国产热热热精品,亚洲视频久久】日韩,三级婷婷在线久久,99人妻精品视频,精品九热人人肉肉在线,AV东京热一区二区,91po在线视频观看,久久激情宗合,青青草黄色手机视频

Business / Economy

Yuan gains ground as global currency

By Bloomberg (China Daily) Updated: 2014-10-31 08:03

The yuan's share of global payments rose to a record in September as China bolstered efforts to promote international use of its currency.

The yuan accounted for 1.72 percent of payments, up from 1.64 percent the previous month, the Society for Worldwide International Financial Telecommunications reported on Thursday.

Yuan gains ground as global currency

The value of transactions increased 13.2 percent and the currency ranked seventh in terms of usage, Swift said.

China started direct trading between the yuan and the Singapore dollar this week, after making the euro exchangeable for its currency in Shanghai last month.

Similar links exist for the US, Australian and New Zealand dollars, the British pound and Japan's yen, while South Korea plans to announce measures on Friday to support yuan-related financial services.

"We're seeing companies seize the opportunities presented by China's currency liberalization to deepen business relationships in the world's second-largest economy," said Vina Cheung, global head of renminbi internationalization, payments and cash management at HSBC Holdings Plc in Hong Kong.

"The growth in renminbi payments between offshore trading centers such as Singapore, UK and Germany is encouraging."

A third of China's trade will be settled in yuan by 2015, and the currency will become fully convertible by 2017, HSBC said in the statement, reiterating forecasts.

The currency has strengthened 0.4 percent against the dollar this month, trimming its loss for the year to 1 percent, according to data compiled by Bloomberg. It has advanced 35 percent since a dollar peg ended in 2005.

China should take the opportunity to improve the market-oriented mechanism of the yuan when investors no longer expect moves to be one-sided, wrote Guan Tao, head of the balance of payments department at the State Administration of Foreign Exchange, in an article in the Shanghai Securities News on Thursday.

Yuan payments in Singapore surged 574 percent over the last nine months, the biggest jump among offshore yuan hubs excluding the Chinese mainland and Hong Kong, according to Swift.

Luxembourg and the UK boasted the second- and third-highest growth rates.

"Payments, foreign exchange and trade finance are the markers to watch for growth in renminbi internationalization," said Alex Medana, Hong Kong-based director of securities markets for Asia Pacific at Swift.

"The yuan is primarily used as a trade settlement currency, but it is worth noting that it is also making progress as an investment currency."

Yuan gains ground as global currency

Yuan gains ground as global currency

 Cross-border yuan settlement growing rapidly  China to start direct yuan-euro trade

 

 

Hot Topics

Editor's Picks
...
...
无锡市| 和静县| 赤壁市| 桐柏县| 松江区| 噶尔县| 沭阳县| 福贡县| 五大连池市| 天长市| 红河县| 西乌珠穆沁旗| 澜沧| 横峰县| 周至县| 拜泉县| 南澳县| 弥渡县| 德清县| 咸丰县| 库车县| 卢湾区| 龙南县| 南宁市| 册亨县| 奎屯市| 明光市| 宁阳县| 衡阳市| 美姑县| 宁强县| 肃南| 平乡县| 长汀县| 泰安市| 合山市| 江安县| 澄城县| 昌吉市| 景洪市| 从江县|