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  • November 28, 2014
  • Last updated: 8:42am
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  1. Business - Banking & Finance - CURRENCIES

    China seeks accord on yuan-sterling swaps with UK

    Posted Mar 08th 2013, 12:00am by Ray Chan

    ... is likely to become a hub for yuan business in Europe after Hong Kong He said a yuan-sterling swap agreement would be an important step in spurring offshore yuan trade and investment activities in Europe, China's largest trading partner. Fang said he expected the City of London to be appointed as the next authorised offshore yuan clearing centre after Hong Kong, Taiwan and Singapore ...

  2. Business - China Business - CURRENCIES

    China bulls buy record yuan structured notes

    Posted Jan 30th 2013, 12:00am by Bloomberg

    ... to agree a swap line with China's central bank that would help London become a centre for offshore yuan trading, its chief cashier, Chris Salmon, said in London last week. Taiwanese banks will be able to take deposits of and lend in yuan by the Lunar New Year. Offshore trading in the yuan started in Hong Kong in 2010, where average volume of yuan deals has doubled in the past year ...

  3. Business - Economy - FINANCIAL SERVICES

    Shanghai yuan role 'no threat' to London

    Posted Sep 24th 2013, 12:00am by Enoch Yiu

    ... Enoch Yiu enoch.yiu@scmp.com The free-trade zone will increase transaction volumes in offshore yuan hubs such as the UK capital, lord mayor of the city's finance district says Shanghai yuan role 'no threat' to London The experiment in full yuan convertibility through the new free-trade zone in Shanghai will boost transaction volumes in offshore foreign exchange ...

  4. 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. ...

  5. 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 ...

  6. Business - Economy - CURRENCIES

    British Columbia eyes yuan hub as China trade grows

    Posted Nov 24th 2014, 03:57am by Jeanny Yu

    ... trading partner in the coming decade, propelled by its efforts to build an offshore yuan trading hub. The province has been a long-time supporter of Beijing's plans for internationalisation ... a pact with the city government to promote cross-border yuan trade and set up an offshore yuan centre in California. De Jong expects the attitudes of Canadian businessmen to change fundamentally ...

  7. Short-selling rule coming, SFC says

    Posted May 24th 2011, 12:00am

    ... yuan-denominated products as Hong Kong moved to become an offshore yuan-trading centre. China is gradually loosening restrictions on its currency to increase its use in international transactions, and has allowed cross border yuan trade settlements since 2009. Last July, the People's of Bank of China relaxed its regulatory regime to allow yuan investment products such as yuan funds, yuan ...

  8. Business - Money - CURRENCIES

    Yuan hits its stride as offshore hubs catch up

    Posted Oct 31st 2014, 06:04am by Jeanny Yu

    ... high last month, in the latest sign that the currency is fast spreading out of China as other global financial hubs catch up with Hong Kong in yuan trade. Payments between offshore yuan hubs, ... in the offshore market to support trade and finance activities. "As China becomes ever more important to international businesses, the internationalisation of the [yuan] is creating opportunities ...

  9. Reality check on Shanghai ambition

    Posted Feb 08th 2012, 12:00am

    ... The latest example is the announcement that Shanghai will become the global centre for yuan trading, clearing and pricing within three years and compete directly with Hong Kong's position as an offshore yuan trading hub. A target of 1,000 trillion yuan in market volume helps dramatise the sense of rivalry. Along with a recent fall in yuan deposits in Hong Kong, Shanghai's ambition ...

  10. Business - Banking & Finance - BANKING

    UK rules holding back China banks

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

    ... Enoch Yiu in London enoch.yiu@scmp.com UK rules holding back China banks To fulfil its ambition of becoming an offshore yuan trading centre, London would need to wait for the Bank ... said. "This will also affect London's plan to become an international yuan trading centre." Mark Boleat of the City of London, said this is a big policy issue. All non-European ...




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