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  • November 26, 2014
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Results 1 - 10 of 432 for offshore yuan trading

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  1. Business - Comment - MONITOR

    Hong Kong's offshore yuan market is driven largely by tax dodgers

    Posted Dec 06th 2012, 12:00am by Tom Holland

    ... Tom Holland Speculation not the only thing behind the mainland currency's growth, as data points to soaring cross-border trade being settled in yuan HK's offshore yuan market ... well over 1 trillion yuan. That's almost half the total amount of yuan trade settled in the city. In short, it's highly likely the size of Hong Kong's offshore yuan market has ...

  2. Business - Banking & Finance - FINANCE

    London pushes ahead with yuan ambitions

    Posted Dec 03rd 2012, 12:00am by Enoch Yiu

    ... to discuss what role London could play in offshore yuan trading. A working group formed by leading Hong Kong and British banks, including HSBC, Standard Chartered Bank, Industrial and Commercial Bank ... Enoch Yiu in London enoch.yiu@scmp.com More and more British firms trading with Chinese companies are beginning to show a preference for settlement in yuan London pushes ahead with yuan ...

  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. 'Easier' yuan spurs foreign-fund wave

    Posted Dec 15th 2011, 12:00am

    ... and used across borders. Wang said the mainland wanted Hong Kong to play a more active role as an offshore yuan trading centre. '[The city] has an [irreplaceable] role in the development ... Hong Kong's secretary for financial services and the treasury, said the new rules would boost the city's status as an offshore yuan trading hub. In October alone, Hong Kong's ...

  5. HKMA: banking outlook remains bright with overseas collaboration

    Posted Sep 16th 2011, 12:00am

    ... May Chan may.wychan@scmp.com The future of Hong Kong's banking industry remains bright if local lenders are willing to collaborate with overseas banks in offshore yuan trading, said ... said in an interview after attending an investment forum in London earlier this week. 'Not all overseas companies are willing and able to manage offshore yuan accounts,' he said. ...

  6. HK faces stiffer race as yuan trade centre

    Posted Jan 13th 2011, 12:00am by Enoch Yiu

    ... Enoch Yiu Hong Kong is facing more competition from rival cities in the race to become an offshore yuan trading centre as lenders in New York, London and Singapore begin offering services ... through the trade settlement scheme. Our position as offshore yuan centre is not being affected.' Carmen Ling, head of Hong Kong global transaction services at Citi, said the bank offered ...

  7. Boost for HK as yuan trading hub

    Posted Jun 15th 2012, 12:00am

    ... Enoch Yiu, Lulu Chen and Jane Cai in Beijing To further boost the city's role as an offshore yuan trading centre, Beijing is set to announce new initiatives to coincide with the visit ... for Hong Kong is critical. 'The central government will continue to push ahead with the plan to build Hong Kong into an established offshore centre for yuan trading,' Song said. ...

  8. Business - Economy - CURRENCY

    HKMA supports Shanghai as onshore yuan hub

    Posted Dec 13th 2012, 12:00am by REN WEI

    ... the mainland in quickening the pace of internationalisation of the local currency. In January, Shanghai unexpectedly announced it would make the city a global centre for yuan trading by 2015, stoking fears in Hong Kong that the mainland's financial hub was readying to eat into its currency trade business. Hong Kong is the world's largest offshore yuan trading centre, where ...

  9. Dim sum bonds short on real filling

    Posted Feb 13th 2011, 12:00am by Jasper Moiseiwitsch

    ... Officials were looking to establish in Hong Kong the means for international companies to settle cross-border trades in yuan. The July rulings allowed offshore companies to deposit, withdraw, lend and borrow yuan in Hong Kong, to encourage offshore companies to pay for imports and exports in yuan. But very few companies as yet have taken advantage of their newfound freedom to settle trades ...

  10. Business - Banking & Finance - CURRENCIES

    China to 'allow full yuan convertibility' by 2015

    Posted Sep 13th 2012, 12:00am by JANE CAI AND DANIEL REN

    ... in the early 2000s, but the Asian financial turmoil in 1997-98 deterred mainland officials from moving forward with the plan. Hong Kong now acts as an offshore yuan trading centre where non-Chinese companies, institutions and residents can actively trade the currency and settle trade deals. Full convertibility of the yuan would mean the city's role as a dominant offshore yuan centre would ...




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