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Yuan

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

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.

Banking & finance

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

Alibaba

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

Alibaba

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

The Chinese e-commerce leader is issuing bonds denominated in US-dollar and yuan to help repay debt and fund stock repurchases.

Alibaba plans to issue new bonds to fund its share repurchases and repay debt. Photo: Shutterstock
US-China relations

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.

China economy

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.

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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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Banking & finance

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-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
China economy

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.

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Chinese yuan and US dollar banknotes. Photo: Shutterstock
Banking & finance

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.

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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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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
Foreign exchange market

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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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
China economy

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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China's economic recovery

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.

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China's economic recovery

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.

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Hong Kong stocks retreated after six consecutive trading days, the Hang Seng Index closed at 21,743 at noon, down 700 points. Photo: Jelly Tse
China's economic recovery

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.

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Banking & finance

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.

China economy

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.

After the US Federal Reserve’s interest rate cuts and a set of monetary policy measures China announced to stimulate its economy, the value of the yuan has rapidly increased. Photo: Reuters
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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China’s central bank governor, Pan Gongsheng, speaks at a press conference in Beijing on Tuesday. Photo: Reuters
China economy

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.

China economy

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

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.

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 relations

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.

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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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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
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