RENMINBI

China Further Optimises Cross-Border Renminbi Policies

13 January 2021

The People’s Bank of China and five other authorities have jointly announced new policies on cross-border renminbi (RMB) business in a bid to optimise and stabilise foreign trade and investment (Yin Fa No. 330 [2020]). More

hktdc research

PBOC Increases Limits for Macao Residents Remitting to Mainland Accounts

20 January 2020

The daily remittance limit for individual Macao residents to same-name accounts in mainland China has been raised from RMB50,000 to RMB80,000, and mainland banks will now process remittance payments in accordance with relevant regulations. More

hktdc research

Financial Services Industry in Hong Kong

19 September 2019

With Hong Kong being an international financial centre, its financial services sector remains one of the most important economic pillars, accounting for 18.9% of the city’s GDP and providing some 258,500 jobs in 2017. Hong Kong was ranked 3rd in the Global Financial Centres Index (GFCI) and hosts the largest pool of RMB liquidity outside Mainland China. More

hktdc research

China Outlines Further FTZ Reforms and Innovations

17 December 2018

The State Council has recently announced 53 new measures designed to support further reform and innovation in the Pilot Free Trade Zones (FTZs). More

hktdc research

Treasury Again Finds Mainland Chinese Currency Is Not Being Manipulated

28 April 2017

According to the Treasury Department’s latest semi-annual report to Congress on international economic and exchange rate policies released on 14 April, neither mainland China nor any other major U.S. trading partner meets the requirements to be designated as a currency manipulator. More

hktdc research

Treasury Maintains Mainland China on Currency Monitoring List

04 November 2016

The U.S. Treasury Department has added Switzerland to a monitoring list that already included mainland China, Japan, South Korea, Germany and Taiwan in its second enhanced report on foreign exchange policies. More

hktdc research

Treasury Finds Mainland Chinese Currency Remains Significantly Undervalued

24 April 2015

According to the Treasury Department's latest semi-annual report to Congress on international economic and exchange rate policies released on 9 April, neither mainland China nor any other major trading partner meets the requirements to be designated as a currency manipulator. More

hktdc research

Currency Manipulation Legislation under Discussion in Washington

06 March 2015

The prospects for congressional approval of currency manipulation legislation have increased somewhat, helped by growing support from the Republican rank-and-file in conjunction with what appears to be a more vocal commitment by a number of Democratic lawmakers. More

hktdc research

Accumulating cross-border RMB business experience via Qianhai

06 March 2014

After the launch of cross-border Rmb loans in Qianhai in early 2013, companies registered in Qianhai are now able to obtain Rmb funds from banks in Hong Kong. In the meantime, Qianhai is actively studying the possibility of allowing mainland funds to invest abroad through Qianhai and hopes to see more two-way Rmb flows. Hong Kong banks are also vying to play a bigger role in cross-border Rmb business and hope to grab a bigger piece of the pie in the process of Rmb internationalisation. More

multimedia

AFF2013 Highlight - Asia: Shaping the Next Global Landscape

11 December 2013