www射-国产免费一级-欧美福利-亚洲成人福利-成人一区在线观看-亚州成人

Top bank in Africa boosting business in yuan

Updated: 2011-09-02 11:34

By Li Xiang (China Daily)

  Comments() Print Mail Large Medium  Small 分享按鈕 0

BEIJING - Standard Bank Group, Africa's largest bank by assets, is boosting its yuan business in a move to capitalize on the growing trade between China and Africa and the rising influence of the Chinese currency on the continent, the bank's senior executive said on Thursday.

Standard Bank has launched services for trade settlement in yuan in 16 African countries, including South Africa, Nigeria, and Angola, and the business turnover reached 500 million yuan ($78 million) over the past six months, according to the bank.

"We are exploring ways to introduce yuan to African companies as a trade settlement currency and how we can persuade African governments to use yuan as a reserve currency," said Craig Bond, chief executive officer of Standard Bank China.

The bank estimated that at least 40 percent, or $100 billion, of China's trade with Africa will be settled in yuan by 2015, which equals the total trade volume between the two in 2010.

In addition, the bank said, at least $10 billion of Chinese investment in Africa will be denominated in yuan over the same period.

Bond said the main benefits of trade settlement in yuan will be the cheaper funding and lower transaction cost for both African and Chinese firms, as the Chinese government continues to ramp up efforts to raise the global profile of the yuan.

The bank is in talks with some African governments that plan to diversify their foreign exchange reserves away from the US dollar.

"We've seen very positive reactions from many African governments toward taking the yuan as a reserve currency," Bond said.

It is likely that rich African governments, such as South Africa and Nigeria, that have large dollar reserves, will hold yuan as part of their foreign exchange reserves by the end of the year, he said.

Although the internationalization of the yuan is a long-term endeavor, the process will be much quicker in Africa because China's commercial leverage there has risen sharply, said Jeremy Stevens, an economist at Standard Bank.

The bank estimated that about 1,500 Chinese firms are operating in the 17 African countries where it has branches. "There are as many as one million Chinese people in Africa. Firms will want to grow their business in Africa, open yuan accounts and use yuan products," Stevens said.

In July, the bank began to provide yuan notes to clients in South Africa, Ghana and Zimbabwe. It also launched yuan-denominated financial products through the offshore yuan market in Hong Kong in August to meet the clients' increasing need for hedging, funding, and wealth management purposes.

The bank said it plans to hire more Chinese employees and will continue to deepen the strategic cooperation with Industrial and Commercial Bank of China, the largest shareholder of the African bank, with a 20.1 percent stake, to gain more clients.

?

主站蜘蛛池模板: 精品香蕉99久久久久网站 | 亚洲精品一区二区手机在线 | 亚洲日本欧美在线 | av人摸人人人澡人人超碰 | 在线观看不卡一区 | 在线精品视频播放 | 亚洲精品国产一区二区在线 | 国产欧美在线不卡 | 免费一级做a爰片性色毛片 免费一极毛片 | 三级做人爱c视频18三级 | 成人小视频在线观看免费 | 日韩精品中文字幕一区三区 | 天海翼精品久久中文字幕 | 日韩在线视频免费 | 99re6热视频精品免费观看 | 日本一线a视频免费观看 | pgone太大了兽王免费视频 | fc2在线播放 | 看中国一级毛片 | 97精品国产福利一区二区三区 | 暖暖在线精品日本中文 | 亚洲欧美成人综合久久久 | 成人永久福利在线观看不卡 | 91精品欧美一区二区综合在线 | 精品在线99| 在线观看视频99 | 天堂资源8中文最新版在线 天堂最新版 | 欧美另类自拍 | 99日韩| 欧美成人精品久久精品 | 久久综合亚洲一区二区三区 | 在线91精品亚洲网站精品成人 | 国产亚洲精品精品国产亚洲综合 | 成人国产午夜在线视频 | 国产精品久久久久国产精品三级 | 国产一级一级一级成人毛片 | 亚洲三级大片 | 97超级碰碰碰免费公开在线观看 | 久久久久亚洲精品影视 | 久草视频免费播放 | 久草资源网站 |