Singapore enters offshore yuan market

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.



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ASEAN'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,...

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.



Support ASEAN news

Investvine has been a consistent voice in ASEAN news for more than a decade. From breaking news to exclusive interviews with key ASEAN leaders, we have brought you factual and engaging reports – the stories that matter, free of charge.

Like many news organisations, we are striving to survive in an age of reduced advertising and biased journalism. Our mission is to rise above today’s challenges and chart tomorrow’s world with clear, dependable reporting.

Support us now with a donation of your choosing. Your contribution will help us shine a light on important ASEAN stories, reach more people and lift the manifold voices of this dynamic, influential region.

$
Personal Info

Donation Total: $10.00

 

 

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