Advertisement
Advertisement
TOPIC

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.
Beijing has been striving to internationalise China’s yuan in recent years. Photo: Shutterstock
Banking & finance

Yuan, Hong Kong dollar bonds surge as issuers seek cheaper funding

Issuance of dim sum, panda and wonton bonds accelerates as Beijing promotes the yuan’s global use and deeper cross-border access broadens demand.

Yuan

Open Questions | US economist Barry Eichengreen on how de-dollarisation could actually look

videocam
19
China stock market

Evergrande’s fine, China cuts US Treasury holdings: the numbers moving markets

Banking & finance

Japan’s yen is falling yet again. What could Washington and Tokyo do next?

Another US-Japan intervention may be needed to prop up the Japanese currency, as a US Treasury rout fuels the yen carry trade, analysts say.

15
A man walks past an electronic screen displaying the current Japanese yen exchange rate on August 3, after a rare joint US-Japan intervention to prop up the currency. Photo: Reuters
Uzbekistan

Jim Rogers eyes up China’s yuan as he warns of a US market crash

Legendary investor lauds the yuan but says his cash holdings are still in US dollars because the Chinese currency lacks full convertibility.

Banking & finance

Opinion | Just like with the yen, America cannot save the AI bubble

The Japanese currency and US tech stocks share the same fatal problem: momentum can’t survive broken fundamentals.

videocam
4
Advertisement
Advertisement
Advertisement
Bonds

Hong Kong to list first Shanghai free-trade zone bond to defend yuan hub status

HKEX announces that a Shanghai Electric subsidiary is set to list a 1.5 billion yuan green bond later this month.

A view of the Hong Kong skyline. Photo: Getty Images
US-China trade war

US faults China over vague overseas lending, warns of emerging-market debt risks

US State Department introduces tougher disclosure requirement covering sovereign loans, liabilities and collateral.

videocam
12
Banking & finance

China’s panda bond market surges as Goldman Sachs flags limits to yuan expansion

Issuance of yuan-denominated debt surges, including in dim sum bond market, but sustained global use of yuan seen requiring broader access and stronger finance links.

China-Latin America relations

Argentina extends US$19 billion China currency swap despite US pressure

Buenos Aires locks in the yuan line until 2031, months after the US Treasury Department offered a rival facility.

videocam
17
Argentine President Javier Milei campaigned on a pledge never to do business with communist governments, but later sought Beijing’s help to extend the currency swap. Photo: Reuters
Yuan

China needs a stronger yuan, ‘fiscal boost’ to drive near-term growth: analysts

Rebalancing economy and offsetting a record trade surplus requires targeted stimulus to counter growing global trade barriers, analysts say.

Goldman Sachs analysts have weighed in on the strength of China’s yuan. Photo: Shutterstock Images
Banking & finance

The US helped boost the yen. Can China do the same for the Australian dollar?

Currency traders believe Beijing’s economic policies could give the Australian dollar a boost. Analysts say things are more complex in reality.

videocam
8
Japan

US-Japan trade thaw driven by shared yen for stronger currency

How long this boost in relations will last, though, depends on whether the yen can hold its value, experts say.

Banking & finance

China’s foreign reserves hold steady as external earnings stay in private hands

Hong Kong absorbed nearly two-thirds of mainland China’s portfolio outflows last year and now holds about half of the total external stock, IIF says.

China’s banks, companies and investors operating outside the central bank’s reserve holdings became net creditors in their own right at the end of 2025, according to the Institution of International Finance. Photo: Shutterstock
Banking & finance

Rare US-Japan intervention as yen hits 40-year low: what does it mean?

Washington steps in to save Tokyo’s weakened currency in first joint yen-buying action for almost 30 years, causing its value to surge.

19
A notepad in front of US Secretary of the Treasury Scott Bessent reads “To Do Buy Japanese Yen $5-10 bil” during a cabinet meeting on Friday. Photo: Reuters
Banking & finance

China’s CIPS to become settlement norm in Mongolia within 2 years: Golomt Bank

Six months after Golomt adopted the technology, 96 per cent of yuan payments moved from Swift to China’s payment system, the bank says.

Yuan

China’s offshore yuan hits 3-year high as Beijing signals policy support

Politburo’s pledge to stabilise growth and boost capital markets helps drive rally, reinforced by days of relatively strong reference rates by the central bank.

Advertisement
Advertisement
Advertisement
Yuan

China stokes panda bond boom in bid to grow tiny market

Overseas borrowers in China’s onshore yuan debt market will avoid some fees until 2028 as regulators seek to grow international use of the currency.

Photo: Shutterstock
Bonds

Shanghai Clearing House targets global growth with expanded offshore yuan push

SHCH will broaden its clearing services across offshore yuan bonds, interest rates and foreign exchange products.

videocam
Banking & finance

Beijing scraps panda bond fees to bolster global market for yuan debt

Analysts say removing some expenses for foreign borrowers will help funnel more yuan overseas and create a large offshore liquidity pool of China’s currency.

Bonds

China vows to improve panda bond ratings to lure more foreign capital

Body overseeing interbank market, where most panda bonds are traded, sets August 1 deadline for rating agencies to comply.

Chinese regulators are looking to improve the quality of credit ratings for yuan-denominated assets known as panda bonds. Photo: CFOTO/Future Publishing via Getty Images
Banking & finance

Chinese bank touts digital currency platform’s largest transfers yet

Bank of China uses mBridge for two cross-border transfers worth more than US$1.7 billion each, as CBDC platform gathers momentum.

By late June, total cumulative transactions on mBridge passed 600 billion yuan (US$88.6 billion). Photo: Shutterstock Images
Chinese offshore investment

Beijing targets offshore tax dodging, intensifying cross-border capital scrutiny

Major financial outlets blast offshore shell structures after case involving the Hong Kong entity of a mainland social media platform.

videocam
Banking & finance

China speeds up new overseas quotas to expand global reach of domestic investors

Move to expand QDII quotas signals a deeper opening of China’s markets and growing appetite for global assets.

Fintech

China-UAE retail QR payment link to boost the yuan’s global push

Beijing linking its retail payment networks with Dubai is another step toward yuan internationalisation and reducing US dollar reliance.

Bank of China (BOC) will act as the exclusive clearing bank for Jaywan, the UAE’s national debit card. Photo: Handout
Yuan

China eyes broader global access to yuan assets, as panda bond demand surges

Beijing plans further reforms to make it easier to issue and trade panda bonds, as it focuses on boosting the yuan’s role as a global currency.

A staff member counts stacks of yuan banknotes at a credit cooperative in east China’s Shandong province. Photo: Xinhua
Hong Kong economy

Opinion | Connect scheme for gold shines light on China’s financial liberalisation

The Connect model has evolved from isolated reforms into a blueprint for China’s financial opening up, with Hong Kong as the bridgehead.

Banking & finance

China increases holdings of US Treasuries despite diversification trend

Overall foreign holdings climb to US$9.371 trillion in May, with China’s rising to US$659.3 billion after hitting an 18-year low in April.

8
Advertisement
Advertisement
Advertisement
Help preserve 120 years of quality journalism.
SUPPORT NOW
Advertisement
Advertisement
Advertisement
Advertisement
Advertisement
Advertisement
Advertisement
Advertisement
Advertisement
Advertisement
Advertisement
Advertisement