HONG KONG Even as China quickly expands the use of its currency to financial hubs in Asia and Europe this year, bankers are already looking to Canada and Middle East as the next growing regions for their offshore yuan Bunsen's.
HONG KONG China financial institutions are rushing to expand their business beyond Hong Kong, aiming to broaden their investor base to Europe and the United Staets with yuan products.
NEW YORK Shares of Chinese e-commerce site Alibaba Group could more than double in the next three years, vaulting the company past Apple Inc as the world's biggest publicly traded company, Mark Yusko, head of the $4 billion Morgan Creek Asset Management, said on Wednesday.
BEIJING China needs to loosen capital controls and develop offshore yuan markets to help encourage yuan holding and bolster its drive to internationalize the currency, a senior executive at Bank of China, said on Wednesday.
HONG KONG/SINGAPORE Central banks from Asia to America are adding the Chinese currency to their portfolios as growing trade ties and a flurry of reforms by Beijing are leading reserve managers to view the renminbi as a viable reserve currency.
BEIJING The Industrial and Commercial Bank of China Ltd (ICBC), China's largest bank by market capitalization, plans to expand in emerging markets and wants to be the authorized bank for clearing yuan trades in more countries, it said on Tuesday.
SHANGHAI All it would take is a handshake: China's president and Japan's prime minister greet each other cordially for a bilateral meeting at an Asia-Pacific leaders' summit, and from there deals are approved, consents are granted, and doing business starts looking a little more straightforward.That is the hope of the Japanese business community in China, including Bank of Tokyo-Mitsubishi UFJ (BTMU) [MTFGTU.UL], according to Hidekazu Horikoshi, the China head of Japan's biggest lend
NEW YORK Hedge fund manager Jim Chanos, who has a long-running bet against China, said that the country's credit bubble was starting to cause capital outflows to accelerate and may ultimately lead to weakness in the nation's currency.
LONDON Britain leaving the European Union (EU) would not harm London's ability to compete as a global financial center, but could threaten the bloc's ability to attract investors, the chief executive of the London Stock Exchange said on Tuesday.
HONG KONG China has yet to explain why the Hong Kong-Shanghai stock trading link-up missed its expected launch on Monday, but the landmark scheme to give investors in Hong Kong and the mainland direct access to each others' market had failed to reconcile critical tax differences.
LONDON London Stock Exchange Group(LSE) is aiming to list Chinese equity futures in London in the next stage of its plans to tap the world's second-largest economy, the bourse's chief executive told Reuters.