(January 24, 2010, New York) Half of China's cross-border trade transactions could be settled in the Chinese yuan by 2015 - with lower transaction costs and exchange-rate risks - thanks to China's gradual internationalisation of its currency, says HSBC. How to take advantage of this unique circumstance will be thoroughly discussed at Offshore Yuan Trading Experts Workshop 2011, “The Emergence of the Yuan in the Global Foreign-Exchange Markets" (http://www.OffshoreYuanTrading.com), March 28 & 29, Hong Kong, by Frances Cheung, Senior Strategist for Asia ex-Japan, Fixed Income Markets Research, Crédit Agricole, and Dariusz Kowalczyk, Senior Economist/Strategist for Asia ex-Japan, Fixed Income Markets Research, Crédit Agricole.
As reported by the asia one business.com, "The People's Bank of China has been trying to internationalise the yuan but has done it gradually," said HSBC Thailand head of commercial banking Kanoksak Mokkamakkul. "Foreigners can now hold and start trading the yuan." Trade volume settled in the yuan totalled US$3.49 billion in May 2010 alone, just a fraction of the country's trade volume for the whole year. China plans to expand yuan settled trade and push the yuan to become one of the world's major currencies for trade and investment.
Offshore Yuan Trading Experts Workshop 2011 is produced by Golden Networking (http://www.goldennetworking.net), the premier networking community for business executives, entrepreneurs, investors and diplomats, founded by former McKinsey consultant and Columbia Business School MBA Edgar Perez. Upcoming Golden Networking's Forums and Business Receptions include:
· Modern Derivatives Trading Experts Workshop 2011 Hong Kong, "Trading and Hedging with Interest Rate and Currency Derivatives" (http://www.ModernDerivativesTrading.com), March 31 & April 1, Hong Kong
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