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Yuan

Investors watch stock market trends at a securities firm in Nanjing, in east China’s Jiangsu province. A cross-border stock scheme, which is marking its 10th anniversary, provides mainland investors with new avenues to channel their money. Photo: Xinhua

Editorial | More growth ahead as cross-border Connect turns 10

Status of Hong Kong as offshore financial hub for mainland China has been greatly enhanced by ever-widening investment scheme.

21 Nov 2024 - 6:30AM

Alibaba pulls in US$5 billion from dual-currency bond offering

20 Nov 2024 - 10:38PM

Alibaba to sell bonds to repay debt, fund buy-back amid low rates

18 Nov 2024 - 4:00PM

Letters | China should use US treasury holdings as leverage to lower US tariffs

Readers discuss how Beijing might work with the incoming Trump administration, shoebox housing and the retirement age in Hong Kong and the treatment of an Iranian protester.

14 Nov 2024 - 11:30AM

China has stepped up its efforts to promote the use of the renminbi in international transactions, which is part of the larger push aimed at eroding the dollar’s strength in global finance. Photo: NurPhoto via Getty Images

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

Yuan’s midpoint rate falls to 14-month low as Trump’s election throws most currencies other than the US dollar into uncharted waters.

13 Nov 2024 - 4:56PM

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.

13 Nov 2024 - 10:07AM

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.

7 Nov 2024 - 8:49AMvideocam

Mexican President Claudia Sheinbaum took office as the country’s president in October after winning election in June. Photo: Eyepix via Zuma Press Wire/dpa

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.

8 Nov 2024 - 3:50PM

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.

1 Nov 2024 - 8:30PM

Beijing urged to offer more yuan loans overseas to help dethrone US dollar

National Academy of Development and Strategy says China should be main source of liquidity for developing countries.

1 Nov 2024 - 4:30PM

Chinese yuan and US dollar banknotes. Photo: Shutterstock

China, Brics bloc not ready to reject US dollar despite Russian entreaties

Though Vladimir Putin has called for the group of emerging economies to develop an alternative payment system, enthusiasm appears limited.

25 Oct 2024 - 6:00PMvideocam

Following a summit among the Brics bloc of emerging economies, no progress was evident in the development of an alternative payment system championed by Russia. Photo: Reuters

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.

22 Oct 2024 - 10:20AMvideocam

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.

14 Oct 2024 - 1:56PMvideocam

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.

7 Oct 2024 - 7:00PM

Strong US jobs data released last week could affect the exchange rate between the US dollar and Chinese yuan, according to some analysts. Photo: Shutterstock

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.

6 Oct 2024 - 5:00PMvideocam

China’s yuan ranks fourth among top global payment currencies. Photo: Reuters

Explainer | How China’s 2024 stimulus compares with past packages, and what’s next?

In nominal terms, the massive package has the potential to be China’s biggest ever.

3 Oct 2024 - 5:00PMvideocam

Boom or bust: economist urges China to sober up after stock rally

Lu Ting, chief China economist at Japanese investment bank Nomura, says the risk of repeating the boom and bust in 2015 could rise rapidly in the coming weeks.

4 Oct 2024 - 5:22PMvideocam

China’s premier urges swift action as stimulus package sets markets ablaze

After last week’s stimulus policies – and subsequent market frenzy – China’s premier has reiterated time is of the essence for fast recovery.

2 Oct 2024 - 9:06AMvideocam

Chinese Premier Li Qiang has said speed is essential for the implementation of policies to spur economic growth. Photo: AP

HKMA wants to continue developing Greater Bay Area, expand connect schemes

The de facto central bank will work with mainland authorities to develop the Greater Bay Area and expand cross-border trading, CEO Eddie Yue says.

30 Sep 2024 - 8:33AM

China’s yuan continues upward climb after Beijing’s stimulus roll-out

The yuan reached its highest level in over a year on Wednesday following interest rate cuts and new measures from China’s central bank.

25 Sep 2024 - 2:32PM

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.

25 Sep 2024 - 4:29PMvideocam

China’s central bank governor, Pan Gongsheng, speaks at a press conference in Beijing on Tuesday. Photo: Reuters

China’s long-term focus still the same despite stimulus measures

Easing by China’s central bank will stabilise the economy for now, but the country is looking for a paradigm shift in its overall strategy.

25 Sep 2024 - 1:28AM

The People’s Bank of China (PBOC) headquarters are seen in Beijing. The bank has announced a stimulus package to jump-start the economy. Photo: Shutterstock

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.

24 Sep 2024 - 8:45AM

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.

19 Sep 2024 - 8:30PM

Will start of US rate cuts bring tailwinds to lift China’s economic sails?

US Federal Reserve officially kicked off a rate-cutting cycle by announcing a half a percentage point rate cut on Wednesday.

19 Sep 2024 - 6:09PM

US Federal Reserve chairman Jerome Powell speaks during a news conference following the September meeting of the Federal Open Market Committee. Photo: Getty Images via AFP

China-Russia trade inches up as US sanctions and payment issues strain growth

After a historic rise in trade between China and Russia last year, their energy exchanges keep slowing, and analysts point to settlement challenges.

19 Sep 2024 - 9:40AMvideocam

A man walks past traditional Russian Matryoshka dolls at a store where Russian products are sold in Beijing earlier this year. Trade with China has become crucial for Russia’s economy. Photo: AFP

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.

17 Sep 2024 - 5:35PMvideocam

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.

16 Sep 2024 - 11:10PM

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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.

last updated:

9 September, 2024