• Sunday
  • September 21, 2014
  • Last updated: 3:31pm
Hong Kong




Refine Your Search

Sort by

Search Results

Results 1 - 10 of 21 for renminbi

Search results

  1. 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 ...

  2. A stronger yuan would hurt HK, analysts warn

    Posted Sep 15th 2003, 12:00am by Kelvin Chan

    ... in the event of a stronger mainland currency, says a veteran analyst. The US has pressured the Chinese government in the past few months to allow the renminbi to rise in value because it claims the undervalued currency is wiping out jobs. But a strengthening yuan would hurt Hong Kong badly by making China's exports seem more expensive, economists and exporters say. 'If the renminbi ...

  3. More gains ahead forecast for yuan

    Posted Oct 03rd 2010, 12:00am by Nick Westra

    ... of a pick-up in China's economic growth next year,' the report said. It forecast the renminbi would be at 6.43 yuan per US dollar by the end of the third quarter of next year. Meanwhile, ... and Investment Bank said the renminbi was unlikely to surge in the near term even though US lawmakers called for substantial appreciation. 'How this will be achieved is a conundrum altogether, ...

  4. Economic concessions may not help Snow

    Posted Sep 05th 2003, 12:00am by Staff Reporter

    ... a revaluation of the yuan would hurt the US. 'If renminbi revalued 10 per cent, then the US would have to pay US$10 billion extra in import prices,' he said, referring to the fact that the US imports US$100 billion more from China than it exports, and the fact that US consumers have come to rely on cheap Chinese imports. 'If renminbi rose by 50 per cent, the US would have to pay ...

  5. London eyes a slice of offshore yuan trade

    Posted Nov 11th 2010, 12:00am by Naomi Rovnick

    ... George Osborne said London 'as a partner of Hong Kong, is developing new businesses, including the internationalisation of the renminbi'. He did not give further details, but added: ... allowed Hong Kong to build up a very small renminbi deposit base, currently standing at 150 billion yuan, so banks here can experiment with yuan trading and yuan-denominated investment products. ...

  6. A polite dressing down for US on textile quotas

    Posted Nov 20th 2003, 12:00am by Staff Reporter

    ... Yiping, China economist with US-based Citigroup in Hong Kong, said he believed the textile move was in compensation for recent back-peddling on a planned frontal assault on the renminbi. 'The ... a renminbi revaluation. 'This move on textiles against China is actually quite small. It only targets three textile items and not the whole array of textiles.' By imposing quotas on only ...

  7. Hu stands his ground on dollar peg

    Posted Oct 20th 2003, 12:00am by Staff Reporter

    ... the renminbi exchange rate stable serves China's economic performance and conforms to the requirements of economic development in the Asia Pacific region and the whole world.' Mr Hu and Mr ... various contributions to financial and economic stability in Asia and the world at large. 'We will follow the same approach of responsibility to the renminbi exchange rate this time.' Mr ...

  8. China hopes to halve trade surplus this year

    Posted Apr 16th 2010, 12:00am by Denise Tsang

    ... on the renminbi in the next couple of months under mounting pressure from the US, but March's deficit could give it respite,' Bank of America-Merrill Lynch economist Lu Ting said. China's ...

  9. No place for hubris in perilous times

    Posted Nov 25th 2009, 12:00am by Kevin Rafferty

    ... 'Falling export and trade surplus have provided China with a chance to keep renminbi exchange rate stable. However, the US allowed the dollar to depreciate while requiring other countries to let ... in the past decade and especially in the past year.' The person intervening was from the ministry. Commerce Minister Chen Deming said recently: 'The renminbi exchange rate has to remain ...

  10. Work in progress

    Posted Jan 26th 2011, 12:00am by Frank Ching

    ... to accept American demands for a drastic revaluation of the renminbi, the two sides did announce business deals that Obama said would generate US$45 billion in American exports. Moreover, China ...




SCMP.com Account