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  • October 24, 2014
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  1. Local banks seek northern exposure

    Posted Sep 18th 2010, 12:00am by John Cremer

    ... Hang to do 'practically everything' that a retail bank based there can do. The real excitement, though, now centres on prospects for offshore renminbi business and the extent to which it will become available for transactions outside the mainland, particularly since it is still not fully convertible. 'I'm sure this year, the offshore renminbi will be a topic of particular ...

  2. Banking on a convergence of talent

    Posted Oct 01st 2011, 12:00am

    ... Hilda Poon China's longer-term internationalisation and full convertibility of its currency have spurred the money market in Hong Kong so much that deposits in Chinese renminbi have grown exponentially over the few past years. As a result, the city's banking industry is bullish on the growing business opportunities from renminbi deals, which is good news ...

  3. 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 ...

  4. Pioneer yuan bond sets stage for more issues

    Posted Jul 10th 2007, 12:00am by Andy Chen, Charlotte So

    ... Kong investor demand for renminbi-denominated investment instruments, including high-quality renminbi bonds'. 'The first issue of renminbi bonds forms a good basis for the further development of the renminbi bond market in Hong Kong,' he said. 'It has also opened up a new channel for financial intermediation between Hong Kong and the mainland,' he added. The HKMA ...

  5. Banks and shops gear up for yuan business

    Posted Dec 29th 2003, 12:00am by Kelvin Chan

    ... renminbi much earlier than most other retailers in Hong Kong. Mr Yu, director of the Yue Hwa chain of stores selling Chinese products, said his was the first department store to start taking renminbi in Hong Kong, shortly after the handover in 1997. 'Actually, mainland tourists had been coming to us way before the handover,' said Mr Yu, who is also chairman of the Hong Kong ...

  6. Love notes

    Posted May 30th 2011, 12:00am

    ... for yuan-denominated investment products is expected to be keen. 'The renminbi floodgates are very much open. Short term, medium and long term, people are interested in the renminbi story,' says Kenneth Ho, Julius Baer's head of products in Asia Pacific. 'Renminbi appreciation is at the top of everyone's list,' says Ho, who believes the currency could appreciate ...

  7. Higher rates expected to raise interest with savers

    Posted Nov 19th 2003, 12:00am by Kelvin Chan

    ... it is likely they will be higher than those offered for the Hong Kong dollar. And with the renminbi and the Hong Kong dollar both effectively pegged to the US greenback, the yuan accounts would allow opportunities for interest rate arbitrage with little risk. Furthermore, the possibility that the central government could let the renminbi appreciate would also be an tempting gamble. At HSBC, term ...

  8. Indian bank to open two more branches in China

    Posted Mar 07th 2012, 12:00am

    ... presence with 172 outlets in 34 countries. Contractor said a few Indian companies were now settling trade deals with their Chinese partners in renminbi after Beijing unveiled its ambitions to internationalise the currency. 'We are encouraging our customers to use renminbi for trade settlement,' Chaudhuri said. 'But I think it might take a little longer for renminbi to receive ...

  9. Dim Sum bond flies off menu

    Posted Sep 24th 2011, 12:00am

    ... Nick Walker There's been no shortage of column-space devoted to the so-called arguably undervalued renminbi (RMB)- or yuan- which many observers, feel should be valued at a significantly higher rate. The RMB's value is kept down because it is the currency of a command economy, and Beijing has habitually kept a tight control over its currency flows, to better manage ...

  10. London faces liquidity test in yuan-hub bid

    Posted Jul 03rd 2012, 12:00am

    ... and to offer Western investors the chance to invest in renminbi products, Boleat said. To expand the currency's capacity and transaction volumes in London, the corporation is advising banks ... to become the largest yuan payment contributor earlier this year, accounting for about 47 per cent of all yuan payments. Renminbi commercial loans in London reached 280 million yuan last year, trade ...




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