Offshore Yuan Trading

London challenges Hong Kong with BOC's yuan bond

Hong Kong is the top destination for Western yuan bond issuers.

Bank of China's London branch yesterday made a landmark bond issue, underscoring the city's potential as a hub of yuan fundraising for European debt issuers and posing a threat to Hong Kong.

Friday, 10 January, 2014, 4:58am

Qianhai bypassed as firms head for Shanghai Free-trade Zone

Shanghai's new free-trade zone is seen more attractive than other planned zones as it is expected to get more high-level support and wider policy coverage. Photo: Xinhua

Qianhai first, Hong Kong next? While Hong Kong officials have been concerned about the impact of Shanghai's free-trade zone, it seems it is already stealing business from Qianhai.

1 Oct 2013 - 10:58am

Li warning heats up Hong Kong-Shanghai debate

Li warning heats up Hong Kong-Shanghai debate

Hong Kong dealmaker par excellence Li Ka-shing, fondly known to locals as Superman, says Shanghai's free-trade zone could be Kryptonite to the city in which he built his fortune.

19 Sep 2013 - 8:07am 2 comments

HSBC and Standard Chartered among first Shanghai free-trade zone banks

HSBC has done business in China for more than a century, and is often invited to take part in banking innovations there. Photo: Bloomberg

HSBC and Standard Chartered are expected to be among the first batch of foreign banks to offer a wide range of banking services in the mainland's first free-trade zone, in Shanghai, with Beijing wanting to open its financial sector wider to foreign investment.

10 Sep 2013 - 7:53am

Shanghai free-trade zone may be extended to cover Pudong

The Pudong financial district, as seen from Shanghai Tower, is set to be transformed by plans for the city's free-trade zone. Photo: Reuters

The central government may eventually expand its proposed Hong Kong-like free-trade zone in Shanghai to cover the entire Pudong district, government sources say.

5 Sep 2013 - 11:18am 2 comments

Shanghai vice mayor Ai Baojun to head up free-trade zone later this month

Shanghai vice mayor Ai Baojun to head up free-trade zone later this month

Government sources familiar with the plan told the South China Morning Post that it will launch on September 27, when senior central government officials will fly to the city to attend a ceremony planned to mark the occasion. 

6 Sep 2013 - 7:58am

Hope highlights the divide between Hong Kong and Shanghai

Optimism among locals in Shanghai is palpable. Photo: Bloomberg

People always like to compare Hong Kong and Shanghai, partly due to the interplay between the two cities since the 1940s, when many wealthy Shanghai families relocated to Hong Kong.

2 Sep 2013 - 7:36am 2 comments

Haitong diversifies as fee war rages on

Lin Yong, Haitong International Securities

Hong Kong's highly competitive stockbroking business has forced one of the mainland's largest brokerages to transform itself into a universal bank in an effort to rely less on fee-based income and to add new and stable profit streams.

26 Aug 2013 - 6:51am

Legal loopholes prompt China to delay Shanghai free-trade zone rules

Chinese Premier Li Keqiang. Photo: Xinhua

The central government had planned to unveil the rules late last month, but policymakers put the lawyers back to work out of concern the legal framework needed tightening, to reduce the risk of legal disputes involving foreign investors, government sources familiar with the matter said.

5 Sep 2013 - 7:25am

Exclusive: Li Keqiang fought strong opposition for Shanghai free-trade zone plan

Illustration: Lau Ka-kuen

Premier Li Keqiang fought open opposition from financial regulators in his bid to push through a landmark plan for a free-trade zone in Shanghai. It is the clearest sign yet that the nation's new leadership is determined to deliver long-delayed economic reforms.

6 Sep 2013 - 8:01am 7 comments

Shanghai plan to lure foreign investors to free-trade zone

Shanghai plans to lure foreign investors to its new free-trade zone

The central government will unveil as early as this week a major package of new policies, covering industries from financial services to shipping and transport, as part of its plan to create a Hong Kong-like free-trade zone in Shanghai.

6 Sep 2013 - 8:04am 3 comments

New Shanghai free-trade zone to lead push in futures

Commodities warehouses may soon be set up in Pudong.

Beijing will soon announce a plan to allow foreign commodities exchanges to set up their own futures delivery warehouses in the mainland's first free-trade zone in Shanghai, directly challenging Singapore and South Korea's regional dominance in this business and helping Hong Kong Exchanges and Clearing to expand into commodities trading.

6 Sep 2013 - 8:04am

Shanghai's free-trade zone puts Hong Kong's future in the spotlight

Shanghai's free-trade zone puts Hong Kong's future in the spotlight

Will the new Shanghai free-trade zone be a game changer? This question popped up in my mind when I read the breaking news on Wednesday evening about Beijing’s landmark approval to set up a free-trade zone in Shanghai.

6 Sep 2013 - 8:06am 24 comments

Qianhai and Hong Kong: like Canary Wharf and the City of London?

Zhang Bei. Photo: Edward Wong

First, Shanghai. And now, Qianhai! Which other cities are waiting to join the competition with Hong Kong? Last week, I went to Qianhai, the small but important development zone in Shenzhen, for an interview with Zhang Bei, Qianhai's top boss.

6 Sep 2013 - 10:37am 1 comment

Qianhai economic zone chief says it won't compete with Hong Kong

Dozens of offices and support facilities will be built on this Qianhai site over the next few years.

The 15-square-kilometre site of the Qianhai special economic zone looks more like a construction site than a booming financial centre. But the top official in charge of the development says it will not only play a key role in liberalising the yuan but also help Hong Kong keep its status as a world-leading financial centre - a status many fear is threatened by Shanghai's ambitious rise.

6 Sep 2013 - 8:07am