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  1. High interest in Hong Kong's new renminbi bank accounts

    Posted Feb 26th 2004, 12:00am by Carrie Chan

    ... Carrie Chan With the debate over patriotism raging, businessman Eddie Luk Ngai-ming yesterday expressed his love for his country in a different way: by opening a renminbi account at Bank of China headquarters. Yesterday was the first day that Hong Kong banks could offer their customers renminbi deposit accounts. But unlike most people who were attracted by higher interest rates ...

  2. US Treasury team in capital for talks on revaluing renminbi

    Posted Feb 26th 2004, 12:00am by Staff Reporter

    ... Allen T. Cheng in Beijing US Treasury officials yesterday started two days of talks on the renminbi with representatives of the People's Bank of China. The visit by the six-member ... the renminbi, but he did get an agreement for the two sides to work together to reform China's financial and banking system so the currency can float in the future. 'This is a technical ...

  3. HK and China discussing greater role for Renminbi bonds

    Posted Aug 24th 2004, 12:00am by Andy Chen, Judy Ngao

    ... institutions to issue Renminbi bonds. Renminbi bonds are bonds issued in mainland currencies- Renminbi or yuan. Mr Tang said late on Monday the discussions focused on whether issuing the bonds would be beneficial to both sides. Local currency bond issues allow multinational companies and organisations to reduce currency risks and match their funding needs with sources of capital. The Renminbi bond ...

  4. Heated economy loses some steam

    Posted Jun 11th 2004, 12:00am by Staff Reporter

    ... renminbi loans rose 18.6 per cent to 17 trillion yuan at the end of May, 1.3 percentage points lower than in April. Huang Yiping, China economist with Citigroup in Hong Kong, said the rise ... total outstanding renminbi loans rose 18.6 per cent to 17 trillion yuan at the end of May, 1.3 percentage points lower than growth in April. ...

  5. Harvard dean urges yuan revaluation

    Posted Apr 03rd 2004, 12:00am by Chris Yeung

    ... of Chinese have been buying renminbi offshore, they must think it's going to be appreciated.' He said the yuan could be revalued by about 20 per cent. Professor Vietor, who is an expert ...

  6. New Products

    Posted Feb 29th 2004, 12:00am by Staff Reporter

    ... HSBC marked a milestone on Thursday with the launch of its renminbi financial services. A special renminbi deposit account at the bank will earn up to 0.35 per cent per annum, far above ... for deposit services under their existing HSBC Premier or PowerVantage accounts, or set up a standalone savings account. The bank says it hopes to introduce a credit card on renminbi accounts ...

  7. February 25 start for yuan banking

    Posted Feb 08th 2004, 12:00am by Hannah Lee, Patsy Moy

    ... of the People's Bank of China said banks could begin offering renminbi deposit, remittance and foreign exchange services on February 25. The bank's governor, Zhou Xiaochuan, was speaking after meeting Monetary Authority chief executive Joseph Yam Chi-kwong yesterday morning. No date had been given until yesterday, although Hong Kong banks were allowed to promote renminbi services from ...

  8. Bank raises cash limit for travellers

    Posted Dec 03rd 2004, 12:00am by Staff Reporter

    ... Staff Reporter Ceiling on amount that can be taken in and out of country raised to 20,000 yuan Beijing will raise the ceiling on the amount of renminbi that can be taken in and out ... 1. It is the first time the bank has raised the limit in 11 years. Beijing imposed a ban on the export of renminbi in 1951. In 1987, citizens were allowed to take 200 yuan in and out ...

  9. Counterfeit yuan banknotes surge into circulation

    Posted Jan 21st 2004, 12:00am by Ella Lee, Stella Lee

    ... Fook-cheun, head of the Commercial Crime Bureau, said: 'Given the rise in the popularity of the use of renminbi in Hong Kong and the number of [mainland] visitors to Hong Kong, such an increase ...

  10. Overseas Chinese hear Taiwan plea

    Posted May 11th 2004, 12:00am by Josephine Ma

    ... government's position on keeping the yuan stable, saying progress on moving towards currency reform would have to be gradual. 'In the past, you could not use renminbi when you visited Hong Kong,' he said. 'Now, they [shops in Hong Kong] all welcome you if you pay with renminbi.' He also defended the policy of controlling the migration of rural labourers into the cities, ...




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