Sunday, October 26, 2014   

Offshore yuan trade ‘miniscule’ says Chan
(03-27 12:59)

The offshore yuan market is still miniscule compared with the onshore market, Acting Financial Secretary, Ceajar Chan Ka-keung, said today.
Speaking at a yuan forum organized by a bank, he said the yuan’s share of global payments was only 1.39 per cent of the world's total by value in January 2014.
“Only 18 per cent of China's external trade was settled in yuan in 2013. These numbers still fall short of China's status as the world's largest trading economy and its second largest economy,’’ he said, as he spoke of the potential for growth in the use of the yuan.—The Standard

   
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