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.
Qianhai, in Shenzhen, may be the smallest of the dozen experimental zones on the mainland - which include Nansha in Guangzhou and Hengqin in Zhuhai - but its role is arguably the most significant.Tuesday, 29 January, 2013, 4:56am
China's foreign-exchange regulator urged Group of 20 nations to improve collaboration to avoid any so-called currency wars while signalling he is comfortable with the value of the yuan.29 Jan 2013 - 4:56am
China had announced it would let firms in Qianhai, a US$45 billion special economic zone in Shenzhen, take out yuan loans from banks just across the border in Hong Kong, with tenors and interest rates to be set independently, also a major step towards liberalising the country’s interest rate mechanisms.29 Jan 2013 - 3:40am 5 comments
The mainland should be prepared for big swings in speculative capital flows amid global economic uncertainties, the country's foreign exchange regulator said yesterday.26 Jan 2013 - 2:43am
The Hong Kong stock market is poised to receive a windfall from a renewed effort by Beijing to allow more mainland citizens to buy securities listed on overseas exchanges.13 Jan 2013 - 4:34am
Morgan Stanley, the sixth-largest US bank by assets, plans to eliminate about 1,600 jobs from its investment bank and support staff in coming weeks, a person familiar with the matter said. About half the reductions will be in the US and the rest will affect international employees, the person said. All levels of employees will be affected.10 Jan 2013 - 4:21am
Yuan trades between counterparties based outside China rose to 18 per cent of the deals in the currency settled in Hong Kong.14 Dec 2012 - 5:33pm
Despite perceptions that China's new leadership under Xi Jinping will be conservative, some analysts believe Xi's administration-in-waiting seriously intends to undertake economic reforms.
Laura Cha Shih May-leung, a Hong Kong deputy to the National People's Congress, is one of those believers.27 Nov 2012 - 4:08am
ICBC is easily China's most outward-looking bank...15 Nov 2012 - 1:29pm
The exchange rate of the Chinese yuan against the US dollar will be 5.7 in 2017, Caixin reports, citing a private think tank’s prediction.7 Nov 2012 - 3:12pm