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Yuan

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.

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

4 Oct 2024 - 5:22PMvideocam

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

2 Oct 2024 - 9:06AMvideocam

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

HKMA CEO Eddie Yue starts his second five-year term on Tuesday. Photo: Jonathan Wong

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 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

China’s stealthy yuan support ebbs, denting hot hedge fund trade

A lucrative trade that helped hedge funds ratchet up profits on Chinese debt instruments is starting to lose its charm, analysts say.

16 Sep 2024 - 1:21PM

Chinese state banks had been using foreign-exchange obtained in the swaps market to support the yuan in spot trading. Photo: Shutterstock

Chinese Premier vows stronger trade ties with Saudi Arabia

Li Qiang addresses joint committee with Crown Prince Mohammed bin Salman and calls for confidence in China despite headwinds.

12 Sep 2024 - 6:36PMvideocam

Saudi Crown Prince Mohammed bin Salman receives China’s Premier Li Qiang in Riyadh on September 11. Photo: Reuters

Investors eat up dim sum bonds from Guangdong province, Hong Kong’s MTR

Issuance of offshore yuan-denominated bonds has jumped 28 per cent this year, according to the Hong Kong Monetary Authority.

11 Sep 2024 - 6:00PM

Exclusive | Saudi Arabia ‘open’ to petroyuan, closer China ties, minister says

Saudi Arabia’s minister of industry has said his country is willing to ‘try new things’ in its relationship with China, and that Chinese companies are ‘welcome’ to invest.

11 Sep 2024 - 1:54PMvideocam

Yuan still lacks ‘heft’ of China’s economy, trade on global stage: ex-official

Ex-Chongqing mayor Huang Qifan says China has no unrealistic ambitions for the yuan to replace the US dollar.

5 Sep 2024 - 10:42PM

Yuan’s internationalisation index of 3.26 pales in comparison to 57.68 for the US dollar. Photo: Reuters

Financial secretary pledges more financial connections with mainland

Minister hinted at the launches of more links that will better connect Hong Kong markets with those on the mainland.

5 Sep 2024 - 6:30PM

China’s yuan to continue to gain, but outlook hinges on Fed rate cuts: analysts

China’s yuan gained 1.9 per cent against the US dollar in August, which represented the largest monthly change since November.

2 Sep 2024 - 5:42PM

Can the yuan really become a truly international currency that everyone wants?

China’s yuan has become more acceptable to foreign countries, but authorities still maintain tight control of fund flows under its capital account.

1 Sep 2024 - 6:00AMvideocam

China’s central bank enters treasury bond market with 100-billion-yuan net buy

In a highly anticipated move, the People’s Bank of China has conducted its first open-market trade for treasury bonds in nearly two decades.

30 Aug 2024 - 6:13PMvideocam

The People’s Bank of China has made its first trade in the treasury bond market in nearly two decades. Photo: Bloomberg

Interest rates, US election adding to yuan volatility: Goldman

Moves by the US Federal Reserve, as well as November’s US presidential election, would discourage selling the yuan, Goldman Sachs said on Friday.

30 Aug 2024 - 5:30PM

High level of yuan deposits cements Hong Kong’s offshore hub role

Improvement in equity-market sentiment and companies’ increasing need for yuan are driving the surge in deposits, according to analysts.

30 Aug 2024 - 5:30PM

Why China’s 220 million retail investors are shying away from the stock market

Chinese investors shun stocks amid economic uncertainty, preferring bonds, ETFs and luxury homes. Optimism is low despite government efforts to boost market confidence.

24 Aug 2024 - 11:10AM

China’s yuan fitting the bill as currency wins record share of global payments

China’s yuan has won a record share in global settlements, an indication the country’s efforts to internationalise its currency are continuing to bear fruit.

23 Aug 2024 - 7:00PM

China’s yuan has increased its share of global payments, reaching a new record in July. Photo: Reuters

Mainland Chinese buying spree boosts AIA’s first-half profit 53%

Asia’s largest insurer posted its best first-half profit in five years at US$3.31 billion and beat analysts’ estimates of US$3.27 billion.

22 Aug 2024 - 6:34PM

Deeper China-Saudi ties mean more yuan-based transactions, ratings agency says

Yuan internationalisation may get a boost from Saudi Arabia, S&P Global Ratings says, as greater cooperation with China is likely to lead to more frequent use of the renminbi in cross-border transactions.

22 Aug 2024 - 9:17AMvideocam

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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