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  • September 19, 2014
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  1. London eyes a slice of offshore yuan trade

    Posted Nov 11th 2010, 12:00am by Naomi Rovnick

    ... Naomi Rovnick London is set to become an offshore yuan trading centre, according to the United Kingdom's Chancellor of the Exchequer. In a speech in Hong Kong yesterday, Chancellor ... allowed Hong Kong to build up a very small renminbi deposit base, currently standing at 150 billion yuan, so banks here can experiment with yuan trading and yuan-denominated investment products. ...

  2. China hopes to halve trade surplus this year

    Posted Apr 16th 2010, 12:00am by Denise Tsang

    ... trade balance. Washington accuses Beijing of holding down the yuan's value to favour Chinese exporters and creating a staggering trade surplus, a charge state leaders have denied. ... in the trade surplus this year, while Bank of America-Merrill Lynch has forecast the surplus will shrink. The US has been pressing China to allow the yuan to resume rising against the US dollar. ...

  3. Stronger yuan not about to ease trade tensions

    Posted Sep 16th 2010, 12:00am by Denise Tsang

    ... Denise Tsang The yuan's climb to its highest level since 1994 is not likely to ease tensions between China and its US and European trade partners over the value of the currency. ... to further ratchet up pressure on Beijing, as the currency issue remains a thorny subject in Sino-US trade relations. They expect the yuan to continue to strengthen gradually until the end ...

  4. Brouhaha over trade surplus and weak yuan makes little sense

    Posted Jun 22nd 2010, 12:00am by Jake Van Der Kamp

    ... with Jake van der Kamp US lawmakers and manufacturers have criticised China for keeping the yuan undervalued to benefit its exporters. SCMP, June 21 It is the old line of talk and we can expect it any time there is also talk of movement in the yuan to US dollar exchange rate, as there has once again been in Beijing at the weekend. But talk is cheap, they say. And this time ...

  5. Manufacturers nervous ahead of US yuan report

    Posted Mar 29th 2010, 12:00am by Denise Tsang

    ... last week saw Vice-Minister of Commerce Zhong Shan travel to Washington to lobby US business leaders on the benefits to global trade of a stable yuan exchange rate and the risks of a trade spat between the countries. Earlier, Premier Wen Jiabao said China did not want a currency and trade war, while Minister of Commerce Chen Deming said the yuan exchange rate was not the root cause ...

  6. Advance of the state sector is not the triumph it seems to be

    Posted Sep 07th 2010, 12:00am by Tom Holland

    ... by the central government's State-owned Assets Supervision and Administration Commission (Sasac) made combined profits of 543 billion yuan (HK$620 billion), up more than 60 per cent from the same period last year. Their revenues over the first six months of the year were 7.8 trillion yuan, equal to an astonishing 45 per cent of the mainland's first-half gross domestic product. ...

  7. Commerce minister signals stronger yuan

    Posted Sep 09th 2010, 12:00am by Denise Tsang

    ... on export orders, he said on the sidelines of the United Nations Conference for Trade and Development's 2nd World Investment Forum. Chen added that the yuan value was linked to a basket ... cent, bringing them close to a loss. Beijing has pressed on with plans to make the yuan more global in the past few months by allowing more mainland cities to settle trade in yuan and overseas ...

  8. Increasing imports point to trade deficit in first three months

    Posted Jan 28th 2011, 12:00am by Denise Tsang

    ... the value of the yuan. Washington has accused Beijing of suppressing the currency to favour Chinese exporters. In March last year China recorded a trade deficit for the first time in six years, ... over the yuan's strength After a record US$295 billion in 2008, the mainland's trade surplus last year fell to, in US dollars: $183b ...

  9. Scrapping of tariffs unlikely to upset ties with US, EU

    Posted May 31st 2005, 12:00am by Staff Reporter

    ... Institute for International Studies, said the root of the conflict lay in the yuan peg and the US trade deficit. 'The textile issue is now being used to pressure China to revalue the yuan,' she said. But she did not think trade conflicts would jeopardise relations with Washington and Brussels. 'You see trade conflicts between China and the US emerging every year but our ...

  10. History shows that yuan appreciation won't help

    Posted Mar 19th 2010, 12:00am by Tom Holland

    ... with fresh intensity. On one side, members of the US Congress accuse Beijing of keeping the value of the yuan artificially low in order to steal an unfair trade advantage for Chinese companies ... of Chinese consumers, helping to rebalance the domestic economy. In international markets, yuan appreciation should trim China's trade surplus while allowing increased US exports to reduce ...




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