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

US EUROPE AFRICA ASIA 中文
Business / Economy

London sees renminbi transactions take off

By CECILY LIU in London (China Daily) Updated: 2014-01-18 02:44

Rapidly rising renminbi transaction volumes are supporting London's ambition of becoming the Western world's offshore yuan center, according to figures released on Thursday by the City of London Corp.

Trade finance transactions using the Chinese currency totaled 27.94 billion yuan ($4.61 billion) in the first half of 2013, up from 13.8 billion yuan a year earlier.

Daily average trading volume of renminbi-related foreign exchange products expanded to $22.3 billion, up from $11.6 billion.

"Over the past few years, we're been delighted to see the use of the renminbi in the United Kingdom, and indeed globally, develop," said Mark Boleat, policy chairman at the City of London.

Boleat said his team has been working with private-sector banks in an initiative launched in April 2012 to make renminbi trade processing easier for European businesses and offer companies and investors the opportunity to trade, invest and bank in renminbi in London.

The initiative, which now involves 13 member banks in London, has been a key driver in London's development as an offshore renminbi market, which was welcomed by then Chinese Vice-Premier Wang Qishan in September 2011.

Since then, many new products and services denominated in renminbi have been launched in London.

More recent examples of progress in 2014 include Bank of China Ltd issuing a renminbi bond in London and investment management firm Ashmore Group becoming the first London-based entity to gain a renminbi qualified foreign institutional investor license to enter China's domestic securities market.

London's banks are also experiencing fast growth in corporate demand for renminbi-denominated trade transactions.

"The confidence in clients in utilizing and trading in renminbi has increased probably 200 percent since we started this initiative. So we've seen clients actually wanting to trade in renminbi and invoice in renminbi," said Sonia Rossetti, managing director of Europe head product management at Standard Chartered Plc.

Fang Wenjian, general manager of Bank of China's London branch, said there has been strong growth in renminbi trade finance and foreign exchange dealings. The bank has also seen a growing corporate willingness to hold renminbi deposits this year.

Fang said that renminbi-related transactions still have great potential in the capital markets, the fixed income market in particular. "If we continue to support the market with more products and education, the trend will go further," he said.

Despite London's rapid growth in renminbi-related activities, the city also faces challenges in building up volume faster. There's still a lack of awareness and understanding of renminbi transactions among many companies and investors, according to some London bankers.

"One of the problems we've found is that some fund managing companies or investors still haven't given enough allocations to renminbi assets. As they understand more and more about the renminbi and about China, we will become more successful in increasing volumes," Fang said.

Rossetti said that any such reluctance probably reflects the pace of change in new renminbi products and regulations.

"When you talk to a number of companies, they want to understand what implications may there be for them," Rossetti said.

...
...
主站蜘蛛池模板: 超碰超碰在线 | 国产亚洲精品久久久久动 | 在线a网| 国产精品二三区 | 日本wwwwwww| 国产午夜影院 | 国产亚洲精品久久久久久豆腐 | 日韩欧美视频在线播放 | 精品亚洲国产成av人片传媒 | 亚洲免费视频一区二区 | 国产视频在线观看一区二区 | 亚洲黄色激情视频 | 久久国产精品网站 | 91视频91 | 天天操天天爽天天干 | 九九久久国产 | 欧美成人一区二区三区 | 亚洲另类色图 | 好吊色视频在线观看 | 久久综合图片 | 狠狠干2018| 蜜桃久久av| 国产性生活大片 | 国产免费av一区二区 | 日韩欧美毛片 | 黄色三级小视频 | 成人网影| 日韩在线一二三 | 黄色国产在线 | 欧美色图亚洲天堂 | a√天堂网 | 久久久久久久久综合 | 三级视频网站 | 亚洲欧洲天堂 | 日韩av在线播 | 爱爱视频天天干 | 久久精品8| 狠狠综合| 国产片一区二区三区 | 国产乱国产乱300精品 | 精品成人免费视频 |