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.

Cross-border yuan payment platform next challenge for Beijing

According to Swift, the yuan is the seventh most-used currency for payments.

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.

Monday, 20 October, 2014, 5:05am

Chinese banks boost new loans amid credit easing

Aggregate financing, which includes loans issued through non-banking channels, reached 1.05 trillion yuan last month. Photo: Bloomberg

16 Oct 2014 - 11:40am

Beijing's political ties crucial to liberalising the yuan

The pattern of yuan swap lines between the People's Bank of China and other central banks has borne testimony to the broad appeal of these measures.

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.

13 Oct 2014 - 4:59am

Bailiwick of Jersey keen to be part of global renminbi family

London is becoming the lead centre for yuan in Europe.

Another jurisdiction in Europe is mulling joining the race for a slice of the growing global yuan business pie - the Bailiwick of Jersey, an island sitting between Britain and France.

13 Oct 2014 - 4:13am

Yuan proves to be a bulwark against strong US dollar in Asia

The US dollar is hovering at its strongest level in four years.

A stronger US dollar has historically caused fund managers to flee emerging-market assets but Asia seems to be bucking the trend this time, largely because of the yuan.

9 Oct 2014 - 5:55am

Mainland Chinese banks eye Luxembourg as euro zone hub

Yuan deposits held by banks in Luxembourg are on the rise.

Luxembourg is rapidly growing as a channel for Chinese financing and investments flowing into the European Union.

6 Oct 2014 - 4:10am

City's offshore yuan pool under threat from trade discount

Cheaper offshore yuan means it is more economical for an importer to switch yuan into dollars on mainland than to bring yuan to Hong Kong to settle a trade. Photo: Robert Ng

Hong Kong's offshore yuan pool risks drying up as offshore paper trades at its widest discount in more than two years, prompting mainland importers to avoid coming to Hong Kong to settle their cross-border trades.

6 Oct 2014 - 4:10am

Yuan to start direct trading with euro today

Yuan to start direct trading with euro today

The mainland will start direct trading between the yuan and the euro today as the world's second-largest economy seeks to spur global use of its currency.

30 Sep 2014 - 5:33am

Take a lesson from the West, yuan boost won't spur growth

Who wants to put money into property when you can expect to get less back out than you put in and still have to pay borrowing costs for the privilege?

A 500 billion yuan injection from the People's Bank of China into the country's five biggest banks might not be enough to stave off an economic slowdown in the second half of the year.

28 Sep 2014 - 7:34am 8 comments

Surging yuan trade sees Russia tilt towards China

Despite rising yuan trade, nearly 90 per cent of the US$5.3 trillion a day in 2013 foreign-exchange deals involved US dollars. Photo: Reuters

Vladimir Putin has a secret agent in his campaign to curb the impact of sanctions on Russia's economy: Mr Yuan.

26 Sep 2014 - 5:09am

ADB puts priority on stability in yuan internationalisation

The People's Bank of China's research team had outlined a timeframe to achieve basic convertibility by 2015. Photo: Reuters

The Asian Development Bank said Beijing probably will adopt a new model of currency internationalisation in which capital market development may not be as important as it has been in the past.

24 Sep 2014 - 6:13am

ICBC issues offshore yuan bond in Singapore

ICBC issues offshore yuan bond in Singapore

Industrial and Commercial Bank of China, the mainland's biggest lender, raised four billion yuan (HK$5.04 billion) through its Singapore branch in what would be the Lion City's biggest offshore yuan bond issuance.

17 Sep 2014 - 5:39am

HKMA lobbies Beijing to lift cap on yuan conversion

Norman Chan sees a need for more liquidity facilities in the market to accommodate an expected spike in demand for yuan. Photo: Dickson Lee

The Hong Kong Monetary Authority is lobbying Beijing to lift the cap on the amount of yuan local residents can convert.

16 Sep 2014 - 3:24am

Use of yuan in cross-border mainland China trade hits 3-month low

The yuan has recovered more than half of the losses it suffered in the first half of this year. Photo: Bloomberg

Only 16 per cent of the mainland's cross-border trades were settled in yuan last month, a three-month low, as companies continued to avoid the currency amid its uncertain outlook and rising volatility in the foreign exchange market.

13 Sep 2014 - 4:47am

Russia and China to boost bilateral rouble-yuan trade

Chinese Vice-Premier Zhang Gaoli (right) and Russian First Deputy Prime Minister Igor Shuvalov shake hands at a signing ceremony in Beijing. Photo: Xinhua

Russia and China pledged yesterday to settle more bilateral trade in rouble and yuan and to enhance cooperation between banks, Russia's First Deputy Prime Minister Igor Shuvalov said.

10 Sep 2014 - 4:05am