BEIJING: China's plan to test yuan convertibility in a new services hub being built near Hong Kong fanned excitement Beijing may be dismantling its rigid capital controls sooner than expected.
Showing posts with label China's yuan. Show all posts
Showing posts with label China's yuan. Show all posts
Sunday, July 8, 2012
Saturday, September 10, 2011
London to 'develop as Chinese yuan trading hub'
China and the UK are to develop an offshore trading hub for the yuan based in London.
UK Chancellor George Osborne confirmed the agreement after meeting with Chinese vice-premier Wang Qishan in the UK.
"We agreed to collaborate on the development of renminbi-denominated financial products and services in London," he said.
UK Chancellor George Osborne confirmed the agreement after meeting with Chinese vice-premier Wang Qishan in the UK.
"We agreed to collaborate on the development of renminbi-denominated financial products and services in London," he said.
Monday, May 30, 2011
Yuan at record high versus dollar after Treasury report
China's yuan has hit a record high against the US dollar after the US Treasury department said the Chinese currency was undervalued but not manipulated.
The People's Bank of China (PBOC) fixed the yuan's mid-point at 6.4856 against the US dollar on Monday.
China has been accused by the US and other developed economies of keeping the value of its currency artificially low to boost its exports.
The People's Bank of China (PBOC) fixed the yuan's mid-point at 6.4856 against the US dollar on Monday.
China has been accused by the US and other developed economies of keeping the value of its currency artificially low to boost its exports.
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