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  1. Desire for stability at heart of renminbi's foundation

    Posted Oct 20th 2011, 12:00am

    ... Ed Zhang ed.zhang@scmp.com The history of how the renminbi came to be China's official currency is a telling example of why the leaders in Beijing, even today, strive so hard ... was known in Putonghua as 'renminbi'. From the first day it was issued, the goal of the currency, as defined by the bank, was to ensure stability. But that stability didn't come ...

  2. Comment - Insight & Opinion

    Offshore yuan market gets into its stride

    Posted Aug 20th 2012, 12:00am by Donna Kwok

    ... The offshore renminbi market in Hong Kong has just turned two years old and the currency has made extraordinary strides. Since it took its first toddler steps in July 2010, the daily turnover in the offshore renminbi foreign exchange market has risen from essentially nothing to US$4billion, and one-tenth of China's trade is now settled in its home currency, up from 2per cent two years ...

  3. Hong Kong as a trading post for the renminbi

    Posted Aug 25th 2003, 12:00am by Tony Latter

    ... When the world is eventually presented with a fully convertible renminbi - as it surely will be, although it is a bold person who predicts the timing - where is most financial business ... what can we make of the recent announcement that the central government has agreed to give preference to Hong Kong in the context of offshore renminbi business and to 'consider ...

  4. 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 ...

  5. How to nurture a blooming currency

    Posted Oct 20th 2011, 12:00am

    ... Ed Zhang in Beijing ed.zhang@scmp.com More often than ever before, people are talking about the renminbi. As developed nations face fiscal problems, especially in Europe, where the euro ... high-income countries'. But exactly how much financial influence the mainland will have is a mystery- especially as to how the renminbi will be used by consumers and investors around the world. ...

  6. Burning issue

    Posted Oct 13th 2011, 12:00am

    ... for by regular trade alone. I suspect much of it can be explained by people abandoning the Hong Kong dollar and opting for renminbi assets via underground channels in southern Guangdong. So, I say, ... printing presses? When can we finally be rid of the Hong Kong dollar and use the renminbi instead? Adopting the renminbi as the official currency in Hong Kong has many other benefits, aside from ...

  7. Yuan see-saws to record high against dollar

    Posted Jun 18th 2011, 12:00am

    ... Lulu Chen Lulu.chen@scmp.com The yuan reached yet another record high against the US dollar yesterday before weakening slightly amid the intense market volatility of the past two days. On Thursday, the US dollar strengthened on the back of the Greek debt ...

  8. Slow down the yuan, says analyst

    Posted Feb 22nd 2008, 12:00am by Tom Miller

    ... to the weakening pressure on the renminbi to appreciate, together with the continued presence of asset price inflation, it is necessary to reduce the speed of yuan appreciation and to widen the yuan's ...

  9. Yuan's strength reaches only so far

    Posted Apr 14th 2008, 12:00am by Jake Van Der Kamp

    ... with Jake van der Kamp 'While all Asian currencies bar the South Korean won gained yesterday, the focus was on the yuan's historic breakthrough.' SCMP headline, April 11 History is very short, I see. The yuan was stronger than six to the US ...

  10. Money dealers shut up shop on the yuan

    Posted Jul 22nd 2005, 12:00am by Anita Lam

    ... are no longer worth that much. Buying renminbi is okay, but any selling of the currency will have to wait till tomorrow,' he said. He said he would not revise the rate until today, as he wanted ... or selling renminbi tonight will still be using the old rate,' said a dealer in Wan Chai. A manager at Man Fook Jewellery in Wan Chai welcomed the news. 'A stronger renminbi stimulates our ...




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