State Administration of Foreign Exchange – Charm

Given prevailing headwinds, Hong Kong has the big opportunity as an offshore yuan hub: CICC

Cs news3 weeks ago02 mins

Hong Kong faces an unprecedented opportunity as an offshore hub for the currency, despite what is broadly seen as short-term pressure on the yuan, according to investment bank China International Capital Corporation (CICC). In the past, depreciation was largely driven by a wide interest rate differential between the US dollar and the yuan, which prompted…

My Take | Beijing’s US$3.2 trillion question: how much of China’s forex reserves go to Hong Kong?

Cs news3 months ago03 mins

China’s central bank chief Pan Gongsheng promised to park more of the country’s US$3.2 trillion foreign exchange reserves in Hong Kong, fanning speculation about how much more Beijing can earmark for the city’s assets. Beijing has always guarded the details of its forex portfolio reserves as classified information, so the exact amount of reserve funds…