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Tag Archives: renminbi

Singapore eyes regional hub status for offshore RMB

Singapore renminbi

Addressing ACI Congress delegates, deputy prime minister and chairman of the Monetary Authority of Singapore talks up Singapore’s ability to facilitate the growth of renminbi trading outside China Singapore is aggressively seeking to become a major regional hub for offshore trading of Chinese renminbi as the currency gradually becomes more internationally traded, according to the city-state’s deputy prime minister and ... Read More »

UPS Issues Commercial Paper Denominated in China’s Renminbi

ups-china

First Foreign Non-Financial Company To Issue Commercial Paper in Offshore Renminbi Market HONG KONG–(BUSINESS WIRE)– UPS (UPS) has executed a commercial paper transaction denominated in the offshore Renminbi currency, creating a new financial vehicle to fund growth projects in China. The issuance last Friday, known as a CNH-denominated commercial paper transaction, totaled CNH 630,000,000 and is the first by a ... Read More »

China to offer renminbi loans to BRICs nations

A man walks by  a poster advertising the

(Reuters) - China is planning to extend renminbi loans to other major emerging BRIC countries, in another step toward the expansion of the yuan’s role in foreign exchange, the Financial Times reported on Wednesday. The China Development Bank (CDB) will sign a memorandum of understanding at a meeting with its BRICs counterparts – Russia, South Africa, Brazil and India – in New Delhi on ... Read More »

China: Money Supply in December Exceeds Market Expectation

PBOC

China’s central government wrapped up the National Financial Work Conference which is held every five years. Not surprisingly, no significant reforms were announced as politicians are reluctant to push major reforms in the face of an uncertain global outlook and a domestic leadership change. Though the conference is meant for strategic long-term planning, the conference memo (based on Premier Wen’s ... Read More »

PBoC Rate Hike: RMB Appreciation Will Continue

monetary easing

PBoC announced Tuesday that both base deposit and lending interest rates are raised by 25bps: While interest rates on demand deposits are kept unchanged, those on time deposits of two years or longer maturity are raised by 46-60bps. Our views: 1)This is a surprise to us and the market consensus. 2)This suggests that 3Q GDP growth in 3Q and September ... Read More »

China’s PBOC may cut interest rate before July

china mao yuan

BEIJING, Feb. 26 (Xinhuanet) — China’s central bank may cut the interest rate in the second and third quarters this year, as the economies in the EU and US slow down further while domestic inflation pressure gradually eases, economists said on Saturday. According to research co-sponsored by Xiamen University and the National University of Singapore, China’s monetary policy is very ... Read More »