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  • August 1, 2014
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  1. City's offshore trading ambitions dealt double blow

    Posted Feb 06th 2012, 12:00am

    ... The plan to establish Shanghai as the hub for yuan trading, clearing and pricing is part of broader efforts to make the city a financial centre like London or New York by 2020 and is a setback for Hong Kong, which had hoped to become the chosen centre for trading in the currency. Analysts now believe that with more cities competing to expand their yuan markets and with the appreciation ...

  2. Business - Banking & Finance - CURRENCIES

    Yuan surges up currency rankings

    Posted Jun 28th 2014, 01:09am by Jeanny Yu

    ... Jeanny Yu jeanny.yu@scmp.com Use of mainland currency in trade makes it No2 payment type between China and rest of world Yuan moves higher in globalrankings The yuan has become the second-most popular currency in cross-border transactions between China and the rest of the world, driven by its greater use in global trade and investment as offshore yuan hubs spring up, according ...

  3. Business - Banking & Finance - VIRTUAL CURRENCY

    Chinese bitcoin firms plan to go offshore to sidestep crackdown

    Posted May 12th 2014, 11:42am by DANNY LEE

    ... Danny Lee in Beijing danny.lee@scmp.com Digital currency firms plan relocation and offshore banking to avoid mainland crackdown Bitcoin traders will go overseas to sidestep rules Chinese ... is considering shifting its operations abroad to protect its customers. "We are trying to create an offshore account and to go international," Leon Li, founder and chief executive ...

  4. Business - Economy - MONITOR

    The yuan is falling, but only because Beijing wants it to

    Posted Mar 03rd 2014, 02:59am by Tom Holland

    ... at the end of last year the entire stock of yuan-denominated deposits in Hong Kong's offshore market only came to 860 billion yuan. Handling such big flows causes problems for the PBOC. It can ... appreciating. But that attracts even more inflows. What's more, since mid-2011 the yuan has already gained by about 20 per cent against a trade-weighted basket of currencies. With many other ...

  5. Business - Banking & Finance - FINANCING

    Growing demand spurs borrowing costs of offshore yuan in Hong Kong

    Posted Jun 23rd 2014, 03:08am by Jeanny Yu

    ... Jeanny Yu jeanny.yu@scmp.com Borrowing costs soar as banks tighten lending and more remittance channels are available Growing demand spurs rates on offshore yuan Borrowing costs of offshore yuan in Hong Kong surged to their highest levels in a year last week as banks became more reluctant to part with their money in the run-up to the end of the half-year and demand for funds ...

  6. Business - Banking & Finance - CURRENCIES

    Yuan funding rules eased to shore up Hong Kong's offshore lead

    Posted Jul 26th 2013, 12:00am by Enoch Yiu

    ... been required. It is true that Hong Kong still has the first-mover advantage in being an offshore yuan trading centre but there is no monopoly for Hong Kong to do yuan business An HKMA ... is true that Hong Kong still has the first-mover advantage in being an offshore yuan trading centre but there is no monopoly for Hong Kong to do yuan business," the spokesman said. "As ...

  7. Business - Banking & Finance

    London confident on new offshore yuan role

    Posted Jul 25th 2013, 02:18am by Jane Cai and Enoch Yiu

    ... said that since Hong Kong had the largest offshore pool of yuan deposits and remained the largest trading and debt capital market centre, the proposed PBOC payment system should serve only ... it will eventually become a reserve currency like the US dollar. Hong Kong was the first offshore yuan trading centre, but London, Paris, Singapore and Sydney have joined the race in the past two years. ...

  8. Business - Banking & Finance - REFORM

    Shanghai free-trade zone seen as way to boost appeal of panda bonds

    Posted Jun 23rd 2014, 03:08am by Jeanny Yu

    ... Jeanny Yu jeanny.yu@scmp.com Officials hopeful that foreign companies with entities in Shanghai's testing ground will embrace yuan bonds to tap the local debt market Free-trade zone seen as way to boost panda bond appeal After the pilot Shanghai Free Trade Zone project aimed at smoothing cross-border yuan flows, encouraging foreign firms to sell so-called "panda ...

  9. Business - Money

    Singapore bourse to trade first SGD-yuan stock

    Posted Jul 25th 2013, 02:31pm by Reuters

    ... Reuters in Singapore Yangzijiang Shipbuiding Holdings will be the first stock on the Singapore Exchange to be traded in both Singapore dollar and yuan, as Singapore pushes for bigger share in offshore yuan market. Trading will begin from August 5, the company said in a statement. Giving equity investors the option of trading yuan-denominated stocks marks another incremental step ...

  10. Comment - Insight & Opinion

    Demand for yuan remains strong

    Posted Apr 23rd 2013, 12:00am by CANDY HO

    ... Candy Ho Candy Ho sees investors taking a more sober view after heady early days Demand for yuan remains strong,despite some easing After four years of heady expansion, the offshore ... data. Notwithstanding the cheapness of dollar borrowing and the fact that mainland banks have reached their quota limits on new offshore paper, new issues surged close to 47 billion yuan (HK$58 ...




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