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 / Markets

Global interest grows in China's currency, debt: Fitch

(Xinhua) Updated: 2015-01-25 16:02

BEIJING -- The Chinese currency yuan, or renminbi, continues its ascent among international payment settlements, trade and currency investment, ratings agency Fitch said in their latest report.

A rapidly expanding network of offshore yuan clearing centers has facilitated direct access to China's onshore financial markets, Fitch said.

"We expect the proliferation of these offshore clearing centers to drive greater issuance of dim sum bonds by both Chinese and non-Chinese governments, financial institutions and corporates in 2015," it said.

Dim sum bonds are yuan-denominated bonds issued outside the Chinese mainland. They originated in Hong Kong and the term comes a style of essentially Cantonese cuisine that involves a variety of small delicacies.

In 2014, eight new offshore yuan clearing centers opened in major financial centers - Doha, Frankfurt, London, Luxembourg, Paris, Seoul, Sydney and Toronto. So far in 2015, another two have opened their doors in Bangkok and Kuala Lumpur. There are now 14 offshore yuan clearing centers.

These banks convert local currency directly into renminbi without using a US dollar stepping stone, reducing time and costs. Hong Kong controls the vast majority of offshore yuan flow, though the share is now about 70 percent, down from an average of around 80 percent in 2012.

According to payment services company SWIFT, more than 50 countries and regions now use the yuan for more than 10 percent of their payments with China's mainland and Hong Kong.

The expansion of clearing centers underlines the potential of dim sum bonds in 2015 and beyond. The size of the dim sum bond market has grown from an equivalent 5 billion U.S. dollars at the end of 2009 to approximately $70 billion at the end of 2014, though it is still a tiny fraction of the 5.8-trillion-U.S.-dollar local yuan bond market.

In October 2014, the British government became the first non-Chinese sovereign to issue dim sum bonds worth 3 billion yuan ($490 million). Australia's New South Wales government then issued 1 billion yuan in dim sum bonds, two days after Sydney became a clearing center in November.

Fitch expects other sovereigns with clearing centers to follow suit with their own dim sum bond issues in 2015.

Hot Topics

Editor's Picks
...
庆城县| 枣阳市| 尖扎县| 金川县| 公安县| 繁昌县| 花莲县| 湘阴县| 嘉善县| 城固县| 抚州市| 宕昌县| 淅川县| 读书| 云梦县| 拜泉县| 宜良县| 宣城市| 独山县| 清水河县| 印江| 平原县| 洛浦县| 明水县| 通江县| 唐山市| 仁化县| 前郭尔| 龙海市| 马山县| 甘泉县| 集安市| 萍乡市| 中方县| 尼木县| 青龙| 普兰店市| 开封市| 长沙市| 资阳市| 昌都县|