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  1. Delegates to call for renminbi to be made legal tender in HK

    Posted Mar 10th 2009, 12:00am by Staff Reporter

    ... Fanny W. Y. Fung in Beijing Forty 40 members of the Chinese People's Political Consultative Conference are issuing a joint call to make renminbi legal tender in Hong Kong. The delegates said the use of renminbi would allow flexibility in transactions, especially when the US dollar-linked Hong Kong dollar was under pressure from market fluctuations. In a document ...

  2. Fall and rise of the renminbi: 'people's currency' rides out downturn to become a global powerhouse

    Posted Sep 25th 2009, 12:00am by Staff Reporter

    ... a discount if I paid in renminbi,' Yang said. Thanks to rapid economic growth in recent decades and the fact China has emerged relatively unscathed from the economic downturn, the renminbi's purchasing power has strengthened, as has its ability to resist sudden fluctuations. In Hong Kong and some Southeast Asian countries, shop owners have long provided mainland tourists ...

  3. Four cities chosen for renminbi trades

    Posted Mar 18th 2009, 12:00am by Paggie Leung

    ... Paggie Leung Guangdong has submitted a list of four pilot cities to the central government for the renminbi clearing scheme, which will allow companies to settle trades between ... for the renminbi settlement programme, Guangdong's Nanfang Daily reported. The proposal would allow about 300 companies in those cities to settle trade with enterprises in Hong Kong using the yuan, ...

  4. Decision on renminbi transactions welcomed

    Posted Apr 10th 2009, 12:00am by Dennis Eng

    ... will be able to make use of RMB [renminbi] resources. Therefore, it provides greater security in this particular time of need and definitely will then create more jobs for Hong Kong. This will have ...

  5. Tsang set to outline Hong Kong's role in renminbi clearing scheme

    Posted Apr 09th 2009, 12:00am by Paggie Leung

    ... Paggie Leung Chief Executive Donald Tsang Yam-kuen is expected to explain Hong Kong's role in the renminbi clearing scheme today after the State Council yesterday named Shanghai ... the nation's support for Hong Kong, saying that plans had been drawn up for renminbi trade settlement in the city, to be implemented as soon as they had received approval from the State Council. ...

  6. Risky business

    Posted Jul 31st 2009, 12:00am by Staff Reporter

    ... rapidly against the US dollar, but analysts said that China would further delay any appreciation of the renminbi. For buy-and-hold investors, if the yuan appreciates against the US dollar, on top ... the targeted 8 per cent. Sarasin forecasts that investors might see a stronger renminbi at the end of this year if production continues to improve. What's more, not all retail investors ...

  7. Cross-border travellers warned on fake banknotes

    Posted Jan 14th 2009, 12:00am by Clifford Lo

    ... notes seized rose by about 22 per cent last year. But there was no need to panic, the police's counterfeit expert said, as the quality of fake renminbi notes - even the latest batch seized ... surged because the renminbi has become more popular in Hong Kong since 1997. More department stores and shops are also accepting the currency. Police urged Hongkongers to be careful when ...

  8. Cashing in big on yuan trade

    Posted Apr 06th 2009, 12:00am by Staff Reporter

    ... manufacturers would not demand a price increase but would absorb the loss as a manufacturing cost. 'If we can settle trade transactions in renminbi with overseas buyers, we can use renminbi in our quotations, and require buyers to pay in renminbi. This would make our business more stable and we would not have to convert the income to renminbi to pay local expenses,' he said. Mr Tsui said ...

  9. Step up action on fake notes, banks told

    Posted Jan 24th 2009, 12:00am by Staff Reporter

    ... 'aimed to effectively fight against fake banknotes and safeguard the credibility and reputation of China's currency, the renminbi', it added. News of fake yuan notes widely circulating ...

  10. Panic over counterfeit 100 yuan notes spills across border into HK

    Posted Jan 10th 2009, 12:00am by Staff Reporter

    ... Staff Reporter Some money changers in Hong Kong are refusing to accept 100 yuan banknotes with serial numbers starting with HD90 as panic over fake mainland notes spills over the border. Hong Kong police said yesterday that they were staying in close cont ...




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