• <abbr id="ck0wi"><source id="ck0wi"></source></abbr>
    <li id="ck0wi"></li>
  • <li id="ck0wi"><dl id="ck0wi"></dl></li><button id="ck0wi"><input id="ck0wi"></input></button>
  • <abbr id="ck0wi"></abbr>
  • <li id="ck0wi"><dl id="ck0wi"></dl></li>
  • Home >

    Rising Competition In Offshore RMB Market

    2011/5/18 15:20:00 35

    RMB Market Competition For RMB Exchange Rate

    According to the data released by the Hongkong Monetary Authority yesterday, the RMB trade settlement through the Hongkong bank has reached 310 billion 800 million yuan in the first quarter of this year, accounting for 84% of the 369 billion 200 million yuan RMB trade settlement last year.

    In addition, Hongkong has RMB deposits of 451 billion 400 million yuan, and the issuance of RMB bonds has reached RMB 18 billion 500 million yuan in the first 4 months of this year, more than half of last year's total issuance of RMB bonds 35 billion 800 million yuan.


    Singapore aims to catch up with offshore RMB business


    Hongkong's offshore renminbi business is developing rapidly, and Singapore is also actively preparing for it.

    Singapore Exchange yesterday confirmed to the first Financial Daily reporters that the new exchange is planning to launch the RMB exchange rate futures settlement service, but there is no timetable for the launch of the service.


    People in the banking sector in Hongkong believe that in order to develop renminbi business, Singapore should first lay a solid foundation, including renminbi deposits, trade settlement and

    RMB bonds

    And then to the sale and settlement of long-term products.


    A war on the offshore RMB market without smoke has seemed to have been quietly opened up.

    Singapore's recent efforts to promote renminbi business, Wu Zuodong, Singapore's state councilor, said in Beijing in April that a Chinese bank in Singapore would become the RMB clearing bank.

    According to Xinhua News Agency earlier reported, ICBC and Bank of China and other banks are developing RMB business in Singapore.


    In response to the "challenge", Hongkong, which has seven years' experience with the renminbi and is recognized by the offshore RMB center of the state, is also making an active effort to build a higher level.

    Yesterday, a spokesman for the Hongkong Financial Market Association told our correspondent that it plans to establish offshore Hongkong this year.

    RMB rate

    Price.


    On the other hand, confirmed by the above spokesman, the Hongkong Financial Market Association, after consulting with members of its banking institutions, hopes to select 10 to 20 banks to participate in the daily offshore renminbi reference rate pricing as an offshore market.

    RMB option

    And other benchmarks for derivatives, and to promote openness, pparency and further development of the RMB offshore market.


    Hongkong is dominant.


    Most market participants believe that at least at this stage, it is difficult for Singapore to compete with Hongkong for the role of RMB offshore market center.

    At present, Hongkong's RMB products include deposits, bonds, funds, insurance, real estate trust funds and other linked notes products. The next step will be a larger and more attractive RMB investment market, including the introduction of RMB IPO and "small QFII".


    But some market participants say that Singapore's strength can not be underestimated.

    Liao Qun, chief economist and strategist at CITIC Bank (601998, stock bar) International China business, told the newspaper yesterday that Singapore has certain conditions in the development of infrastructure and financial products in the role of actively seeking offshore RMB market, and at the same time, it has the advantage of geography, because Singapore is the hub of ASEAN.


    Ma Jun, chief economist of Greater China in Deutsche Bank, also said recently that RMB trade settlement and FDI (foreign direct investment) should be carried out in Hongkong.

    Because trade relations between Hongkong and the mainland are more closely related, the new China trade is only 15% of the total volume of trade between Hongkong and the mainland, while Singapore's FDI to China is less than 10% of Hongkong's FDI to the mainland.


    Ma Jun predicted that the offshore offshore market in the future will form a central and marginal offshore market structure, with a ratio of 70%~80% in Hongkong and the remaining 20%~30% in Singapore, London and New York.

    "It can be said that Hongkong will be the wholesale market for offshore renminbi. Singapore, London and New York will be" retail markets ".

    • Related reading

    Shanghai'S Health Care Reform Plan Has Formally Promulgated &Nbsp, Which Will Narrow The Gap Of Medical Insurance Benefits.

    financial news
    |
    2011/5/18 15:17:00
    24

    More Than 70% Of Wenzhou Fried Consortium Lost &Nbsp, And Speculators Lost Tens Of Millions Of Dollars.

    financial news
    |
    2011/5/17 14:48:00
    43

    Total Tax: A Large Number Of False Invoices Flow Into Administrative Institutions

    financial news
    |
    2011/5/17 14:46:00
    56

    The Ministry Of Commerce Adjusts The Quota Of Imported Oil Products From Private Enterprises &Nbsp, And Fails To Apply For Quotas.

    financial news
    |
    2011/5/17 14:43:00
    43

    中國連續(xù)5個(gè)月減持美國國債 3月份減持92億美元

    financial news
    |
    2011/5/17 11:19:00
    26
    Read the next article

    EU'S Trade Policy Is Turning Strong &Nbsp; China Or Hopeless "GSP"

    Although the EU claims to cancel trade preferences for emerging economies in order to make the least developed countries truly enjoy trade preferences, it is still understood as a clear signal for European countries to compete with emerging economies after the financial crisis.

    主站蜘蛛池模板: 久久高清内射无套| 日韩三级电影院| 成年女人a毛片免费视频| 国产精品情侣自拍| 亚洲综合在线另类色区奇米| 久久久久亚洲AV片无码| 揄拍自拍日韩精品| 狠狠入ady亚洲精品| 天天影视综合色| 亚洲综合色7777情网站777| 99久久人妻精品免费一区| 精品人妻系列无码一区二区三区 | 97天天摸天天碰天天爽| 精品无码一区在线观看| 日本一区二区免费看| 国产中文在线观看| 久久国产乱子伦精品免| 丁香六月久久久| 日本激情一区二区三区| 国产成人高清在线播放| 久久国产免费观看精品3| 花季传媒app下载免费观看大全| 扒开老师的蕾丝内裤漫画| 国产亚洲婷婷香蕉久久精品| 中文字幕亚洲色图| 男女过程很爽的视频网站| 在线国产你懂的| 亚洲人成77777在线播放网站| 91手机看片国产福利精品| 欧美大交乱xxxx| 国产精品免费一区二区三区四区| 亚洲一区二区三区不卡在线播放| 14小箩洗澡裸体高清视频| 杨幂精品国产专区91在线| 国产亚洲精品仙踪林在线播放| 中国特黄一级片| 精品国产乱码一区二区三区麻豆| 成人欧美一区二区三区的电影| 健身私教弄了我好几次啊| JAPANESEHD熟女熟妇伦| 欧美一级高清免费播放|