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  • November 1, 2014
  • Last updated: 7:40pm
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  1. Business - Banking & Finance

    Review urged on future role of Hong Kong dollar

    Posted Nov 01st 2014, 05:21am by Enoch Yiu

    ... Enoch Yiu enoch.yiu@scmp.com Options include linking to the yuan or making the yuan the legal tender in the city Review urged on future role of HK dollar HSBC Holdings is calling for a review of the future role of the local currency, including possibly severing its link to the US dollar and switching it to the yuan instead, or even making the yuan the legal tender in the city. ...

  2. Business - Money - CURRENCIES

    Yuan hits its stride as offshore hubs catch up

    Posted Oct 31st 2014, 06:04am by Jeanny Yu

    ... Jeanny Yu jeanny.yu@scmp.com September payments, excluding Hong Kong, surged 837pc year on year Yuan hits its stride as offshore hubs catch up Yuan payments worldwide soared to a record high last month, in the latest sign that the currency is fast spreading out of China as other global financial hubs catch up with Hong Kong in yuan trade. Payments between offshore yuan hubs, ...

  3. Business - Economy - CURRENCIES

    Yuan milestone as onshore direct trade with Singapore dollar starts

    Posted Oct 28th 2014, 05:42am by Jeanny Yu

    ... Jeanny Yu jeanny.yu@scmp.com Yuan starts direct trade with Singapore dollar The yuan will start onshore direct trading with the Singapore dollar today, a milestone in Beijing's ambition to globalise its currency and offering cost savings that should make the yuan more popular in Southeast Asia. The mainland's interbank foreign exchange market will start trading ...

  4. Business - Banking & Finance - CURRENCIES

    China’s overseas investment schemes set to boost yuan

    Posted Oct 27th 2014, 02:59pm by Reuters

    ... Reuters Expanding the offshore pool is likely to help balance the mainland's international payments China's overseas investment schemes set to boost yuan The mainland is studying pilot schemes that will allow domestic investors to make overseas investments using the yuan, a move that could pump fresh oxygen into the stagnant offshore yuan pool. "The central bank ...

  5. Business - Banking & Finance - CURRENCIES

    Sydney expected to get yuan clearing bank soon

    Posted Oct 25th 2014, 03:41am by Jeanny Yu

    ... Jeanny Yu jeanny.yu@scmp.com Sydney expected to get yuan clearer soon Beijing is set to accelerate plans to boost the international use of yuan by concluding pacts with key regional trading partners Australia and Singapore. Sydney was on track to become the next offshore city to obtain a yuan clearing bank- as early as December- Elmer Funke Kupper, the chief executive ...

  6. Business - Banking & Finance - THE VIEW

    China speeds up transformation of yuan into global currency after crisis

    Posted Oct 20th 2014, 09:26am by Cathy Holcombe

    ... Cathy Holcombe Yuan's transformation into a global currency has been speedy, but major reforms are needed if China is to seriously challenge the US dollar's status Dollar domination vs yuan As US long bond yields dip below 2 per cent, we are reminded once again that when the world gets nervous, the United States government's funding costs get cheaper. ...

  7. Business - Banking & Finance

    Cross-border yuan payment platform next challenge for Beijing

    Posted Oct 20th 2014, 05:05am by Jeanny Yu

    ... Jeanny Yu jeanny.yu@scmp.com Payment platform next task for Beijing Launching a long-awaited cross-border yuan payment platform is one of the next challenges Beijing needs to tackle given the complexity in settling yuan trades and as offshore dealing in the currency swells, said Evan Goldstein, the global head of yuan solutions at Deutsche Bank. "In terms of major milestones that lie ...

  8. Business - Banking & Finance

    Chinese banks boost new loans amid credit easing

    Posted Oct 16th 2014, 11:40am by Victoria Ruan

    ... Victoria Ruan in Beijing victoria.ruan@scmp.com Banks issued 857.2 billion yuan worth of new yuan loans in September, higher than predicted Chinese banks extended more new yuan loans last month, a sign that monetary conditions are being loosened to ease bottlenecks in corporate funding that have risked slowing economic growth further. In September, banks issued 857.2 billion yuan ...

  9. Business - Economy - CURRENCIES

    Beijing's political ties crucial to liberalising the yuan

    Posted Oct 13th 2014, 04:13am by Jeanny Yu

    ... ties key to liberalising yuan When Xi Jinping touches down in a foreign capital, the odds are that he will pull out of his suitcase a currency deal that host countries will eagerly sign on to as the president furthers Beijing's goals for the internationalisation of the yuan. Xi's overseas trips, events that have long been choreographed around business and trade initiatives, have been ...

  10. Business - Banking & Finance

    Bailiwick of Jersey keen to be part of global renminbi family

    Posted Oct 13th 2014, 04:13am by Jeanny Yu

    ... Jeanny Yu jeanny.yu@scmp.com Jersey keen to be part of the renminbi family Another jurisdiction in Europe is mulling joining the race for a slice of the growing global yuan business pie- ... a top global offshore yuan hub. Geoff Cook, the chief executive of Jersey Finance, said the island was in talks with Chinese and British officials to allow smaller issuers of yuan ...




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