Singapore enters offshore yuan market

Reading Time: 1 minute

DimSumBondASEAN’s financial metropolis of Singapore comes a step closer to being a trading hub for yuan-denominated stocks and other investment vehicles.

On August 5, the first stock on the Singapore Exchange is going to be traded in both Singapore dollar and yuan, Yangzijiang Shipbuiding Holdings Ltd, giving equity investors the option of trading stocks in yuan which was only possible for non-Chinese investors in Hong Kong before.

Earlier in July, China said it will extend its Renminbi Qualified Foreign Institutional Investor pilot programme, which allows overseas investors to invest in Chinese securities using offshore yuan, will be expanded to London, Singapore, Taiwan and other locations.

Singapore is trying to cement cemented its ambitions to become an offshore centre for the use of the Chinese currency as HSBC and Standard Chartered became the first banks to issue bonds denominated in yuan. The two banks issued a combined 1.5 billion yuan ($245 million). Both are listed on the Singapore Stock Exchange.
Do you like this post?
  • Fascinated
  • Happy
  • Sad
  • Angry
  • Bored
  • Afraid

Reading Time: 1 minute

ASEAN’s financial metropolis of Singapore comes a step closer to being a trading hub for yuan-denominated stocks and other investment vehicles.

Reading Time: 1 minute

DimSumBondASEAN’s financial metropolis of Singapore comes a step closer to being a trading hub for yuan-denominated stocks and other investment vehicles.

On August 5, the first stock on the Singapore Exchange is going to be traded in both Singapore dollar and yuan, Yangzijiang Shipbuiding Holdings Ltd, giving equity investors the option of trading stocks in yuan which was only possible for non-Chinese investors in Hong Kong before.

Earlier in July, China said it will extend its Renminbi Qualified Foreign Institutional Investor pilot programme, which allows overseas investors to invest in Chinese securities using offshore yuan, will be expanded to London, Singapore, Taiwan and other locations.

Singapore is trying to cement cemented its ambitions to become an offshore centre for the use of the Chinese currency as HSBC and Standard Chartered became the first banks to issue bonds denominated in yuan. The two banks issued a combined 1.5 billion yuan ($245 million). Both are listed on the Singapore Stock Exchange.
Do you like this post?
  • Fascinated
  • Happy
  • Sad
  • Angry
  • Bored
  • Afraid