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Foreign exchange market

Foreign exchange market
The global foreign exchange (forex) market has ballooned in recent decades as more and more economies liberalise their capital accounts.
Chinese 100-yuan notes at a Bank of China branch in Hong Kong. Photo: Reuters
Banking & finance

How the RMB Business Facility will help consolidate Hong Kong’s financial role

Quota expanded to 500 billion yuan from Friday, with tenor increased to two to three years, up from one.

Japan

As Japanese yen sinks to a 40-year low, focus turns to the carry trade

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South Korea

South Korean won holds steady as historic 24-hour trading begins

Banking & finance

Hong Kong broadens yuan’s financial footprint as currency gains global appeal

Hong Kong Monetary Authority widens scope of yuan finance to solidify status as ‘offshore laboratory’ for currency amid de-dollarisiation trend.

Hong Kong is looking to boost its position as the world's leading offshore yuan hub. Photo: Felix Wong
China economy

Opinion | When and how will China ease capital controls?

While China has reasons to maintain capital controls, the recent crackdown on three Hong Kong brokerages is not meant to discourage mainland outbound investment.

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Banking & finance

Indonesia set to issue US$1 billion in panda bonds in China

The Southeast Asian country will offer the bonds in an attempt to better stabilise its national finances as the rupiah continues to fall.

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Banking & finance

Can Shanghai’s offshore finance push test Hong Kong’s dominance?

Beijing is accelerating Shanghai’s offshore finance ambitions, raising questions over whether Hong Kong’s long-held edge can endure.

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Shanghai is seeking to expand its offshore finance business under a new action plan backed by Beijing. Photo: Getty Images
Yuan

China’s central bank sets weaker yuan midpoint against US dollar for third day

The move comes after European Central Bank chief urged global leaders to discuss undervaluation of the Chinese currency.

Banking & finance

China’s trading crackdown seen boosting Hong Kong as official capital hub

Analysts at ‘Summer Davos’ gathering highlight pivot towards official cross-border connect schemes to intermediate domestic wealth ‘on China’s own terms’.

Banking & finance

The panda bonds: how China uses assets to boost yuan, cement partnerships

Brazil is preparing to issue panda bonds, another indicator of the rising popularity of yuan-denominated assets amid a de-dollarisation trend.

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The world’s 10th largest economy, Brazil, is the latest country to issue panda bonds. Photo: DPA
Banking & finance

Opinion | AI has been known to hallucinate. So have financial markets

Stock markets are booming on the assumption that US tech giants will deliver, but as liquidity becomes scarce, a reality check will ensue.

A sign displays outside Nasdaq on the day of SpaceX’s initial public offering in New York on June 12. Photo: Reuters
China's economic recovery

China’s policy blitz at Lujiazui Forum – what the monetary overhaul means

Regulators are leveraging currency strength to formalise outbound routes, granting fresh quotes for global assets while narrowing the interest-rate corridor.

US-China trade war

China touts new finance tools to fend off sanctions

Anti-sanctions measures and efforts to globalise the yuan were among key topics as Chinese finance regulators and policymakers addressed the 2026 Lujiazui Forum.

Yuan

Shanghai to lead ‘financial superpower’ push as China unveils plan to boost yuan

China’s central bank governor speaks at annual financial forum about further opening repurchase facilities and offshore trading to foreign central banks.

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HAIAN, CHINA - MARCH 20, 2024 - A staff member counts Chinese yuan at a bank in Haian, East China’s Jiangsu province, March 20, 2024. (Photo credit should read CFOTO/Future Publishing via Getty Images)
China-Latin America relations

Argentina edges back to China on currency swap despite US pressure

Buenos Aires denies negotiating renewal, but the US$19 billion swap expires August 6, and Argentine reports say talks are already advancing.

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People’s Bank of China governor Pan Gongsheng (right) with Santiago Bausili, the president of the Central Bank of Argentina, at the PBOC-BIS Symposium in Shanghai on Wednesday. Photo: Handout
Japan

Opinion | Short-sellers are circling as Japan’s yen presents a tempting target

A Japan declining in competitiveness presents a tempting target, with short-sellers likely to also target economies like India and Indonesia.

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Yuan

Yuan poll finds 95% of overseas firms expect to sustain or boost use of currency

Increased international adoption of China’s currency highlights progress in Beijing’s strategic push amid the US dollar’s global financial dominance.

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Hong Kong Monetary Authority (HKMA)

Hong Kong, Indonesia move towards direct transactions in yuan, rupiah

Agreement between People’s Bank of China, HKMA and Bank Indonesia aims to enhance efficiency and encourage use of the currencies.

Bundles of Indonesian rupiah are pictured at a currency exchange office in Jakarta on June 4, 2026. Photo: AFP
Yuan

‘Increasingly influential’ use of China’s currency puts euro on notice

The US dollar is still dominant, but a slump in Europe may see China’s currency gain strength and reach the No 2 spot in global settlements.

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Banking & finance

Hong Kong banks tighten rules in mainland China as Beijing pores over outflows

Some banks are exercising more caution with offshore accounts for their mainland China clients amid tighter investment controls from Beijing.

Chinese offshore investment

Going global? Here’s a quick look at 4 options for China’s offshore investors

As Beijing tightens its grip on unlicensed stock platforms, mainland China’s retail players utilise these state-sanctioned options to diversify globally.

Mainland China’s retail investors have four primary legal avenues to diversify their portfolios overseas. Photo: Shutterstock
Yuan

For a yuan in deeper markets, Fed ex-head cites dollar playbook, flags risks

Meanwhile, surging costs are ‘likely to hit US inflation data a bit harder and perhaps longer’ than expected, according to the former central bank official.

US dollar and Chinese yuan notes are seen with national flags in the backdrop. Photo: Reuters
Hong Kong stock market

US$32b worth of Hong Kong assets involved in transborder trade crackdown: Citic

The assets involve a crackdown on Futu, Tiger Brokers and Long Bridge for offering mainland Chinese investors access to unlicensed trading.

Banking & finance

China cracks down on Tiger and Futu for illegal cross-border stock trading

ADRs of Tiger Brokers’ owner and Futu’s US-listed shares plunge after the suspension of their stockbroking businesses on the mainland.

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Yuan

China’s yuan hits 3-year high as global banks issue bullish forecasts

Beijing has set the yuan at its strongest level against the US dollar since early 2023, with banks projecting further appreciation.

Beijing has set the Chinese yuan at its strongest level against the US dollar since February 2023. Photo: Shutterstock
Yuan

China’s US Treasuries slump may not be what it seems

A reduction in China’s direct holdings of US government debt may be partly offset by the nation holding Treasuries via third parties.

Photo: AFP
Yuan

Editorial | Why China’s yuan is gaining appeal

More countries find yuan financing attractive. Even without full convertibility, the Chinese currency offers something invaluable.

China-Latin America relations

How a US$5 billion Chinese lifeline to Argentina shrank to almost nothing

Central bank records show the swap balance fell to US$675 million as Washington pressed Buenos Aires to wind it down.

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