Yuan

China’s record-low government bond yields spark fresh warning from central bank

18 Dec 2024 - 7:30PMvideocam

China urged to anchor yuan to non-US dollar currencies to empower domestic tools

12 Dec 2024 - 12:00PM

China-Africa relations

African banks set up shop in China as Beijing pushes for yuan-based trade

African banks are positioning themselves to take full economic advantage as Beijing seeks to de-dollarise its trade.

7 Dec 2024 - 8:00PMvideocam

More African banks are opening branches and offices in China to help facilitate growing trade ties. Photo: Shutterstock

Digital currencies

Bybit CEO says Chinese can trade crypto though VPN, but not with yuan

Bybit CEO Ben Zhou says the company plans to reapply for a Hong Kong licence next year even though regulators bar selling crypto to mainlanders.

5 Dec 2024 - 11:06PMvideocam

Chinese academics grapple with the idea of a rising East and a declining West

The notion faded from discussion for a while, but it continues to resonate.

3 Dec 2024 - 11:04PMvideocam

Bonds

China’s 10-year bond yield slumps to record low, pressuring yuan

‘Staggering’ new low signals ‘chilling risk forecast’ amid a deflationary spiral ‘eerily reminiscent’ of Japan’s long malaise, analyst says.

4 Dec 2024 - 5:00PM

The slump in bond yields complicates the central bank’s task of stabilising the yuan, which now faces more depreciation pressure. Photo: Shutterstock

China trade

China’s yuan hits lowest level in months as Trump tariff threats roil currencies

China’s currency is losing pace against the US dollar thanks to a wave of uncertainty following Donald Trump’s re-election.

3 Dec 2024 - 2:41PM

Currencies

Opinion | Trump’s fuming over unlikely ‘Brics currency’ belies risks of de-dollarisation

Trump’s threat of tariffs over a currency that will likely never exist is a reminder of how much clout the dollar has in the developing world.

4 Dec 2024 - 5:59PM

China’s plans for yuan unfazed by Trump’s pledge to protect ‘mighty US dollar’

Though Donald Trump has warned against attempts to undermine the US dollar, China is unlikely to change course on yuan internationalisation.

2 Dec 2024 - 8:30PMvideocam

China’s efforts to expand the overseas use of its currency are likely to see heightened resistance during Donald Trump’s second term as US president. Photo: Shutterstock

China digital currency

China’s digital yuan roared out of the gate, but stumbling blocks have popped up

Corruption and a slow adoption of the e-CNY risk undermining the groundbreaking progress that China’s digital currency has made over the past decade.

1 Dec 2024 - 9:00AMvideocam

The cumulative transaction value of China’s digital yuan had reached 7 trillion yuan (US$968 billion) as of the end of June. Photo: Xinhua

China-Russia relations

As rouble plummets, how will Chinese merchants get money out of Russia?

About 150,000 Chinese merchants are active on major Russian e-commerce platforms.

29 Nov 2024 - 9:30PM

Yuan to catch up to China’s position in world’s economy: ex-official

Outspoken former Chongqing mayor Huang Qifan says Hong Kong can play a key role in the internationalisation of the yuan.

25 Nov 2024 - 12:26PM

Editorial | More growth ahead as cross-border Connect turns 10

Status of Hong Kong as offshore financial hub for mainland China has been greatly enhanced by ever-widening investment scheme.

21 Nov 2024 - 6:30AM

Investors watch stock market trends at a securities firm in Nanjing, in east China’s Jiangsu province. A cross-border stock scheme, which is marking its 10th anniversary, provides mainland investors with new avenues to channel their money. Photo: Xinhua

Alibaba

Alibaba pulls in US$5 billion from dual-currency bond offering

The deal marks the biggest corporate bond issue of its kind in the Asia-Pacific region this year.

20 Nov 2024 - 10:38PM

Alibaba

Alibaba to sell bonds to repay debt, fund buy-back amid low rates

The Chinese e-commerce leader is issuing bonds denominated in US-dollar and yuan to help repay debt and fund stock repurchases.

18 Nov 2024 - 4:00PM

Letters | China should use US treasury holdings as leverage to lower US tariffs

Readers discuss how Beijing might work with the incoming Trump administration, shoebox housing and the retirement age in Hong Kong and the treatment of an Iranian protester.

14 Nov 2024 - 11:30AM

US presidential election 2024

China sets yuan fix to 14-month low as Trump win piles on the pressure

Yuan’s midpoint rate falls to 14-month low as Trump’s election throws most currencies other than the US dollar into uncharted waters.

13 Nov 2024 - 4:56PM

Most currencies, particularly China’s yuan, are facing depreciation pressures as Donald Trump’s reelection has generated uncertainty over the future of global trade. Photo: Getty Images

Bonds

HSBC’s 4.5 billion yuan panda bond to boost globalisation of Chinese currency

The bond, which pays an annual coupon of 2.15 per cent, also reinforces Hong Kong’s role as the world’s offshore yuan centre, bank says.

13 Nov 2024 - 10:07AM

Mexican leader ‘convinced’ US ties will stay positive after Trump’s election win

But Chinese investments in country such as electric-vehicle factories plus looming changes to a key free-trade deal could complicate matters.

7 Nov 2024 - 8:49AMvideocam

China’s yuan falls sharply as Donald Trump declares US election win

Exchange rate between US dollar and yuan could become a bargaining chip in negotiations between China and the US on tariffs, analyst says.

8 Nov 2024 - 3:50PM

A bank employee counting Chinese yuan in Haian, Jiangsu province. Photo: NurPhoto via Getty Images

US financial-sanction threat should make China rethink forex holdings: economist

‘Possible future sanctions from the US’ under a new US president have set off alarms in Beijing’s policy circles.

1 Nov 2024 - 8:30PM

China’s foreign-exchange reserves totalled US$3.316 trillion as of September. Photo: Shutterstock

Beijing urged to offer more yuan loans overseas to help dethrone US dollar

National Academy of Development and Strategy says China should be main source of liquidity for developing countries.

1 Nov 2024 - 4:30PM

China, Brics bloc not ready to reject US dollar despite Russian entreaties

Though Vladimir Putin has called for the group of emerging economies to develop an alternative payment system, enthusiasm appears limited.

25 Oct 2024 - 6:00PMvideocam

China manufacturing

Why ‘significant’ shipping deal bolsters China’s manufacturing, boosts yuan use

Hudong-Zhonghua Shipbuilding is due to deliver six vessels to a Hong Kong containership lessor by 2028.

22 Oct 2024 - 10:20AMvideocam

In terms of global shipbuilding orders, China has gradually pulled ahead of South Korea amid intense competition between their respective shipyards. Photo: Xinhua

Editorial | Time will show worth of strategy laid out by China’s top economic planner

Plan unveiled by the National Development and Reform Commission adds to confidence that China’s 5 per cent growth target can be met.

14 Oct 2024 - 1:56PMvideocam

Chairperson of China’s National Development and Reform Commission (NDRC), Zheng Shanjie (third from left), attends a press conference in Beijing on Tuesday. Photo: EPA-EFE

Foreign exchange market

China’s yuan faces volatility amid US pressure and home-grown stimulus: analysts

A stronger yuan could drag down China’s export growth, and the central bank is expected to guard against excessive appreciation.

7 Oct 2024 - 7:00PM