• Sun
  • Aug 31, 2014
  • Updated: 5:02am

Yuan

The Chinese yuan, also known as the renminbi, is already convertible under the current account - the broadest measure of trade in goods and services. However, the capital account, which covers portfolio investment and borrowing, is still closely managed by Beijing because of worries about abrupt capital flows.

Yuan still rising based on real effective exchange rate, ministry says

Despite the yuan's depreciation against the US dollar in recent weeks, its real effective exchange rate - more closely linked to the trade situation - remained on the rise, Commerce Ministry spokesman Shen Danyang said.

Wednesday, 19 March, 2014, 5:10am 1 comment

Shanghai official's vow on imminent freeing up of yuan a bone of contention

When will China fully liberalise the red-hot yuan? Even the central bank of the world’s second-biggest economy may not really have a clue, with senior officials locked in a debate over when foreign exchange controls should be lifted.

19 Mar 2014 - 5:19pm 9 comments

What exchange rate policy?

Analysts have built entire careers analysing and re-analysing the mainland and its economy. They make predictions, get proven wrong and move on to the next topic.

11 Mar 2014 - 5:09am 5 comments

Investors warned of more fluctuations in yuan

The mainland's foreign exchange chief has warned investors to expect more fluctuations in the value of the yuan as the currency moves towards a more market-based trading system and said current price moves were not large.

4 Mar 2014 - 6:53am

The yuan is falling, but only because Beijing wants it to

It is hard to fathom quite why so many people have been surprised by the recent fall in the value of the yuan. Over the past couple of weeks, the mainland currency has fallen 1.3 per cent against the US dollar.

3 Mar 2014 - 7:15am 1 comment

Fall in yuan can have upside, too as credit risk can be properly priced

Beijing has served notice that speculation in the Chinese currency is no longer a one-way bet. The market is coming to terms with the fact that a sharp depreciation of the yuan in recent days, including the biggest intra-day fall since 2007 yesterday, is policy-driven ahead of an anticipated widening of the unit's daily trading range.

1 Mar 2014 - 5:55am

BOC Hong Kong fends off new competition in yuan trading

Bank of China (Hong Kong), which is 66.06 per cent owned by Bank of China, is considering extending its operating hours to cater to demand from overseas customers, especially from the United States.

17 Feb 2014 - 5:43am

Canada steps up push to create yuan trading hub

Canadian Finance Minister Jim Flaherty received a personal briefing on the matter last year from government officials before a meeting with HSBC executives, documents obtained under Canada's Access to Information Act showed.

8 Feb 2014 - 5:12am

Yuan overtakes euro to become second-most used finance currency

Yuan usage in trade finance grew to 8.66 per cent in October from 1.89 per cent in January last year, according to the Society for Worldwide Interbank Financial Telecommunication (Swift).

4 Dec 2013 - 6:23am

Taiwan favoured centre for yuan bonds

More mainland firms, especially banks, are expected to pick Taiwan as their top destination for issuing offshore yuan bonds, with the island opening the door for the first time to mainland issuers last week.

2 Dec 2013 - 6:08am