Friday, July 25, 2014   

(2014-15 Budget) Yuan deposits exceed 1 trillion
(02-26 13:36)

Yuan deposits and outstanding renminbi certificates of deposits surged past 1 trillion yuan at the end of 2013, accounting for 70 percent of the offshore pool, Financial Secretary John Tsang Chun-wah said today.
Trade settled in yuan through local banks exceeded 3.8 trillion yuan last year, up 45 percent from 2012.
"We shall continue to support our country's accelerated drive to realize capital account convertibility and internationalization of the RMB by acting as a bridge between our nation and the rest of the world, and serving as a platform for mainland funds and enterprises to reach out to the international market," Tsang said.

   
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