DBS launches renminbi index in HK
Updated: 2013-01-28 16:32
By Hu Yuanyuan (chinadaily.com.cn)
|
|||||||||||
DBS launched a renminbi index in Hong Kong, offering a strategic tool for policymakers, businesses and investors to track the actual usage and acceptance of renminbi among Hong Kong companies, as well as their sentiment towards future renminbi adoption, the company said in an e-mailed statement on Friday.
By focusing on the level of renminbi usage and acceptance among Hong Kong-registered companies, the index aims to serve as the first benchmark to measure the pace of renminbi internationalization in Hong Kong.
For the fourth quarter of 2012, the index value was 54.9. All future readings of the index will be analyzed in relation to this initial reading.
Subsequent index values will be released on a quarterly basis and over time will reveal a lot more about the pace of development of Hong Kong as an offshore renminbi center. Corresponding policy recommendations can be drawn from analyzing the future time series. In future, the index may be extended to cover other countries, which are also offshore renminbi centers.
Related Stories
DBS to expand banking services in China 2012-04-13 15:24
DBS readies 'dim sum' bonds 2012-02-15 10:54
DBS' net profit from mainland doubles in 2011 2012-02-15 10:26
DBS launches local subsidiary in Taiwan 2012-02-06 17:36
Today's Top News
President Xi confident in recovery from quake
H7N9 update: 104 cases, 21 deaths
Telecom workers restore links
Coal mine blast kills 18 in Jilin
Intl scholarship puts China on the map
More bird flu patients discharged
Gold loses sheen, but still a safe bet
US 'turns blind eye to human rights'
Hot Topics
Lunar probe , China growth forecasts, Emission rules get tougher, China seen through 'colored lens', International board,
Editor's Picks
All-out efforts to save lives |
Liaoning: China's oceangoing giant |
Poultry industry under pressure |
'Spring' in the air for NGOs? |
Boy set to drive Chinese golf |
Latest technology gets people talking |