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

USEUROPEAFRICAASIA 中文雙語Fran?ais
Business
Home / Business / Finance

UAE-China trade soars amid growing RMB share

Xinhua | Updated: 2013-04-09 14:36

DUBAI - The trade between the United Arab Emirates and China soared in 2012, but the Chinese currency did not reach the Gulf state's hearts and minds, analysts of the Hong Kong and Shanghai Banking Corporation Limited said Monday.

The development of the renminbi into the top group of global currencies is well under way, Simon Cooper, deputy chairman and chief executive of HSBC Middle East and North Africa, said at a client conference on the growing importance of the RMB in the global and Middle Eastern trade with China in Dubai.

He added that despite the fact that China replaced India as the UAE's biggest trade partner, the RMB has still a long way to go to become an accepted currency of choice for exporting and importing firms with business interests in China.

Although banks, including HSBC, Standard Chartered and local bank Emirates NBD, offered RMB accounts in the UAE and many Chinese banks' established branches in the Gulf state, many consumers do not usually trade in RMB.

"Traders still hesitate to go for RMB-trade, as lots of customers' education has to be done about the RMB. They are used to mostly trade with the greenback, Gulf currency or Euro," said Praveen Gutpa, managing director of HSBC Group.

He said that bank clients often ask questions, such as "How can I manage currency risk with an RMB account?" or "Where to invest with an RMB account if I have excess liquidity?"

Gutpa said HSBC has already convinced major oil and construction companies in the UAE to open RMB accounts. "This helped them to reduce currency risk to import machinery from China in RMB and increase sales opportunities when they export through labeling goods in RMB, rather than in US dollars," he added.

Nevertheless, the main message from the HSBC conference was that no trading company can ignore the rise of the "redback".

The RMB has globally become an accepted trade currency, Stephen King, the group chief economist at HSBC, said, adding that its way to internationalization was irreversible.

"We expect that China's currency will become a fully convertible currency in five years," said King.

Meanwhile, Gutpa said as bilateral Sino-Arab trade will surge further, "no one can ignore bank products based on the RMB."

Greater yuan use urged in China-Mideast transactions

Harder push likely on yuan, says HSBC

More policies to support cross-border use of renminbi

SWIFT: Yuan rises to 13th as world payment currency

Currency's global role takes huge step closer

Most Viewed in 24 Hours
Copyright 1995 - . All rights reserved. The content (including but not limited to text, photo, multimedia information, etc) published in this site belongs to China Daily Information Co (CDIC). Without written authorization from CDIC, such content shall not be republished or used in any form. Note: Browsers with 1024*768 or higher resolution are suggested for this site.
License for publishing multimedia online 0108263

Registration Number: 130349
FOLLOW US
主站蜘蛛池模板: 性午夜| 毛片免费在线观看网址 | 一级特黄国产高清毛片97看片 | 日本在线视频免费看 | 色播基地| 欧美激情精品久久久久久久久久 | 国内精品小视频在线 | 国产女主播在线 | 国产精品成人亚洲 | 一区二区三区免费视频观看 | 久久99国产亚洲精品 | 国产亚洲一区二区三区不卡 | 日本在线观看不卡免费视频 | 爽爽窝窝午夜精品一区二区 | 国内精品一区二区 | 国产午夜三级 | 欧美高清在线视频在线99精品 | 免费一级肉体全黄毛片 | 美女午夜色视频在线观看 | 午夜宅男在线永远免费观看网 | 国产一区在线播放 | 国产精品99久久99久久久看片 | 国产成人在线视频免费观看 | 看国产一级毛片 | 欧美在线做爰高清视频 | 免费在线观看的毛片 | 精品成人网| 久草网在线| 国产欧美久久久精品影院 | 欧美日韩在线观看视频 | 欧美另类69xxxxx 视频 | a毛片免费播放全部完整 | 中国三级毛片 | 韩国午夜三级理论 | 亚洲另类在线视频 | 中文字幕1区 | 亚洲精品午夜 | 国产看片一区二区三区 | 国产在线爱做人成小视频 | 自拍三级视频 | 精品久久久久久国产 |