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  • August 2, 2014
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  1. Business - Banking & Finance

    HSBC and Standard Chartered among first Shanghai free-trade zone banks

    Posted Sep 10th 2013, 12:00am by KANIS LI

    ... in the free-trade zone to provide unrestricted banking services similar to the offshore yuan trading offered by HSBC, Standard Chartered and other banks in Hong Kong, which are already popular ... and bankers, with some worrying the city's position as an offshore yuan-trading centre and its financial industry might be threatened by Shanghai's rise. ...

  2. Yuan trading experts in demand

    Posted Feb 09th 2012, 12:00am

    ... HSBC staff with knowledge of yuan trading could escape the bank's massive lay-off plan as the lender moves to make London a hub for the currency. The bank, the largest lender ... an offshore yuan centre. 'Given Gooding's strong markets and product knowledge, he is ideally suited to drive this initiative,'' HSBC said in the appointment statement. His team ...

  3. 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 ...

  4. Business - Banking & Finance - BONDS

    HSBC and Citi compete for Asian bond supremacy

    Posted Jul 07th 2014, 05:26am by Bloomberg

    ... offering of notes in the US currency by an Asian issuer in more than a decade. The amount matched a sale in November 2003 by Hutchison Whampoa. CNOOC, the mainland's largest offshore explorer, ... Amit Sheopuri, a co-head of debt capital markets at Citi. Along with deal size, the list of banks on larger trades is also growing. China Petrochemical picked 13 banks to underwrite its bond ...

  5. Business - Banking & Finance - MARKETS

    HSBC, Standard Chartered sell yuan bonds in Singapore

    Posted May 27th 2013, 07:06pm by Reuters

    ... of its currency abroad. Industrial and Commercial Bank of China has begun yuan-clearing in Singapore, the world's fourth-largest foreign exchange trading centre and the main Asian base for oil and commodity traders. Separately, Singapore Exchange yesterday launched depository services for yuan-denominated bonds in a bid to support the city's development as an offshore hub ...

  6. Yuan bond market 'to face pressure'

    Posted Jul 14th 2009, 12:00am by Staff Reporter

    ... by the mainland's trading partners, who would be seeking to park their funds in liquid and safe assets. Rising offshore yuan holdings would in turn force the mainland to face the challenge of loosening ... as an offshore centre for yuan trading, and yuan deposits in the city might expand to more than 400 billion yuan (HK$453.72 billion) from the current 53 billion yuan. If the yuan became widely accepted ...

  7. News - World - IRAN

    Iran lobbies HSBC to clear humanitarian transactions

    Posted Jun 24th 2014, 09:45pm by Reuters

    ... Reuters in London and Ankara Bank has blocked transfers for humanitarian goods, over worries about breaching sanctions Tehran lobbies HSBC to allow trade financing Iran is lobbying to get HSBC to process humanitarian trade transactions that Europe's biggest bank has frozen because of concerns about breaching international sanctions. French bank BNP Paribas is facing a fine ...

  8. 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. ...

  9. Business - Banking & Finance - BONDS

    HSBC unit taps into onshore debt market

    Posted Dec 16th 2013, 04:28am by Jeanny Yu

    ... a favoured asset class, especially to offshore yuan investors looking for greater returns than the low deposit rates offered by banks. Foreign investors have been barely able to access the market, ... of the yuan and make it a global trade, investment and reserve currency. "China is the world's fourth-largest bond market after the United States, Japan, and France," said Joanna Munro, ...

  10. Bank on convertibility

    Posted May 15th 2012, 12:00am

    ... country's ambition to boost London as an offshore trading centre for the yuan. The Federal Reserve revealed that three of the mainland's largest state-owned banks, Bank of China, ... yuan convertibility. Tim Condon, chief Asia economist of ING Bank, says China needs a currency befitting of an economy that accounts for 10 per cent of global trade. He says it is remarkable ...




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