日批在线视频_内射毛片内射国产夫妻_亚洲三级小视频_在线观看亚洲大片短视频_女性向h片资源在线观看_亚洲最大网

chinadaily.com.cn
left corner left corner
China Daily Website

Money talks and London listens to the yuan

Updated: 2012-06-18 10:35
By Diao Ying in London ( China Daily)

Uncle Sam to dim sum

The internationalization of the yuan will also offer a new platform for companies and investors looking for alternative methods of financing.

The "dim sum bond" got its name from delicacies in Chinese cuisine such as spring rolls, shrimp dumplings and steamed buns. The name has been appropriated for fixed income denominated in yuan and was started in Hong Kong when the city became the first offshore center for yuan trading. The bond has become increasingly popular outside Asia and grew rapidly in Europe last year, according to Standard Chartered's Tyrrell.

British banks were involved in five dim sum bond deals with European companies and financial institutions last year. It has also been involved in three client deals so far this year, according to Tyrrell: "Over time, as the yuan is used more, more European corporates and financial institutions will be interested in transacting in yuan, either for their China business, when they can remit onshore, or as a way of diversifying their investor base."

The motivation for getting involved in dim sum bonds is also changing, he said. When the yuan market first developed offshore, a lot of investors were looking for a currency play rather than a bond play. At first, investors were looking to invest in the currency because they thought it was going to appreciate.

"Over time, it is developing into a more mature bond market," said Tyrrell. "It will tend to be more driven by traditional bond market influences."

That's particularly true this year, because of the fragile state of the global economy. If the investor sentiment is not there, there will be fewer bond issuances, according to Tyrrell. "There is definitely momentum in the yuan. It will not stop. It will grow," he said.

Chances and problems

Given the fact that the yuan is still not fully convertible, there is still a lot of work to be done to encourage people to hold it and conduct business with it, as they do with dollars.

The main issue for London as it attempts to develop into an offshore yuan trading center revolves around the lack of liquidity. That's due to both a paucity of knowledge about the yuan market and the limits of infrastructure to facilitate trade flows.

"Without liquidity, we cannot grow the pie and make the market more efficient," Law said. "Everybody is definitely very interested. The current situation is that people have just started looking into it," he said. "The involvement is still relatively small, but the amount of interest is actually very high."

Some observers have suggested that the pool of yuan liquidity in London can grow through a huge variety of sources. For instance, Standard Chartered recently issued yuan-denominated European Commercial Paper to investors in Europe.

"ECP is issued to investors. Then Standard Chartered holds the liquidity in yuan and can use that for trade finance. This will help to increase trade flows with China for European clients," Tyrrell said.

"As investors become more comfortable holding yuan, it will help build liquidity here."

Contact the reporter at diaoying@chinadaily.com.cn

Money talks and London listens to the yuan

 

Previous Page 1 2 Next Page

 
 
...
...
...
主站蜘蛛池模板: 超碰1000 | 亚洲视频在线观看一区二区 | 久久久av网站 | 日本一区二区久久 | 欧美中文日韩 | 4438x五月天 黄色在线观看免费视频 | 日韩一区欧美二区 | 久久网中文字幕 | 亚洲欧美综合在线观看 | 伊人影院中文字幕 | 国产91一区 | 免费一级欧美 | 亚洲国产成人在线观看 | 久久精品中文字幕 | 久久不雅视频 | 在线观看成人小视频 | 国产一级特黄a高潮片 | 在线看片中文字幕 | 日韩在线观看第一页 | 国产精品成人一区二区网站软件 | 九九精品在线观看 | 老汉色av | 免费黄网站在线 | 欧美性猛交xxxx免费看 | 四虎网站最新网址 | 在线观看视频一区二区 | 黄色大片网址 | 四虎影视在线播放 | 日韩在线视频不卡 | 日本精品久久久久 | 99视频国产精品免费观看a | 亚洲精品中文字幕在线观看 | 中日韩欧美在线观看 | 一区二区精品在线观看 | 久久久久久久久久久国产精品 | 亚洲一区二区三区高清 | 美日韩在线 | 国产三级成人 | 欧美疯狂做受xxxxx高潮 | 天堂中文在线视频 | 可以在线观看的av网站 |