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  1. Trade concerns as yuan on the rise in Australia

    Posted Mar 21st 2011, 12:00am by Enoch Yiu

    ... by overseas companies. The Sydney visit was the first in a series of roadshows planned by the authority to promote Hong Kong as an offshore yuan trading centre. Chan said besides mining companies, ... they could also develop as offshore yuan trading centres. But Chan played down the competition pressure. 'As the yuan is used more in the international world, it will be natural to see other ...

  2. Rules hamper use of yuan for overseas investment

    Posted Jun 14th 2011, 12:00am

    ... offshore, suggesting more reforms are needed. Beijing's moves to relax its currency regime since mid-2009 and turn Hong Kong into an offshore yuan-trading centre have had mixed results. Yuan bond issuance in Hong Kong, yuan trade settlements and deposits have all ballooned over the past year, but in the five months since getting permission to use the yuan instead of US dollars, ...

  3. Shanghai challenge to HK's yuan hub

    Posted Jan 31st 2012, 12:00am

    ... for the yuan within three years, directly competing with Hong Kong's own ambitions for offshore trading in the mainland currency The National Development and Reform Commission (NDRC) ... It's more likely that Shanghai will act as an onshore yuan trading centre for mainland firms and Hong Kong will be the offshore trading centre for yuan for international investors.' ...

  4. Beijing closer to taking yuan international

    Posted May 21st 2011, 12:00am

    ... of the forum. 'Hong Kong, as an offshore yuan centre can help raise yuan before they are transferred back to the mainland for investments,' he added. An offshore trading centre allows ... Ka-keung. The liberalisation follows a pilot scheme in July 2009 when Beijing allowed companies to settle trades in yuan. Zhou Xiaochuan (pictured), governor of the People's Bank of China, told ...

  5. Yuan deposit growth slowing

    Posted Nov 04th 2011, 12:00am

    ... Lulu Chen lulu.chen@scmp.com Yuan deposits in Hong Kong may have dropped significantly last month due to falling trade volumes with the mainland and a weakening of the currency ... itself into an offshore centre for the currency, they remained positive in the long-term. They added it was critical that Hong Kong created more yuan products to broaden investment channels. Hong ...

  6. Jockeying for position

    Posted May 18th 2012, 12:00am

    ... when Beijing really started to push its currency offshore, it picked Hong Kong to be the sole proving ground to settle cross-border trade in yuan. It was among the first steps in a long-term ... an onshore yuan trading market, while Hong Kong develops as an offshore yuan business centre. But there is cause for future unease. 'If the yuan became fully convertible some day, the offshore ...

  7. Beijing eases rules on using offshore yuan

    Posted Oct 15th 2011, 12:00am

    ... Enoch Yiu enoch.yiu@scmp.com Beijing has issued guidelines allowing foreign companies to use yuan held offshore instead of US dollars to finance their mainland projects as it steps up ... yuan trading centre. Hong Kong's yuan investors have profited from the appreciation of the currency, which has gained more than 20 per cent against the US dollar since 2004. But companies ...

  8. 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 ...

  9. 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 ...

  10. 'Economic nonsense' paints a different picture of yuan debate

    Posted Apr 01st 2010, 12:00am by Tom Holland

    ... the yuan to appreciate that ever since last October the offshore forward market has consistently priced in yuan appreciation over the following 12 months (see the second chart below). That's ... of the yen's value against the US dollar in the late 1980s eliminated neither Japan's trade surplus nor the US deficit. Similarly, a stronger yuan would simply make the goods that America imports ...




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