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China will not amend the RMB trading band in the near term, Zhou Xiaochuan, governor of the People’s Bank of China, said on October 19. Zhou made the remarks shortly after the central bank defended its recent changes to the FX rate mechanism in a report. -
Singapore Exchange (SGX) is stepping up its efforts to attract new listings by partnering with Nasdaq, as Asian issuers increasingly look to tap global investors.
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China will allow the markets to have a greater influence on the renminbi’s exchange rate, Xi Jinping, president of China, said in the opening speech of the 19th Communist Party Congress on Wednesday.
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There has been a change in leadership of the loan syndications department at China Minsheng Bank in Hong Kong, according to sources close to the matter.
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China’s economic growth will do little to help promote renminbi internationalisation, according to an October 17 report by Swift. The comment came as the renminbi falls to eighth place in the league table of the world’s most used payment currencies.
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Hong Kong’s market watchdog has withdrawn a lawsuit filed against Standard Chartered and UBS over the 2009 IPO of China Forestry Holdings Co, although this does not mark the end of possible enforcement action, according to sources close to the matter.
