综合一区欧美国产,99国产麻豆免费精品,九九精品黄色录像,亚洲激情青青草,久久亚洲熟妇熟,中文字幕av在线播放,国产一区二区卡,九九久久国产精品,久久精品视频免费

Make me your Homepage
left corner left corner
China Daily Website

Yuan trade settlements encouraged in SAR

Updated: 2012-06-28 04:26
By Li Tao, Sophie He and Chen Jia in Hong Kong (China Daily)

The central government said on Wednesday that it will encourage foreign investors to use China's currency to conduct trade settlements and investment in Hong Kong.

The central government will also push forward joint ventures for stock exchanges in Hong Kong, Shenzhen and Shanghai, as well as introduce exchange-traded funds on both the Hong Kong and mainland stock markets.

Yuan trade settlements encouraged in SAR

Vice-President Xi Jinping, accompanied by Hong Kong Chief Executive-Elect Leung Chun-ying, talks with Hong Kong Chief Executive Donald Tsang at the National Museum of China in Beijing on Wednesday. The museum is featuring an exhibition celebrating Hong Kong's achievements in the past 15 years. Sheng Jiapeng/China News Service

The moves are part of a package of policies for Hong Kong ahead of the 15th anniversary of its return to China on July 1.

The development of Hong Kong's offshore yuan businesses accelerated rapidly last year, as the total yuan trade settlement value in Hong Kong increased more than four times over 2010, the Hong Kong Monetary Authority said in a document released in late February.

As a prime platform for offshore yuan trade settlement, Hong Kong's banks handled a record 1.91 trillion yuan ($300 billion) in such trade last year, up 419 percent from 369.2 billion yuan a year earlier, said the city's de facto central bank.

In 2011, China's trade settled in yuan amounted to 2.08 trillion yuan, which was about 9 percent of the country's total imports and exports for the year, according to the People's Bank of China.

ETFs to get welcome

Meanwhile, the long-awaited issue of ETFs that track Hong Kong shares and those that are linked to A-shares are widely expected with an initial quota of 20 billion yuan each.

Analysts said that they don't believe the ETFs will be able to boost stock markets single-handedly. They said the move is more of a policy signal rather than a decisive factor for the markets.

Tse Kwok-leung, head of economics and policy research at Bank of China (Hong Kong), said he doesn't see the introduction of new ETFs stimulating the stock markets. The current stock market downturn is a result of a weak global economy, said Tse, adding that the recovery of the stock market needed to be backed by the recovery of the real economy.

But Tse believes investors from both the mainland and Hong Kong will be very interested in the approaching ETFs, "as they will provide a direct access to each other's bourse for stock trading".

Tse said although the actual initial scale of the ETFs is yet to be unveiled, the cooperation in financial markets between mainland and Hong Kong has always been step-by-step, and the scale will be expanded gradually.

The ETFs are expected to get a warm welcome by investors.

Ronald Wan, honorary chair professor at the Renmin University of China, also believes that Hong Kong branches of mainland brokerages will share the quota of A-share tracking ETFs. "They will have certain advantages in developing yuan-denominated products, due to their background," he said.

As for the joint ventures for stock exchanges in Hong Kong, Shenzhen and Shanghai, Chen Daofu, an economist at the State Council's Development Research Center, believes the collaboration could be in the areas of risk management, product design and trading system operation, which can change the current competition into a cooperative relationship.

Contact the writers at litao@chinadailyhk.com, sophiehe@chinadailyhk.com and chenjia@chinadaily.com.cn

 
...
万山特区| 达拉特旗| 鄂伦春自治旗| 吉安市| 巫山县| 鄯善县| 江川县| 巴彦淖尔市| 长白| 新津县| 六枝特区| 湘潭县| 子长县| 阿拉尔市| 朝阳县| 南昌市| 布拖县| 正安县| 昌邑市| 肇源县| 青田县| 长葛市| 谢通门县| 宁陕县| 金平| 夏津县| 沂源县| 衡山县| 岗巴县| 澄迈县| 修文县| 正宁县| 温州市| 鄂尔多斯市| 石嘴山市| 双流县| 鄢陵县| 济阳县| 玛沁县| 昌乐县| 蕉岭县|