Latest news with #crossBorderTrade
Zawya
26-05-2025
- Business
- Zawya
China raises cross-border yuan use requirement for major banks, Bloomberg News reports
China's central bank asked its major lenders to raise the share of yuan when facilitating cross-border trade, Bloomberg News reported on Monday, citing people familiar with the matter. The People's Bank of China increased the floor ratio for yuan-denominated trade transactions to 40% from 25% as part of its recent adjustment to the Macro Prudential Assessment, the report said. Reuters could not immediately confirm the report. (Reporting by Kritika Singh in Bengaluru; Editing by Toby Chopra)
Bloomberg
26-05-2025
- Business
- Bloomberg
China Raises Cross-Border Yuan Use Requirement for Major Banks
China's central bank asked its major lenders to raise the share of yuan when facilitating cross-border trade, in its latest push for the use of the currency as the world grapples with the onslaught of tariffs by the US. The People's Bank of China increased the floor ratio for yuan-denominated trade transactions to 40% from 25% as part of its recent adjustment to the so-called Macro Prudential Assessment, according to people familiar with the matter, who asked not to be identified discussing a private matter. While not mandatory, banks missing the ratio often receive a lower score in regulatory review which will impact their future business expansion.
South China Morning Post
19-05-2025
- Business
- South China Morning Post
Hong Kong offers vital linkages in aiding Qatar-China investment growth, bank says
Hong Kong can become a link for cross-border capital flows between Qatar and China, creating opportunities for investors in renewable energy and technology, digital currency and sustainable finance, according to a top executive at Standard Chartered. 'Mainland China has a market, Hong Kong has a big toolbox, and if you have a vision and want to invest, the three of us together should be a good match,' Mary Huen Wai-yi, the bank's CEO of Hong Kong, Greater China and North Asia, said in a briefing on Thursday, after returning from a government-led business promotion trip. As Qatar wants to diversify its economy by reducing its dependence on oil and gas, Huen said cross-border trades with China in new energy, financial services and technology were expected to increase. Investors could benefit from Hong Kong's deep capital market and connectivity with mainland China, she added. Hong Kong Chief Executive John Lee Ka-chiu led a business delegation to Qatar and Kuwait last week to deepen trade links with the Middle East amid a US-China tariff war. Huen was among 50 top executives and entrepreneurs from Hong Kong and mainland China on the trip. Middle East businesses were interested in China's power in artificial intelligence and other technology capabilities, Standard Chartered's Huen says. Photo: Jonathan Wong Qatar's GDP per capita of US$121,610 is among the largest in the economies in the region, thanks to its huge oil and gas reserves, according to the International Monetary Fund. Its wealth fund Qatar Investment Authority is the eighth largest globally with US$510 billion of assets, according to data compiled by Global SWF. China's capabilities in artificial intelligence and other technologies drew interest from Middle East investors, Huen said, citing discussions held during the trip. These include flying cars as Chinese carmakers jostle to build early advantage in the low-altitude mobility economy.
