged offshore yuan trading centres ... Hong Kong operates a yuan settlement platform outside China. As such, lenders in Australia, the United States, or London, must eventually turn to Hong Kong to settle the offshore yuan trades ...

  3. Singapore threat to HK role as yuan trading hub

    Posted Feb 21st 2012, 12:00am

    ... Enoch Yiu enoch.yiu@scmp.com Hong Kong's role as a leading offshore yuan trading centre is facing a challenge, with some companies preferring to settle yuan trades in Singapore- ... Hong Kong remained the major offshore yuan trade settlement platform, with 1.91 trillion yuan (HK$2.34 trillion) worth of yuan trades settled by banks in the city last year, out of a total ...

  4. Beijing gives yuan boost to HK

    Posted Nov 23rd 2011, 12:00am

    ... the city's role as a major offshore yuan trading centre. The new agreement between the People's Bank of China (PBOC) and the Hong Kong Monetary Authority (HKMA) will supersede the accord signed ... September. Standard Chartered bank economists attribute the volatility partially to the exhaustion of the trade conversion quota for offshore yuan. The latest move would produce a 'useful ...

  5. Yuan exchange cap will stay in place, PBOC says

    Posted Jul 01st 2012, 12:00am

    ... which was announced during a visit yesterday by People's Bank of China deputy governor Hu Xiaolian, puts the city at a disadvantage to the other offshore-yuan trading centres, London ... overseas companies to issue yuan-denominated, or 'dim sum', bonds locally to strengthen the city's role as an offshore yuan trading centre. Louis Tse Ming-kwong, director of VC ...

  6. Three banks to offer yuan accounts to non-residents

    Posted Aug 01st 2012, 12:00am

    ... strengthened Hong Kong as an offshore yuan trading centre. This provides new opportunities and a good, profitable business for banks,' said Anita Fung, chief executive of HSBC Hong Kong. 'The ... Three lenders will offer yuan services for non-residents from today as part of a move to expand their business in that currency, after yuan trade settlements rose to a record high in June. ...

  7. B.O.C. tipped to open Shanghai headquarters

    Posted Feb 22nd 2012, 12:00am

    ... A spokeswoman for the Bank of China in Beijing would not comment. The central government announced earlier this month it was keen to establish Shanghai as a hub for yuan trading, clearing and pricing, which is part of broader efforts to turn Shanghai into a financial centre like London or New York by 2020. Hong Kong is developing itself as an offshore yuan trading centre and over the long ...

  8. Vice-premier boosts HK role as yuan trade hub

    Posted Aug 18th 2011, 12:00am

    ... the currency by these new measures. 'Most importantly, the vice-premier has confirmed Hong Kong's role as an offshore yuan trading centre for China. This would help Hong Kong fend off rivals ... Kong and the mainland and strengthening the city's role in the internationalisation of the yuan. The business community and trade organisations generally welcomed Li's proposals, made ...

  9. HKEx unveils blueprint for yuan share trading

    Posted Mar 03rd 2011, 12:00am by Enoch Yiu

    ... to manage yuan share issues last year in the hope of seeing Hong Kong become a key offshore yuan trading centre. Beijing currently restricts investors from exchanging more than 20,000 yuan a day. ... Enoch Yiu Hong Kong Exchanges and Clearing plans to introduce a 'yuan trading support facility' in an effort to ensure investors have enough currency to fuel expected demand ...

  10. Hang Seng yuan deposits surge after revaluation

    Posted Jul 25th 2005, 12:00am by Staff Reporter

    ... will rise a cumulative 7 per cent by the end of the year, to trade at 7.8 yuan against the US dollar. The bank forecasts a further 8 per cent appreciation next year. Mr Or said the yuan's revaluation will not necessarily help the local banking sector's proposal for Beijing to turn Hong Kong into a yuan offshore trading centre. As a first step towards providing a regulated channel ...




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