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Currencies

An employee counts yuan notes at a bank in Beijing. Photo: AFP
Yuan

Yuan to catch up to China’s position in world’s economy: ex-official

Outspoken former Chongqing mayor Huang Qifan says Hong Kong can play a key role in the internationalisation of the yuan.

United States

Opinion | With Trump 2.0, it will be every country for itself

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Yuan

China sets yuan fix to 14-month low as Trump win piles on the pressure

Bonds

HSBC’s 4.5 billion yuan panda bond to boost globalisation of Chinese currency

The bond, which pays an annual coupon of 2.15 per cent, also reinforces Hong Kong’s role as the world’s offshore yuan centre, bank says.

Yuan deposits in Hong Kong exceeded 1 trillion yuan for six months in a row up to September, according to HKMA. Photo: EPA-EFE
US presidential election 2024

Mexican leader ‘convinced’ US ties will stay positive after Trump’s election win

But Chinese investments in country such as electric-vehicle factories plus looming changes to a key free-trade deal could complicate matters.

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Yuan

China’s yuan falls sharply as Donald Trump declares US election win

Exchange rate between US dollar and yuan could become a bargaining chip in negotiations between China and the US on tariffs, analyst says.

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US presidential election 2024

Dollar drops as some US polls shift toward Kamala Harris

Investors walk back bets on Donald Trump winning the presidential election after weekend polls indicated Harris gaining ground.

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US Vice President and Democratic Presidential candidate Kamala Harris speaks at a campaign rally in Michigan on Sunday. Photo: via dpa
Japan

Macroscope | Japan’s election results could have global ramifications

Tokyo’s power vacuum, and questions over Japan’s policies and its relationship with the US under Harris or Trump, could have deeper economic impacts.

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China's economic recovery

China’s price-conscious shoppers, hungry for luxury goods, jump on weak yen

Chinese shoppers are opting to make purchases of luxury goods outside China, helped out by sustained depreciation of the Japanese yen.

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US-China relations

US financial-sanction threat should make China rethink forex holdings: economist

‘Possible future sanctions from the US’ under a new US president have set off alarms in Beijing’s policy circles.

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China’s foreign-exchange reserves totalled US$3.316 trillion as of September. Photo: Shutterstock
Diplomacy

Opinion | Brics is not anti-West, it just wants a fairer world order

In championing economic inclusivity and strategic autonomy, pioneering financial innovation and promoting peace, Brics is a force for good.

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Illustration: Craig Stephens
Banking & finance

Opinion | Why digitising financial pipelines is essential for global prosperity

Improving digital payments, especially across borders, will make every aspect of global commerce easier and more accessible.

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Brics

‘The race is on’: Brics ramps up its challenge to the Western-led world order

The growing bloc, which seeks alternatives to Western-led institutions, is being leveraged by Beijing and Moscow to forge a multipolar world.

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Brics

Putin says no Brics plan to create alternative to Swift banking system

Russian leader and bloc’s joint declaration indicate member countries recognise benefits of more transparent cross-border payment scheme.

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Russian President Vladimir Putin enters a meeting on the sidelines of the Brics summit in Kazan, Russia, on Thursday. Photo: AFP
China-EU relations

Defend euro as China, Russia push for alternative currency: Europe’s bank chief

Next US leader also urged to weigh negative impacts of American and EU trade ‘restrictions and barriers’ on economic growth and inflation.

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European Central Bank President Christine Lagarde takes part in an annual meeting of the International Monetary Fund in Washington on Tuesday. Photo: EPA-EFE
China manufacturing

Why ‘significant’ shipping deal bolsters China’s manufacturing, boosts yuan use

Hudong-Zhonghua Shipbuilding is due to deliver six vessels to a Hong Kong containership lessor by 2028.

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US presidential election 2024

Opinion | Could Trump’s economic policies unwittingly undermine the US dollar?

While Democrats and Republicans aim to maintain core US interests, their plans could produce wildly different economic outcomes.

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China economy

Editorial | Time will show worth of strategy laid out by China’s top economic planner

Plan unveiled by the National Development and Reform Commission adds to confidence that China’s 5 per cent growth target can be met.

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Chairperson of China’s National Development and Reform Commission (NDRC), Zheng Shanjie (third from left), attends a press conference in Beijing on Tuesday. Photo: EPA-EFE
Yuan

China’s yuan faces volatility amid US pressure and home-grown stimulus: analysts

A stronger yuan could drag down China’s export growth, and the central bank is expected to guard against excessive appreciation.

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Yuan

Yuan use up 21.1% in cross-border trade as China pushes global role for currency

China’s central bank vows to support Shanghai and Hong Kong as finance centres as it takes ‘next step’ in internationalisation of the yuan.

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Malaysia

Malaysia PM Anwar’s coalition faces internal cracks after big by-election win

While Anwar is riding high on his successful economic recovery and political manoeuvres, old tensions with his rivals-turned-allies remain.

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Malaysian Prime Minister Anwar Ibrahim speaking to supporters during an election campaign in Kuala Lumpur, on November 16, 2022. Photo: AP
Malaysia

Is the strengthening ringgit a blessing or a curse for Malaysians?

While some Malaysians celebrate the strong currency, others are feeling the pinch as their income from foreign sources shrinks.

Malaysia’s ringgit has surged to its highest point in decades, boosting confidence in the economy and attracting foreign investment. Photo: Bloomberg
China's economic recovery

Is China’s new large-scale stimulus an economic saviour or ‘not enough’?

Some analysts see ‘panicking’ among China’s policymakers, others point to a rising sense of urgency in fighting deflation.

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Yuan

China’s yuan gains ground after rate cuts, exporters’ US dollar exodus

Cuts by the Federal Reserve have prompted exporters to convert their US dollar assets into yuan, strengthening China’s currency.

Banking & finance

Dump or buy more? China’s holding of US debt in spotlight after Fed’s rate cut

Continued diversification of reserve portfolio may be in order, but into what, and at what speed, are pressing questions.

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Jerome Powell, chairman of the US Federal Reserve, announced a cut to its benchmark interest rate on Wednesday. Photo: Bloomberg
Banking & finance

Hong Kong banks trim prime rates halfway after Fed’s bold slash

For a typical HK$5 million, 30-year loan priced at prime minus 1.75 per cent, a quarter-point cut in prime rates will save mortgage borrowers HK$720 per month.

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Pedestrians in Hong Kong’s Sham Shui Po neighbourhood on 11 August 2024. Photo: Dickson Lee
Hong Kong economy

Opinion | Why it’s time Hong Kong joined China’s currency zone

Allowing Hong Kong banks to offer Chinese onshore renminbi services would enable the city to leverage its economic freedom on a whole new level.

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Banking & finance

When will China respond to Fed rate cut as economic problems mount?

US Federal Reserve expected to lower its benchmark borrowing rate, which could give China room to ease.

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Currencies
Currency market action focused on developments with the Chinese yuan and the Hong Kong dollar.
last updated:
9 September, 2024
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