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.

Taiwan favoured centre for yuan bonds

Yuan deposits in Taiwan totalled 123.2 billion yuan in October. Photo: Reuters

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.

Monday, 2 December, 2013, 6:08am

Export woes may spur yuan rethink

Research shows mainland exports have been "losing steam, or even losing some ground", in the EU and the US. Photo: Bloomberg

Beijing may be about to begin a rethink of its currency policy in an effort to give the country's struggling exporters the flexibility they need to cope with a raft of painful economic reforms.

4 Nov 2013 - 12:23pm

Bank of China targets yuan markets in West

Au King Lun sees his team as 'quite unique' because they apply hedge fund tactics, unlike many rivals' passive managers. Photo: K. Y. Cheng

Bank of China's Hong Kong-based asset management arm is in talks with several European banks to distribute its yuan products in London and Paris, as it attempts to build an international customer base amid intensifying competition at home.

28 Oct 2013 - 6:17am 1 comment

Yuan slips in ranking as a world currency

The yuan lost ground to the Thai baht to rank as the 12th-biggest world currency in August.

Inbound and outbound yuan payments by entities outside of Hong Kong and the mainland fell to a four-month low in August, as fewer people chose to settle deals using the currency, especially in London and Singapore, according to financial clearing firm SWIFT.

9 Oct 2013 - 5:38am

Traders bullish on yuan prospects

The yuan, which has appreciated 1.8 per cent so far this year, is expected to end the year 0.3 per cent stronger at 6.10 against the US dollar in a survey of analysts. Photo: Reuters

Yuan forwards signal that traders are the most bullish on the currency in a year as the mainland economy shows signs of improvement and a US government shutdown weighs on the greenback.

9 Oct 2013 - 5:38am

Pearl River manufacturers brace for stronger yuan

John Mack, Util's Asia-Pacific chief executive

Italian car parts maker Util has seen the yuan appreciate considerably against the US dollar since it set up a factory in the Pearl River Delta six years ago.

30 Sep 2013 - 4:46pm

Yuan rise puts heat on Hong Kong dollar peg

The Hong Kong dollar has been pegged to the US dollar since October 1983. Photo: Bloomberg

With the rising use of the yuan in trade and investment, debate about the Hong Kong dollar's 30-year-old peg to the US dollar is intensifying.

30 Sep 2013 - 4:00am

Experts wary of roll-out for liberalisation

Illustration: Lau Ka-kuen

Market watchers remain sceptical about whether Beijing's targeted time frame for opening its capital accounts, a key step in the yuan's journey to global acceptance, is too soon.

30 Sep 2013 - 4:00am

Not just about currency appreciation anymore

Hong Kong's market for yuan investments is thriving, despite the fact that yuan currency appreciation has gone off the boil. Photo: Bloomberg

Most Hongkongers have experienced the yuan story in terms of their investments. Initially, this was in the form of stockpiling vast amounts of yuan on deposit at banks at a low interest rate.

23 Sep 2013 - 4:03am

Economists expect 5pc gain against greenback

The yuan is expected to appreciate 5 per cent against the US dollar by 2015. Photo: Reuters

The yuan is expected to appreciate 5 per cent against the US dollar by 2015, a more gradual pace than in recent years, amid a slowdown in mainland economic growth and financial reforms designed to allow more two-way fluctuations in the exchange rate, economists say.

23 Sep 2013 - 4:03am

Pressure on Hong Kong to remain top yuan hub

In November, Hong Kong will mark the 10th anniversary of the State Council's approval of yuan business for local lenders.

After a decade as the only city in the world allowed to conduct offshore yuan business, Hong Kong is now facing fierce competition to its role as the leading offshore yuan centre.

23 Sep 2013 - 4:03am

Beijing's liberalising of yuan courageous, says Xinhua commentary

Xinhua criticised Western politicians who have accused China of keeping its currency artificially low. Photo: Bloomberg

China's moves to liberalise its currency have been courageous given the economic risks, and the next areas for reform include land policy, state-owned industries and taxation, Xinhua said in a commentary yesterday.

22 Jul 2013 - 5:32am

'Liconomics' could mean a weaker yuan

'Liconomics' could mean a weaker yuan

With Premier Li Keqiang just over 100 days in the job, investors have concluded that he is serious about pressing ahead with financial reforms. That means economic pain in the short term, with growth set to slow as Li attempts to curb China's runaway credit creation.

28 Jun 2013 - 5:06am

PBOC approves individual outward investment pilot: report

PBOC approves individual outward investment pilot: report

China’s central bank has approved plans to launch a new pilot program allowing individual households to make financial investments overseas, state media reported on Tuesday, in the latest sign of progress towards capital account liberalisation.

26 Jun 2013 - 2:19am

The yuan hasn't overtaken the HK$ quite yet, Mr Chan

The yuan hasn't overtaken the HK$ quite yet, Mr Chan

Monday's edition of the Post quoted the boss of the HKMA, Norman Chan Tak-lam, proclaiming that in May the value of yuan interbank payments cleared through Hong Kong's real-time gross settlement system, or RTGS, surpassed the value of Hong Kong dollar payments for the first time.

19 Jun 2013 - 4:40am 1 comment