Bank of China, one of China's biggest commercial banks, decided to raise renminbi capital of its Frankfurt branch, in a move to strengthen its competitiveness in offshore business of Chinese currency renminbi (RMB), said the bank on Wednesday.
China's announcement on Thursday that it will allow cross-market trading by mainland and Hong Kong investors on the Hong Kong and Shanghai stock exchanges has again highlighted the role of the two cities as test beds for China's financial reform.
February saw the Renminbi(RMB), or China's yuan, enjoy a record-high activity share on the global foreign exchange markets with 1.42 percent of business, data revealed Wednesday by SWIFT RMB tracker revealed.
Tencent Holdings Limited announced Wednesday the company has proposed a 1 into 5 share split, which will be effective on May 15.
As China's total exports and imports surpassed 4 trillion U.S. dollars for the first time in 2013, recent rates of the Chinese currency against the dollar have hit a new record high, infiltrating six is possible in the very near future.
While the Chinese currency Renminbi continues its upward trend against the U.S. dollar, economic pundits have warned that to expect and demand more RMB appreciation in 2014 invites trouble.
Hong Kong Chief Executive CY Leung said on Monday that Jan. 2014 marks the commencement of the 10th year of Renminbi offshore trading business of the city. It is of utmost importance for the city to maintain its leadership in trading the popularizing currency.
In 2013, China continued to promote the internationalization of the yuan, or Renminbi, with media and analysts buzzing about the effect of recent reforms on the increasingly global currency.
IFC, a World Bank member, and banking multinational Standard Chartered have signed a risk sharing facility, which will increase the amount of Renminbi-denominated trade finance in emerging markets, an IFC statement said Tuesday.
Delegates from leading commercial banks in Malaysia and Hong Kong met here on Thursday for the first Private Sector Dialogue on Offshore Renminbi (RMB) Business, in a bid to promote cooperation on the Chinese currency market between financial institutions in Malaysia and Hong Kong.
Agricultural Bank of China (ABC) and Standard Chartered Bank will offer renminbi clearing services in the United Kingdom (UK), the first banks to do so.
Southwest China's Yunnan Province on Tuesday launched a financial reform initiative in its regions bordering South Asian neighbors.
Hong Kong Monetary Authority (HKMA) announced Thursday two upgrades in the provision of Renminbi (RMB) liquidity to authorized institutions participating in RMB business in Hong Kong to make short-term RMB funds easier to access.
Hong Kong stands ready to become the pricing center for commodities markets in the Asia region, the city's Secretary for Financial Services and the Treasury Bureau K C Chan said Tuesday.
iShares RMB Bond Index ETF (Exchange Traded Fund), Asia’s first offshore RMB denominated bond ETF, was listed on the Stock Exchange of Hong Kong on Tuesday.
Deutsche Bank has completed its first Renminbi (RMB) bond issuance in Taiwan in a deal worth 1.1 billion yuan (178.28 million U.S. dollars), the bank announced Wednesday.
China's currency RMB is not expected to lead to the substitution or marginalization of the Hong Kong dollar, according to a new survey.
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