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

US EUROPE AFRICA ASIA 中文
Business / Markets

Swiss put in bid for yuan clearing

By Gao Changxin in Shanghai (China Daily) Updated: 2014-07-01 07:38

Swiss put in bid for yuan clearing

A yuan exchange site at a cross-border trade area in Dongxing, Guangxi Zhuang autonomous region. Since 2009, the People's Bank of China has established currency swap lines with 23 foreign central banks.[Photo/Xinhua]

Swiss bankers made their strongest pitch yet to their Chinese peers over the weekend for their country to become a hub for offshore yuan trading.

They proposed a currency swap line and a clearing facility, which will help Switzerland compete with London and Frankfurt, Germany, in the race to be Europe's hot spot for yuan-related transactions.

"Swiss banks are greatly in favor of a currency agreement (swap line) between the Swiss National Bank and the People's Bank of China, and thus for clearings through a Chinese bank based in Switzerland," the Swiss Bankers Association said in a statement on Saturday after the first Chinese-Swiss Financial Round Table was held in Switzerland with the visiting China Banking Association. That will "lower transaction costs and highlight Switzerland's position as a European hub for Chinese and renminbi business," it added.

Swiss put in bid for yuan clearing 
Yuan-denominated green bond debuts in London 
Swiss put in bid for yuan clearing
Bank of China gets yuan mandate in Frankfurt 
The statement didn't specify timing for the currency swap line and the clearing facility to be set up. The moves are critical for yuan-related businesses because they enable a supply of yuan liquidity in case of a shortage by allowing access to China's onshore currency market.

Switzerland, home to many of the world's biggest banks, including UBS AG and Credit Suisse Group, is trailing its European peers in the race. The People's Bank of China, the nation's central bank, announced on Sunday that it plans to set up clearing banks for the yuan in Paris and Luxembourg.

On June 18, Europe's first yuan-clearing facility was set up in London as the PBOC-designated China Construction Bank Co, one of China's Big Four State-owned banks to clear yuan-related transactions in the British capital.

Since 2009, the PBOC has established currency swap lines with 23 foreign central banks, totaling 2.5 trillion yuan ($406 billion), as it accelerates the yuan's international push in hopes that the currency will one day stand alongside the dollar and euro as one of the world's reserve currencies.

A report published in March by the International Monetary Institute of Renmin University said that the yuan will overtake the British pound and Japanese yen within three years in terms of application in global trade and investment. Between 2030 and 2040, the yuan is predicted to join the dollar and euro to anchor the international monetary system.

Chen Yuannian, secretary-general of the China Banking Association, said in the statement: "The Swiss Financial Center has expanded renminbi business extensively, serving clients in China, Switzerland and elsewhere in the world. This is favorable for not only the development of Swiss enterprises but also for the internationalization of the renminbi."

The China Banking Association and Swiss Bankers Association also signed a memorandum of understanding as a "sign of their mutual understanding and willingness to proceed on the chosen path", according to the statement.

Hot Topics

Editor's Picks
...
...
主站蜘蛛池模板: 午夜性生活视频 | 欧美大片一级毛片 | 日本在线看小视频网址 | 欧美巨乳在线 | 欧美精品人爱a欧美精品 | 欧美一区二区三区不卡免费观看 | 国产特黄特色的大片观看免费视频 | 91aaa免费免费国产在线观看 | 亚洲an日韩专区在线 | 波多野结衣一区在线 | 国产日韩久久久久69影院 | 国产aⅴ一区二区三区 | 日本特黄特色视频 | 三级成人网 | 日韩精品一区二区三区视频网 | 国产午夜精品久久理论片小说 | 日韩最新中文字幕 | 不卡无毒免费毛片视频观看 | 色偷偷亚洲偷自拍 | 毛片手机在线视频免费观看 | 亚洲精品欧洲久久婷婷99 | 另类视频一区 | 成年人在线观看免费 | 国内精品小视频在线 | 亚洲欧美日韩成人一区在线 | 男女视频免费观看 | 日韩亚洲精品不卡在线 | 欧美一区视频在线 | 精品一区二区三区在线视频观看 | 久久综合狠狠综合久久综合88 | 国产成人精品免费视频网页大全 | 久久亚洲国产的中文 | 亚洲在线国产 | 国产一级做a爰片久久毛片99 | 国产看片视频 | 久草视频福利 | 国产成人最新毛片基地 | 暴操女人 | 最新步兵社区在线观看 | 国产啪在线 | 国产日本精品 |