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  • July 14, 2014
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  1. 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 ...

    http://www.scmp.com/business/economy/article/1438811/yuan-falling-only-because-beijing-wants-it
  2. 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 ...

    http://www.scmp.com/article/991842/citys-offshore-trading-ambitions-dealt-double-blow
  3. Business - Banking & Finance - CURRENCIES

    China Merchants Securities gets nod for commodities risk business in UK

    Posted Jun 27th 2014, 01:04am by Reuters

    ... derivatives as it aims to build up a commodities business in London's planned offshore yuan clearing hub. China Merchants Securities (UK) plans to initially offer commodities risk-management ... then gradually extend to become a comprehensive investment bank", focusing on offshore yuan and cross-border initiatives between China and Europe, the Middle East and Africa, it said. The bank said ...

    http://www.scmp.com/business/banking-finance/article/1541298/china-merchants-securities-gets-nod-commodities-risk
  4. 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 ...

    http://www.scmp.com/business/banking-finance/article/1290727/yuan-funding-rules-eased-shore-hong-kongs-offshore-lead
  5. 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. ...

    http://www.scmp.com/business/banking-finance/article/1290108/london-confident-yuan-role
  6. Business - Banking & Finance - BANKING

    Banks rush to open branches before Shanghai free-trade zone anniversary

    Posted Jul 08th 2014, 01:54am by George Chen

    ... restrictions on the international use of the yuan currency. Li and other senior officials are expected to attend the first year anniversary celebration of the free-trade zone in October. Besides ... open special onshore and offshore trade accounts and how to make money transfers between different accounts. Follow the reporter on Twitter: @george_chen ...

    http://www.scmp.com/business/banking-finance/article/1549229/banks-rush-open-branches-shanghai-free-trade-zone
  7. Business - Banking & Finance - CURRENCIES

    Hong Kong's yuan interest rates rise towards Shanghai levels

    Posted Jun 07th 2014, 01:13am by BLOOM

    ... to the trading code of the offshore yuan. The People's Bank of China released detailed rules on May 22 for a free-trade account system in the Shanghai zone that would facilitate conversion ... yuan (HK$18.83 billion) in April, the smallest gain since August, as the yuan fell for a record fourth month versus the US dollar. Depreciation is dampening appetite for yuan just as offshore ...

    http://www.scmp.com/business/banking-finance/article/1527023/hong-kongs-yuan-interest-rates-rise-towards-shanghai-levels
  8. Business - Money - YUAN

    Investors demand tighter conditions on offshore bonds

    Posted Mar 31st 2014, 05:27am by Jeanny Yu

    ... Jeanny Yu jeanny.yu@scmp.com Stricter covenants demanded from offshore yuan bond issuers after defaults Investors demand tighter conditions on offshore bonds Offshore yuan investors ... will or will not conduct certain activities. For example, it usually states the limits on a borrower. China's recent two defaults are touching the nerves of offshore yuan investors, making them more selective ...

    http://www.scmp.com/business/money/markets-investing/article/1461324/investors-demand-tighter-conditions-offshore-bonds
  9. News - China

    Li Keqiang expected to discuss finance and trade deals on UK trip

    Posted Jun 13th 2014, 05:08am by Reuters

    ... high-speed rail, nuclear and finance deals during a trip to Britain next week, as well as London's role as an offshore yuan trading hub, a senior government official said yesterday. Li will meet ... operating in London in a push to make the British capital the main offshore hub for trading in renminbi and yuan-denominated bonds. Osborne also paved the way for Chinese investors to take majority ...

    http://www.scmp.com/news/china/article/1531123/li-keqiang-expected-discuss-finance-and-trade-deals-uk-trip
  10. Business - Banking & Finance - CURRENCIES

    Big challenges ahead for yuan to go global

    Posted Jun 30th 2014, 01:40am by Enoch Yiu

    ... become the seventh-most used payment currency, with more than 4 trillion yuan (HK$4.9 trillion) in trade settlements last year. For Beijing policymakers, that is only the start, having signalled their ambitions for the currency to compete with the US dollar for trade settlement and investment and, eventually, become a reserve currency for central banks. The growing use of the yuan ...

    http://www.scmp.com/business/banking-finance/article/1543257/big-challenges-ahead-yuan-go-global

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