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

USEUROPEAFRICAASIA 中文雙語Fran?ais
Business
Home / Business / Macro

Currency's global role takes huge step closer

By Zhang Yuwei in New York | China Daily | Updated: 2013-02-25 07:04

Major US exchange to deliver yuan offshore contracts in HK

The internationalization process of the yuan has been given a major boost by the Chicago Mercantile Exchange.

On Monday, the owner of the world's biggest futures exchange will launch deliverable offshore yuan futures in Hong Kong by offering three-year contracts worth either $100,000 or $10,000. These are price ranges that will attract both hedge funds, retail traders and a generally more diversified client base, analysts believe.

KC Lam, the Singapore-based head of foreign-exchange products in Asia for the CME Group, said China's economic status - as the world's second-largest economy, the largest exporter and second-biggest importer - will lead to a growing global demand for its currency.

"Our decision to launch the USD/CNH (renminbi traded offshore) foreign exchange futures contracts is primarily commercially driven," Lam said.

The yuan has been used for business transactions in multiple offshore locations including Hong Kong, Singapore, and Australia. "Hong Kong is the choice for the offshore RMB launch due to its thriving commercialism and it is the doorstep of China," Lam said.

To move to the next stage of yuan internationalization, trading in the currency needs to become global and accessible to a diversified client base, "across hedge funds, proprietary trading firms, banks, as well as corporate and retail accounts," Lam said.

Bank of China - a key Chinese player in terms of promoting global business in yuan - formed a strategic alliance with the CME Group in March.

Related:

Currency expands its reach

Yuan business launched in Taiwan

BOC's Taipei branch to conduct yuan business

Yuan sees more international use in Nov

The steady advance of the yuan

Yuan loans from HK could hit 50b

Full convertibility of yuan ruled out

Previous Page 1 2 Next Page

Most Viewed in 24 Hours
Copyright 1995 - . All rights reserved. The content (including but not limited to text, photo, multimedia information, etc) published in this site belongs to China Daily Information Co (CDIC). Without written authorization from CDIC, such content shall not be republished or used in any form. Note: Browsers with 1024*768 or higher resolution are suggested for this site.
License for publishing multimedia online 0108263

Registration Number: 130349
FOLLOW US
勃利县| 长顺县| 五寨县| 长汀县| 普陀区| 饶阳县| 石柱| 巫溪县| 洛宁县| 承德市| 裕民县| 内江市| 漠河县| 独山县| 张家港市| 高碑店市| 拉孜县| 黄山市| 汉阴县| 永泰县| 蓝田县| 南京市| 盐源县| 河津市| 开封县| 新源县| 金坛市| 河源市| 永宁县| 蚌埠市| 中山市| 沙湾县| 汤原县| 聊城市| 泽库县| 长治县| 漳州市| 德庆县| 南郑县| 巴里| 建宁县|