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

Sydney to be latest hub in internationalization of Chinese currency

By Reuters (China Daily) Updated: 2014-11-04 08:16

Sydney, Australia's financial center, is set to become the latest hub for trading in the Chinese yuan with the authorities from both countries expected to ink the agreement this month.

The deal would see it join Seoul, Paris, Luxembourg, London, Frankfurt, Singapore and Hong Kong as one of the global centers for trading the renminbi, helping further boost China's efforts to promote the use of its currency in international trade.

Sydney to be latest hub in internationalization of Chinese currency
 Casinos chart plans to woo high rollers from China
Sydney to be latest hub in internationalization of Chinese currency
Sydney set to be offshore RMB center

China is Australia's single biggest export market with two-way trade flows of around A$150 billion ($131 billion) in 2013.

However, only about?one percent is conducted in renminbi.

"It will take time to change that but maybe within five years, we could see the ratio double," said Anthony Issa, deputy treasurer at Industrial and Commercial Bank of China Ltd in Sydney.?

The People's Bank of China is highly likely to appoint a clearing bank later in November, said Issa, the next formal step in the process.

Sources familiar with the situation said five Chinese banks, namely ICBC, Bank of China Ltd, China Construction Bank Corp Ltd and Bank of Communications Co Ltd and Agricultural Bank of China Ltd were vying for the role.

The appointment would make it easier for investors to complete financial transactions, while lowering the cost of doing business for importers and exporters.

Instead of paying foreign exchange fees on Australian dollar-US dollar-renminbi transfers, the agreement would reduce the costs to Australian dollar-renminbi.

Issa said the agreement would also help expand the range of financial products including bonds, foreign exchange and equities.

Australia still lags its global competitors in adopting the "redback", as the yuan is now being dubbed, despite an early start in 2013 when a private sector-led initiative kicked off with the aim of expanding yuan business in the country.

Australian borrowers have recently started to issue yuan-denominated bonds with securities listed on the Australian Stock Exchange but still cleared in Europe or Asia.

Earlier this year, a portion of the massive $7.8 billion loan for Australia's Roy Hill iron ore project was funded in the yuan.

China's thirst for minerals has fuelled more than 20 years of unbroken economic growth in Australia. The two countries are aiming to sign a bilateral free trade agreement by the end of the year.

Hot Topics

Editor's Picks
...
...
主站蜘蛛池模板: 国产欧美日韩综合精品无毒 | 免费精品国产日韩热久久 | 欧美成人精品三级网站 | 日本又黄又爽又免费 | 日本精品三级 | 欧美午夜a级精美理论片 | 欧美一级视频免费 | 99免费精品 | 黄色亚洲网站 | 久久爱com| 131的美女午夜爱爱爽爽视频 | 国产区精品在线 | 黄色a站| 在线播放波多野结衣 | 欧美成人3d动漫专区 | 日韩在线视频一区二区三区 | 国产视频日韩 | 欧美男人天堂 | 男女福利 | 久久久久久久久免费影院 | 久久99国产精品久久99果冻传媒 | 一级欧美一级日韩片 | 亚洲精品高清国产一久久 | 一区二区影视 | 成人中文字幕在线 | 丰满老熟女毛片 | 日本一级特黄a大片 | 亚洲综合免费视频 | 亚洲日韩精品欧美一区二区一 | 日韩一级片播放 | 一级中国乱子伦视频 | caoporen个人免费公开视频 | 亚洲美女自拍视频 | 黄色美女一级片 | 亚洲福利精品一区二区三区 | 91精品国产91久久久久久 | 成人三级视频 | 一级特级欧美a毛片免费 | 久久骚| 在线观看日韩www视频免费 | 成人精品一区二区不卡视频 |