Construction cranes stand on the site of Wood Wharf, a development by the Canary Wharf Group, beyond the HSBC Holdings Plc building, in the Canary Wharf business district in London, UK File photo: BLOOMBERG/JASON ALDEN
Yang Aimin, who has run the UK operations of China’s second-largest lender since 2018, said last week he is targeting double-digit clearing volume growth in 2022 after it grew 18% last year to ¥11.9-trillion. He is also expecting the business of servicing Chinese companies listed in London to grow. But Yang remains hopeful on the outlook for closer financial ties, saying one way the UK could encourage more investment is to allow renminbi bonds to be accepted as collateral in UK markets. That could bolster the amount of renminbi holdings and promote more trading in all types of yuan assets.
And London remains a relative minnow when it comes to offshore renminbi trades. Hong Kong dominates with three-quarters of the market with the UK in second place on 6.6%, ahead of Singapore’s 3.3% share, according to data compiled by the Society for Worldwide Interbank Financial Telecommunication .It’s a familiar challenge for Yang, who spent his early career at CCB promoting the use of renminbi interest rate swaps, a hedging tool common in global markets that didn’t exist in China until 2006.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
South Africa Latest News, South Africa Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
China punished more than 600,000 government officials for corruption and misconduct last yearLast week, the Communist Party's top disciplinary agency vowed to show 'no mercy' to those who 'try to build political gangs.' PresidencyZA are you guys taking notes? President of Malawi, Dr Lazarus Chakwera fired entire cabinet New cabinet announced in two days Three ministers facing charges Lands - arrested bribery Labour - diverting COVID-19 funds Thirdly - meddling with fuel tender Dr Chakwera elected 2020 promising to fight corruption
Source: BISouthAfrica - 🏆 34. / 51 Read more »
China accused of interference as Australia PM's WeChat account vanishesChina accused of interference as Australia PM's WeChat account vanishes Australian Prime Minister Scott Morrison's WeChat account has disappeared, prompting accusations of Chinese 'interference' from senior members of his government Monday.
Source: TheSAnews - 🏆 25. / 59 Read more »
Inside secretive training that US Green Berets give to troops who may have to take on Russia or China'Foreign internal defense is one of the important tools in our toolbox,' a Green Beret assigned to a National Guard unit told Insider. It’s not a secret if you are reporting it! Just saying lol
Source: BISouthAfrica - 🏆 34. / 51 Read more »
Emergency services still on standby at China emporium in Durban following Friday's fire - SABC News - Breaking news, special reports, world, business, sport coverage of all South African current events. Africa's news leader.Emergency teams are still on standby at the China emporium building in the Durban CBD. This after a fire broke out on Friday forcing road closures around the city. SABCNews I know we all probably must have heard about Bitcoin but don't know how it works, I tried it in a week ago by a man who recommended me to Leticia_thomas7 on Twitter She guides me through and i made a return of R15500 after a week of trading, connect with her As a mother of two kids I have battled alot with my financial state to the point of begging from friends just to survive,until I started Bitcoin trading with the help of AMBREYMARCUS1 I made a successful withdrawal of R 200,000 with the help of AMBREYMARCUS1 .
Source: SABCNews - 🏆 37. / 51 Read more »
China warns of air pollution risks during Beijing Winter Games - SABC News - Breaking news, special reports, world, business, sport coverage of all South African current events. Africa's news leader.Weather conditions ahead of the Beijing Winter Olympics at the start of February are “very unfavourable” when it comes to air quality, China’s environment ministry spokesman Liu Youbin warned on Monday. MichaelWeldon_ opened my eyes. I'm now able to read the market by myself and to understand how price reacts to key levels of support and resistance. so far my account is growing nicely. MichaelWeldon_ As a mother of two kids I have battled alot with my financial state to the point of begging from friends just to survive,until I started Bitcoin trading with the help of AMBREYMARCUS1 I made a successful withdrawal of R 200,000 with the help of AMBREYMARCUS1 . I'm here to show my appreciation to TarellaCampbel who took me out from zero to hero. I'm so glad to be among your winning team ma'am and I will always show my gratitude and work with you always.
Source: SABCNews - 🏆 37. / 51 Read more »