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

Yuan-denominated trade 'set to double'

By LI XIANG (China Daily) Updated: 2014-11-29 03:58

Yuan-denominated trade 'set to double'

?A currency exchange booth in Hong Kong. The special administrative region is the world's largest offshore yuan market, where deposits of the currency have exceeded 1.1 trillion yuan, about half of the total offshore yuan globally.

China's cross-border trade settled in the yuan will likely double in the next five to seven years, which will generate opportunities for financial institutions in offshore markets for the currency, a senior monetary official from Hong Kong said on Friday.

Chan Tak-lam, chief executive of the Hong Kong Monetary Authority, said that he expected financial institutions in Hong Kong to introduce more yuan-denominated products to meet investors' demand for the yuan.

Sales of products such as exchange-traded funds associated with the Chinese mainland's A-share market are growing rapidly, he said.

Yuan-denominated foreign trade accounts for 15 to 20 percent of the country's total trade and that percentage will likely rise to 40 to 50 percent, indicating more acceptance of the yuan among international traders and investors, Chan told a news conference in Beijing after meeting with mainland regulators.

From January to October, yuan-denominated trade settlement in Hong Kong grew significantly. Offshore yuan trading doubled to the equivalent of $30 billion in the same period, Chan said.

Demand for offshore yuan increased after last Monday's launch of the landmark stock trading program that links Shanghai and Hong Kong. To meet rising demand, the Hong Kong regulator removed the daily conversion limit of 20,000 yuan ($3,262) for its residents.

Chan called for an expansion of quotas for the renminbi qualified institutional investor program, which allows certain overseas institutions to use yuan to invest in the mainland's capital market.

The current quota of 270 billion yuan allocated to Hong Kong can no longer meet demand and the region hoped that mainland regulators would raise the quota as soon as possible, he said.

Chan said the HKMA had received "a positive response" on the issue from the mainland's monetary authorities.

In Hong Kong, the world's largest offshore yuan market, deposits of the currency have exceeded 1.1 trillion yuan, about half of the total offshore yuan globally.

Chan said Hong Kong did not anticipate a direct threat from the rise of other international yuan clearing and settlement centers such as London and Singapore.

"Our relationship with other offshore yuan centers is a mutually beneficial one as we intend to jointly grow the pie of yuan business," he said.

Randall Kroszner, a professor at the University of Chicago's Booth School of Business, said that China needs to continue to liberalize its capital market in the direction of full convertibility of its currency.

The nation also needs to improve the transparency and predictability of its financial institutions to foster long-term investment rather than short-term speculation involving its currency.

lixiang@chinadaily.com.cn

Hot Topics

Editor's Picks
...
主站蜘蛛池模板: 91成人国产网站在线观看 | 美女黄色影院 | 99精品视频在线观看免费 | 一级片aaaa | 亚洲精彩视频在线观看 | a毛片久久免费观看 | 国产91久久久久久久免费 | 国产伦精品一区二区三区无广告 | 欧美美女一区二区三区 | 92午夜国产福利视频1000 | 天天爱天天做天天爽天天躁 | 免费一级a毛片在线 | 国产高清一国产免费软件 | a欧美视频 | 大视频在线爱爱爱爱 | 白嫩美女一级毛片免费看 | 亚洲国产成人久久精品图片 | 日本久久久久一级毛片 | 99视频在线观看视频一区 | 国产91香蕉视频 | 亚洲精品久久久久网站 | 亚洲天堂视频在线免费观看 | 欧美色成人综合 | 欧美日韩一区二区不卡三区 | 那里有黄色网址 | 久久久免费视频观看 | 99免费在线 | 国产高清成人 | 美女黄色在线看 | 草草视频在线播放 | 精品视频一二三区 | 日韩在线播放视频 | 久久精品女人毛片国产 | 亚洲国产成人久久综合区 | 亚洲天堂网站在线 | 午夜性刺激免费视频观看不卡专区 | 国产初高中生粉嫩无套第一次 | 国产欧美日韩精品第一区 | 国产成人一区二区在线不卡 | 成人毛片免费免费 | 一区二区三区在线 |