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Banks Cut Interest Rates on Renminbi Deposits

HANGZHOU, CHINA - OCTOBER 18, 2024 - Photo taken on Oct 18, 2024 shows Chinese yuan in Hangzhou city, Zhejiang province, China. On the same day, the Bank of China, Industrial and Commercial Bank of China, Agricultural Bank of China, China Construction Bank, Bank of Communications, Postal Savings Bank of China and other six state-owned banks issued an announcement, starting from October 18, to reduce the listed interest rate of RMB deposits.

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Banks Cut Interest Rates on Renminbi Deposits

HANGZHOU, CHINA - OCTOBER 18, 2024 - Photo taken on Oct 18, 2024 shows Chinese yuan in Hangzhou city, Zhejiang province, China. On the same day, the Bank of China, Industrial and Commercial Bank of China, Agricultural Bank of China, China Construction Bank, Bank of Communications, Postal Savings Bank of China and other six state-owned banks issued an announcement, starting from October 18, to reduce the listed interest rate of RMB deposits.

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Banks Cut Interest Rates on Renminbi Deposits

HANGZHOU, CHINA - OCTOBER 18, 2024 - Photo taken on Oct 18, 2024 shows Chinese yuan in Hangzhou city, Zhejiang province, China. On the same day, the Bank of China, Industrial and Commercial Bank of China, Agricultural Bank of China, China Construction Bank, Bank of Communications, Postal Savings Bank of China and other six state-owned banks issued an announcement, starting from October 18, to reduce the listed interest rate of RMB deposits.

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Banks Cut Interest Rates on Renminbi Deposits

HANGZHOU, CHINA - OCTOBER 18, 2024 - Photo taken on Oct 18, 2024 shows Chinese yuan in Hangzhou city, Zhejiang province, China. On the same day, the Bank of China, Industrial and Commercial Bank of China, Agricultural Bank of China, China Construction Bank, Bank of Communications, Postal Savings Bank of China and other six state-owned banks issued an announcement, starting from October 18, to reduce the listed interest rate of RMB deposits.

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Banks Cut Interest Rates on Renminbi Deposits

HANGZHOU, CHINA - OCTOBER 18, 2024 - Photo taken on Oct 18, 2024 shows Chinese yuan in Hangzhou city, Zhejiang province, China. On the same day, the Bank of China, Industrial and Commercial Bank of China, Agricultural Bank of China, China Construction Bank, Bank of Communications, Postal Savings Bank of China and other six state-owned banks issued an announcement, starting from October 18, to reduce the listed interest rate of RMB deposits.

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Banks Cut Interest Rates on Renminbi Deposits

HANGZHOU, CHINA - OCTOBER 18, 2024 - Photo taken on Oct 18, 2024 shows Chinese yuan in Hangzhou city, Zhejiang province, China. On the same day, the Bank of China, Industrial and Commercial Bank of China, Agricultural Bank of China, China Construction Bank, Bank of Communications, Postal Savings Bank of China and other six state-owned banks issued an announcement, starting from October 18, to reduce the listed interest rate of RMB deposits.

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Banks Cut Interest Rates on Renminbi Deposits

HANGZHOU, CHINA - OCTOBER 18, 2024 - Photo taken on Oct 18, 2024 shows Chinese yuan in Hangzhou city, Zhejiang province, China. On the same day, the Bank of China, Industrial and Commercial Bank of China, Agricultural Bank of China, China Construction Bank, Bank of Communications, Postal Savings Bank of China and other six state-owned banks issued an announcement, starting from October 18, to reduce the listed interest rate of RMB deposits.

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Banks Cut Interest Rates on Renminbi Deposits

HANGZHOU, CHINA - OCTOBER 18, 2024 - Photo taken on Oct 18, 2024 shows Chinese yuan in Hangzhou city, Zhejiang province, China. On the same day, the Bank of China, Industrial and Commercial Bank of China, Agricultural Bank of China, China Construction Bank, Bank of Communications, Postal Savings Bank of China and other six state-owned banks issued an announcement, starting from October 18, to reduce the listed interest rate of RMB deposits.

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HUNGARY-BUDAPEST-RENMINBI CONFERENCE

(230505) -- BUDAPEST, May 5, 2023 (Xinhua) -- Xu Chen, chairman of the Bank of China (Europe) S.A., addresses the Budapest Renminbi Initiative Conference in Budapest, Hungary, May 4, 2023. The Budapest Renminbi Initiative Conference, an annual event aimed at promoting cross-border economic activity and broadening the range of investment and financing sources in Hungary, was held for the seventh time here on Thursday. The participants focused on financial interconnectivity and a green transition, highlighting the opportunities of central banks in environmentally sustainable financial transformation and the role of the renminbi in the Central and Eastern European (CEE) region. (Photo by Attila Volgyi/Xinhua)

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HUNGARY-BUDAPEST-RENMINBI CONFERENCE

(230505) -- BUDAPEST, May 5, 2023 (Xinhua) -- Mihaly Patai, deputy governor of the National Bank of Hungary (MNB), addresses the Budapest Renminbi Initiative Conference in Budapest, Hungary, May 4, 2023. The Budapest Renminbi Initiative Conference, an annual event aimed at promoting cross-border economic activity and broadening the range of investment and financing sources in Hungary, was held for the seventh time here on Thursday. The participants focused on financial interconnectivity and a green transition, highlighting the opportunities of central banks in environmentally sustainable financial transformation and the role of the renminbi in the Central and Eastern European (CEE) region. (Photo by Attila Volgyi/Xinhua)

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HUNGARY-BUDAPEST-RENMINBI CONFERENCE

(230505) -- BUDAPEST, May 5, 2023 (Xinhua) -- Li Kexin, chief executive officer of the Bank of China (Central and Eastern Europe) Ltd., addresses the Budapest Renminbi Initiative Conference in Budapest, Hungary, May 4, 2023. The Budapest Renminbi Initiative Conference, an annual event aimed at promoting cross-border economic activity and broadening the range of investment and financing sources in Hungary, was held for the seventh time here on Thursday. The participants focused on financial interconnectivity and a green transition, highlighting the opportunities of central banks in environmentally sustainable financial transformation and the role of the renminbi in the Central and Eastern European (CEE) region. (Photo by Attila Volgyi/Xinhua)

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HUNGARY-BUDAPEST-RENMINBI CONFERENCE

(230505) -- BUDAPEST, May 5, 2023 (Xinhua) -- Mihaly Patai, deputy governor of the National Bank of Hungary (MNB), addresses the Budapest Renminbi Initiative Conference in Budapest, Hungary, May 4, 2023. The Budapest Renminbi Initiative Conference, an annual event aimed at promoting cross-border economic activity and broadening the range of investment and financing sources in Hungary, was held for the seventh time here on Thursday. The participants focused on financial interconnectivity and a green transition, highlighting the opportunities of central banks in environmentally sustainable financial transformation and the role of the renminbi in the Central and Eastern European (CEE) region. (Photo by Attila Volgyi/Xinhua)

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HUNGARY-BUDAPEST-RENMINBI CONFERENCE

(230505) -- BUDAPEST, May 5, 2023 (Xinhua) -- Yang Chao, charge d'affaires ad interim of the Chinese Embassy in Hungary, addresses the Budapest Renminbi Initiative Conference in Budapest, Hungary, May 4, 2023. The Budapest Renminbi Initiative Conference, an annual event aimed at promoting cross-border economic activity and broadening the range of investment and financing sources in Hungary, was held for the seventh time here on Thursday. The participants focused on financial interconnectivity and a green transition, highlighting the opportunities of central banks in environmentally sustainable financial transformation and the role of the renminbi in the Central and Eastern European (CEE) region. (Photo by Attila Volgyi/Xinhua)

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RMB clearing bank launched in Pakistan to facilitate cross-border transactions with China

STORY: RMB clearing bank launched in Pakistan to facilitate cross-border transactions with China DATELINE: Oct. 29, 2023 LENGTH: 00:01:15 LOCATION: Islamabad CATEGORY: ECONOMY SHOTLIST: 1. various of Islamabad 2. various of the opening ceremony of the renminbi (RMB) clearing bank 3. SOUNDBITE (English): JAMEEL AHMAD, Governor of the State Bank of Pakistan 4. various of the opening ceremony of the renminbi (RMB) clearing bank 5. various of renminbi (RMB) related footage 6. various of Pakistan rupee related footage STORYLINE: The Industrial and Commercial Bank of China (ICBC) in Pakistan has opened a renminbi (RMB) clearing bank, facilitating both Pakistani and Chinese businesses and financial institutions to settle cross-border transactions and meet the financing needs of the two countries. The grand opening ceremony, held in the Pakistani capital Islamabad on Friday, was attended by officials, experts and businessmen from Pakistan and China. SOUNDBITE (English): JAMEEL AHMAD, Governor of the State Bank o

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PAKISTAN-ISLAMABAD-RMB CLEARING BANK-OPENING CEREMONY

(231028) -- ISLAMABAD, Oct. 28, 2023 (Xinhua) -- Pakistan's caretaker Minister for Finance, Revenue and Economic Affairs Shamshad Akhtar speaks during the opening ceremony of RMB clearing bank in Islamabad, Pakistan on Oct. 27, 2023. The Industrial and Commercial Bank of China (ICBC) in Pakistan has opened a renminbi (RMB) clearing bank, facilitating both Pakistani and Chinese businesses and financial institutions to settle cross-border transactions and meet the financing needs of the two countries. (Xinhua/Ahmad Kamal)

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PAKISTAN-ISLAMABAD-RMB CLEARING BANK-OPENING CEREMONY

(231028) -- ISLAMABAD, Oct. 28, 2023 (Xinhua) -- Chinese Ambassador to Pakistan Jiang Zaidong speaks during the opening ceremony of RMB clearing bank in Islamabad, Pakistan on Oct. 27, 2023. The Industrial and Commercial Bank of China (ICBC) in Pakistan has opened a renminbi (RMB) clearing bank, facilitating both Pakistani and Chinese businesses and financial institutions to settle cross-border transactions and meet the financing needs of the two countries. (Xinhua/Ahmad Kamal)

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RMB clearing bank opens in Laos

STORY: RMB clearing bank opens in Laos DATELINE: Oct. 26, 2023 LENGTH: 00:01:38 LOCATION: Vientiane CATEGORY: ECONOMY SHOTLIST: 1. various of the launching ceremony STORYLINE: A renminbi (RMB) clearing bank opened in Laos, which will create a fast, safe and economical cross-border settlement channel between Laos and China. The opening ceremony of the bank, held on Monday, was attended by Lao Prime Minister Sonexay Siphandone, Governor of Laos' central bank Bounleua Sinxayvoravong, Charge d'Affaires of the Chinese embassy in Laos Wang Chang, and Vice President of the Industrial and Commercial Bank of China (ICBC) Zhang Weiwu. Wang said the bank is aimed at helping enterprises and financial institutions carry out Chinese currency transactions between China and Laos, reducing the cost of the exchange rate, facilitating trade investment between the two countries, and maintaining the financial stability in Laos and strengthening the economic-commercial relations between the two neighbors. Sinxayvora

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LAOS-VIENTIANE-RMB CLEARING BANK-OPENING

(231025) -- VIENTIANE, Oct. 25, 2023 (Xinhua) -- This photo taken on Oct. 23, 2023 shows the opening ceremony of the RMB clearing bank in Vientiane, Laos. A renminbi (RMB) clearing bank opened in Laos, which will create a fast, safe and economical cross-border settlement channel between Laos and China. (Photo by Kaikeo Saiyasane/Xinhua)

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Humble Administrator Villa in Suzhou

SUZHOU, CHINA - OCTOBER 17, 2023 - An aerial photo shows the Humble Administrator Villa, one of China's nine top new Chinese villas, in Suzhou, Jiangsu Province, China, October 17, 2023. Humble Administrator Villa, located in the center of the first of the world's four garden cultural heritage Suzhou Humble Administrator's Garden,Humble Administrator Villa project only plans to have 28 single-family villas, the area from 660-4000 square meters, private enjoy about 1 mu of private gardens. The materials used in the villa are exquisite, and the century-old high-grade wood and stone are selected. Prices range from 30 million renminbi to 500 million renminbi.

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Humble Administrator Villa in Suzhou

SUZHOU, CHINA - OCTOBER 17, 2023 - An aerial photo shows the Humble Administrator Villa, one of China's nine top new Chinese villas, in Suzhou, Jiangsu Province, China, October 17, 2023. Humble Administrator Villa, located in the center of the first of the world's four garden cultural heritage Suzhou Humble Administrator's Garden,Humble Administrator Villa project only plans to have 28 single-family villas, the area from 660-4000 square meters, private enjoy about 1 mu of private gardens. The materials used in the villa are exquisite, and the century-old high-grade wood and stone are selected. Prices range from 30 million renminbi to 500 million renminbi.

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Humble Administrator Villa in Suzhou

SUZHOU, CHINA - OCTOBER 17, 2023 - An aerial photo shows the Humble Administrator Villa, one of China's nine top new Chinese villas, in Suzhou, Jiangsu Province, China, October 17, 2023. Humble Administrator Villa, located in the center of the first of the world's four garden cultural heritage Suzhou Humble Administrator's Garden,Humble Administrator Villa project only plans to have 28 single-family villas, the area from 660-4000 square meters, private enjoy about 1 mu of private gardens. The materials used in the villa are exquisite, and the century-old high-grade wood and stone are selected. Prices range from 30 million renminbi to 500 million renminbi.

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Humble Administrator Villa in Suzhou

SUZHOU, CHINA - OCTOBER 17, 2023 - An aerial photo shows the Humble Administrator Villa, one of China's nine top new Chinese villas, in Suzhou, Jiangsu Province, China, October 17, 2023. Humble Administrator Villa, located in the center of the first of the world's four garden cultural heritage Suzhou Humble Administrator's Garden,Humble Administrator Villa project only plans to have 28 single-family villas, the area from 660-4000 square meters, private enjoy about 1 mu of private gardens. The materials used in the villa are exquisite, and the century-old high-grade wood and stone are selected. Prices range from 30 million renminbi to 500 million renminbi.

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Humble Administrator Villa in Suzhou

SUZHOU, CHINA - OCTOBER 17, 2023 - An aerial photo shows the Humble Administrator Villa, one of China's nine top new Chinese villas, in Suzhou, Jiangsu Province, China, October 17, 2023. Humble Administrator Villa, located in the center of the first of the world's four garden cultural heritage Suzhou Humble Administrator's Garden,Humble Administrator Villa project only plans to have 28 single-family villas, the area from 660-4000 square meters, private enjoy about 1 mu of private gardens. The materials used in the villa are exquisite, and the century-old high-grade wood and stone are selected. Prices range from 30 million renminbi to 500 million renminbi.

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Humble Administrator Villa in Suzhou

SUZHOU, CHINA - OCTOBER 17, 2023 - An aerial photo shows the Humble Administrator Villa, one of China's nine top new Chinese villas, in Suzhou, Jiangsu Province, China, October 17, 2023. Humble Administrator Villa, located in the center of the first of the world's four garden cultural heritage Suzhou Humble Administrator's Garden,Humble Administrator Villa project only plans to have 28 single-family villas, the area from 660-4000 square meters, private enjoy about 1 mu of private gardens. The materials used in the villa are exquisite, and the century-old high-grade wood and stone are selected. Prices range from 30 million renminbi to 500 million renminbi.

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Humble Administrator Villa in Suzhou

SUZHOU, CHINA - OCTOBER 17, 2023 - An aerial photo shows the Humble Administrator Villa, one of China's nine top new Chinese villas, in Suzhou, Jiangsu Province, China, October 17, 2023. Humble Administrator Villa, located in the center of the first of the world's four garden cultural heritage Suzhou Humble Administrator's Garden,Humble Administrator Villa project only plans to have 28 single-family villas, the area from 660-4000 square meters, private enjoy about 1 mu of private gardens. The materials used in the villa are exquisite, and the century-old high-grade wood and stone are selected. Prices range from 30 million renminbi to 500 million renminbi.

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Humble Administrator Villa in Suzhou

SUZHOU, CHINA - OCTOBER 17, 2023 - An aerial photo shows the Humble Administrator Villa, one of China's nine top new Chinese villas, in Suzhou, Jiangsu Province, China, October 17, 2023. Humble Administrator Villa, located in the center of the first of the world's four garden cultural heritage Suzhou Humble Administrator's Garden,Humble Administrator Villa project only plans to have 28 single-family villas, the area from 660-4000 square meters, private enjoy about 1 mu of private gardens. The materials used in the villa are exquisite, and the century-old high-grade wood and stone are selected. Prices range from 30 million renminbi to 500 million renminbi.

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Humble Administrator Villa in Suzhou

SUZHOU, CHINA - OCTOBER 17, 2023 - An aerial photo shows the Humble Administrator Villa, one of China's nine top new Chinese villas, in Suzhou, Jiangsu Province, China, October 17, 2023. Humble Administrator Villa, located in the center of the first of the world's four garden cultural heritage Suzhou Humble Administrator's Garden,Humble Administrator Villa project only plans to have 28 single-family villas, the area from 660-4000 square meters, private enjoy about 1 mu of private gardens. The materials used in the villa are exquisite, and the century-old high-grade wood and stone are selected. Prices range from 30 million renminbi to 500 million renminbi.

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Humble Administrator Villa in Suzhou

SUZHOU, CHINA - OCTOBER 17, 2023 - An aerial photo shows the Humble Administrator Villa, one of China's nine top new Chinese villas, in Suzhou, Jiangsu Province, China, October 17, 2023. Humble Administrator Villa, located in the center of the first of the world's four garden cultural heritage Suzhou Humble Administrator's Garden,Humble Administrator Villa project only plans to have 28 single-family villas, the area from 660-4000 square meters, private enjoy about 1 mu of private gardens. The materials used in the villa are exquisite, and the century-old high-grade wood and stone are selected. Prices range from 30 million renminbi to 500 million renminbi.

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Humble Administrator Villa in Suzhou

SUZHOU, CHINA - OCTOBER 17, 2023 - An aerial photo shows the Humble Administrator Villa, one of China's nine top new Chinese villas, in Suzhou, Jiangsu Province, China, October 17, 2023. Humble Administrator Villa, located in the center of the first of the world's four garden cultural heritage Suzhou Humble Administrator's Garden,Humble Administrator Villa project only plans to have 28 single-family villas, the area from 660-4000 square meters, private enjoy about 1 mu of private gardens. The materials used in the villa are exquisite, and the century-old high-grade wood and stone are selected. Prices range from 30 million renminbi to 500 million renminbi.

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Humble Administrator Villa in Suzhou

SUZHOU, CHINA - OCTOBER 17, 2023 - An aerial photo shows the Humble Administrator Villa, one of China's nine top new Chinese villas, in Suzhou, Jiangsu Province, China, October 17, 2023. Humble Administrator Villa, located in the center of the first of the world's four garden cultural heritage Suzhou Humble Administrator's Garden,Humble Administrator Villa project only plans to have 28 single-family villas, the area from 660-4000 square meters, private enjoy about 1 mu of private gardens. The materials used in the villa are exquisite, and the century-old high-grade wood and stone are selected. Prices range from 30 million renminbi to 500 million renminbi.

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Humble Administrator Villa in Suzhou

SUZHOU, CHINA - OCTOBER 17, 2023 - An aerial photo shows the Humble Administrator Villa, one of China's nine top new Chinese villas, in Suzhou, Jiangsu Province, China, October 17, 2023. Humble Administrator Villa, located in the center of the first of the world's four garden cultural heritage Suzhou Humble Administrator's Garden,Humble Administrator Villa project only plans to have 28 single-family villas, the area from 660-4000 square meters, private enjoy about 1 mu of private gardens. The materials used in the villa are exquisite, and the century-old high-grade wood and stone are selected. Prices range from 30 million renminbi to 500 million renminbi.

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Humble Administrator Villa in Suzhou

SUZHOU, CHINA - OCTOBER 17, 2023 - An aerial photo shows the Humble Administrator Villa, one of China's nine top new Chinese villas, in Suzhou, Jiangsu Province, China, October 17, 2023. Humble Administrator Villa, located in the center of the first of the world's four garden cultural heritage Suzhou Humble Administrator's Garden,Humble Administrator Villa project only plans to have 28 single-family villas, the area from 660-4000 square meters, private enjoy about 1 mu of private gardens. The materials used in the villa are exquisite, and the century-old high-grade wood and stone are selected. Prices range from 30 million renminbi to 500 million renminbi.

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Humble Administrator Villa in Suzhou

SUZHOU, CHINA - OCTOBER 17, 2023 - An aerial photo shows the Humble Administrator Villa, one of China's nine top new Chinese villas, in Suzhou, Jiangsu Province, China, October 17, 2023. Humble Administrator Villa, located in the center of the first of the world's four garden cultural heritage Suzhou Humble Administrator's Garden,Humble Administrator Villa project only plans to have 28 single-family villas, the area from 660-4000 square meters, private enjoy about 1 mu of private gardens. The materials used in the villa are exquisite, and the century-old high-grade wood and stone are selected. Prices range from 30 million renminbi to 500 million renminbi.

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Humble Administrator Villa in Suzhou

SUZHOU, CHINA - OCTOBER 17, 2023 - An aerial photo shows the Humble Administrator Villa, one of China's nine top new Chinese villas, in Suzhou, Jiangsu Province, China, October 17, 2023. Humble Administrator Villa, located in the center of the first of the world's four garden cultural heritage Suzhou Humble Administrator's Garden,Humble Administrator Villa project only plans to have 28 single-family villas, the area from 660-4000 square meters, private enjoy about 1 mu of private gardens. The materials used in the villa are exquisite, and the century-old high-grade wood and stone are selected. Prices range from 30 million renminbi to 500 million renminbi.

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Humble Administrator Villa in Suzhou

SUZHOU, CHINA - OCTOBER 17, 2023 - An aerial photo shows the Humble Administrator Villa, one of China's nine top new Chinese villas, in Suzhou, Jiangsu Province, China, October 17, 2023. Humble Administrator Villa, located in the center of the first of the world's four garden cultural heritage Suzhou Humble Administrator's Garden,Humble Administrator Villa project only plans to have 28 single-family villas, the area from 660-4000 square meters, private enjoy about 1 mu of private gardens. The materials used in the villa are exquisite, and the century-old high-grade wood and stone are selected. Prices range from 30 million renminbi to 500 million renminbi.

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Humble Administrator Villa in Suzhou

SUZHOU, CHINA - OCTOBER 17, 2023 - An aerial photo shows the Humble Administrator Villa, one of China's nine top new Chinese villas, in Suzhou, Jiangsu Province, China, October 17, 2023. Humble Administrator Villa, located in the center of the first of the world's four garden cultural heritage Suzhou Humble Administrator's Garden,Humble Administrator Villa project only plans to have 28 single-family villas, the area from 660-4000 square meters, private enjoy about 1 mu of private gardens. The materials used in the villa are exquisite, and the century-old high-grade wood and stone are selected. Prices range from 30 million renminbi to 500 million renminbi.

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Humble Administrator Villa in Suzhou

SUZHOU, CHINA - OCTOBER 17, 2023 - An aerial photo shows the Humble Administrator Villa, one of China's nine top new Chinese villas, in Suzhou, Jiangsu Province, China, October 17, 2023. Humble Administrator Villa, located in the center of the first of the world's four garden cultural heritage Suzhou Humble Administrator's Garden,Humble Administrator Villa project only plans to have 28 single-family villas, the area from 660-4000 square meters, private enjoy about 1 mu of private gardens. The materials used in the villa are exquisite, and the century-old high-grade wood and stone are selected. Prices range from 30 million renminbi to 500 million renminbi.

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Humble Administrator Villa in Suzhou

SUZHOU, CHINA - OCTOBER 17, 2023 - An aerial photo shows the Humble Administrator Villa, one of China's nine top new Chinese villas, in Suzhou, Jiangsu Province, China, October 17, 2023. Humble Administrator Villa, located in the center of the first of the world's four garden cultural heritage Suzhou Humble Administrator's Garden,Humble Administrator Villa project only plans to have 28 single-family villas, the area from 660-4000 square meters, private enjoy about 1 mu of private gardens. The materials used in the villa are exquisite, and the century-old high-grade wood and stone are selected. Prices range from 30 million renminbi to 500 million renminbi.

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Chinese Yuan USD Exchange Rate

FUYANG, CHINA - SEPTEMBER 8, 2023 - Photo taken on Sept 8, 2023 shows U.S. dollars in Fuyang city, East China's Anhui province. The renminbi fell below its previous lows against the US dollar in both onshore and offshore markets as the greenback continued to strengthen. On September 8, the spot exchange rate of the renminbi hit 7.34 against the dollar at the opening, breaking through the low of early November last year and hitting a new low since the end of 2007.

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Chinese Yuan USD Exchange Rate

FUYANG, CHINA - SEPTEMBER 8, 2023 - Photo taken on Sept 8, 2023 shows U.S. dollars in Fuyang city, East China's Anhui province. The renminbi fell below its previous lows against the US dollar in both onshore and offshore markets as the greenback continued to strengthen. On September 8, the spot exchange rate of the renminbi hit 7.34 against the dollar at the opening, breaking through the low of early November last year and hitting a new low since the end of 2007.

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Hong Kong eyes more ASEAN, Middle East presence in offshore renminbi market

STORY: Hong Kong eyes more ASEAN, Middle East presence in offshore renminbi market DATELINE: Sept. 5, 2023 LENGTH: 00:01:09 LOCATION: HONG KONG, China CATEGORY: ECONOMY SHOTLIST: 1. various of the Treasury Markets Summit 2023 STORYLINE: Head of the Hong Kong Monetary Authority (HKMA) said Monday that the regulator is working with banks to promote more participation from the Association of Southeast Asian Nations (ASEAN) and the Middle East in Hong Kong's offshore renminbi (RMB) market. Chief Executive of the HKMA Eddie Yue said an increasing number of economies, including those in the Middle East and the ASEAN, want to use the RMB to settle their trade with China. In a speech at the Treasury Markets Summit 2023 jointly organized by the HKMA and the Hong Kong Treasury Markets Association (TMA), Yue said Hong Kong's edge as the leading offshore RMB business hub is not just a matter of its mutual market access with the mainland. In fact, Hong Kong has the largest offshore RMB liquidity pool, occupies the t

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Incorporation of yuan to benefit both parties: Argentina's business leader

STORY: Incorporation of yuan to benefit both parties: Argentina's business leader DATELINE: July 14, 2023 LENGTH: 00:01:36 LOCATION: Buenos Aires CATEGORY: ECONOMY SHOTLIST: 1. various of street views and ICBC in Argentina 2. SOUNDBITE 1 (Spanish): TOMAS DE PABLOS, President of Liex S.A. 3. SOUNDBITE 1 (Spanish): TOMAS DE PABLOS, President of Liex S.A. STORYLINE: Argentina has initiated the opening of bank accounts in Chinese currency renminbi, or the yuan. Liex S.A., a subsidiary of the Chinese firm Zijin Mining, became the first client of ICBC Bank Argentina branch to open an account in yuan. It came after the Central Bank of Argentina (BCRA) incorporated the Chinese yuan as an eligible currency for deposits in savings and current accounts at the end of June. SOUNDBITE 1 (Spanish): TOMAS DE PABLOS, President of Liex S.A. "We are very pleased to be one of the first customers to be able to operate through currency exchange using yuan; after a visit by representatives of the Argentine government to China

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Ties with China strengthened by incorporation of yuan: Argentine central bank chief

STORY: Ties with China strengthened by incorporation of yuan: Argentine central bank chief DATELINE: July 3, 2023 LENGTH: 00:02:32 LOCATION: Buenos Aires CATEGORY: ECONOMY SHOTLIST: 1. various of street view of Buenos Aires 2. SOUNDBITE 2 (Spanish): MIGUEL ANGEL PESCE, Argentine Central Bank President 3. various of street view of Buenos Aires 4. SOUNDBITE 2 (Spanish): MIGUEL ANGEL PESCE, Argentine Central Bank President STORYLINE: The Central Bank of Argentina has announced it will allow financial institutions to use the Chinese yuan, or renminbi (RMB), as a currency for collecting deposits by individuals and legal entities. According to Argentine Central Bank President Miguel Angel Pesce, this move will further strengthen the relationship between Argentina and China. SOUNDBITE 1 (Spanish): MIGUEL ANGEL PESCE, Argentine Central Bank President "From the moment China posed the internationalization of renminbi, Argentina has supported this process, like most countries in the world, which had a fundamenta

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ARGENTINA-BUENOS AIRES-CHINESE YUAN-DEPOSITS

(230701) -- BUENOS AIRES, July 1, 2023 (Xinhua) -- This photo taken on June 30, 2023 shows the building of the Central Bank of Argentina in Buenos Aires, Argentina. The Central Bank of Argentina has announced it will allow financial institutions to use the Chinese yuan, or renminbi, as a currency for collecting deposits by individuals and legal entities. (Xinhua/Martin Zabala)

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ARGENTINA-BUENOS AIRES-CHINESE YUAN-DEPOSITS

(230701) -- BUENOS AIRES, July 1, 2023 (Xinhua) -- This photo taken on June 30, 2023 shows the building of Argentina's Ministry of Economy in Buenos Aires, Argentina. The Central Bank of Argentina has announced it will allow financial institutions to use the Chinese yuan, or renminbi, as a currency for collecting deposits by individuals and legal entities. (Xinhua/Martin Zabala)

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Hong Kong exchange launches HKD-RMB dual counter model

STORY: Hong Kong exchange launches HKD-RMB dual counter model DATELINE: June 20, 2023 LENGTH: 0:01:23 LOCATION: HONG KONG, China CATEGORY: ECONOMY SHOTLIST: 1. various of the launch ceremony 2. SOUNDBITE 1 (English): PAUL CHAN, Financial secretary of the HKSAR government 3. SOUNDBITE 2 (English): NICOLAS AGUZIN, HKEX Chief Executive Officer STORYLINE: Hong Kong Exchanges and Clearing Limited (HKEX) officially launched the Hong Kong Dollar (HKD)-Renminbi (RMB) Dual Counter Model and the Dual Counter Market Making Program in its securities market on Monday. This new model and program will further support the trading and settlement of RMB-denominated securities in Hong Kong, according to the HKEX. Under the dual counter model, investors will be able to interchange securities listed in both HKD and RMB counters. Securities under the two counters are of the same class and holdings of securities in the two counters can be transferred without change of beneficial ownership. SOUNDBITE 1 (English): PAUL CHAN, F

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HUNGARY-BUDAPEST-RENMINBI CONFERENCE

(230505) -- BUDAPEST, May 5, 2023 (Xinhua) -- Yang Chao, charge d'affaires ad interim of the Chinese Embassy in Hungary, addresses the Budapest Renminbi Initiative Conference in Budapest, Hungary, May 4, 2023. The Budapest Renminbi Initiative Conference, an annual event aimed at promoting cross-border economic activity and broadening the range of investment and financing sources in Hungary, was held for the seventh time here on Thursday. The participants focused on financial interconnectivity and a green transition, highlighting the opportunities of central banks in environmentally sustainable financial transformation and the role of the renminbi in the Central and Eastern European (CEE) region. (Photo by Attila Volgyi/Xinhua)

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HUNGARY-BUDAPEST-RENMINBI CONFERENCE

(230505) -- BUDAPEST, May 5, 2023 (Xinhua) -- Mihaly Patai, deputy governor of the National Bank of Hungary (MNB), addresses the Budapest Renminbi Initiative Conference in Budapest, Hungary, May 4, 2023. The Budapest Renminbi Initiative Conference, an annual event aimed at promoting cross-border economic activity and broadening the range of investment and financing sources in Hungary, was held for the seventh time here on Thursday. The participants focused on financial interconnectivity and a green transition, highlighting the opportunities of central banks in environmentally sustainable financial transformation and the role of the renminbi in the Central and Eastern European (CEE) region. (Photo by Attila Volgyi/Xinhua)

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HUNGARY-BUDAPEST-RENMINBI CONFERENCE

(230505) -- BUDAPEST, May 5, 2023 (Xinhua) -- Mihaly Patai, deputy governor of the National Bank of Hungary (MNB), addresses the Budapest Renminbi Initiative Conference in Budapest, Hungary, May 4, 2023. The Budapest Renminbi Initiative Conference, an annual event aimed at promoting cross-border economic activity and broadening the range of investment and financing sources in Hungary, was held for the seventh time here on Thursday. The participants focused on financial interconnectivity and a green transition, highlighting the opportunities of central banks in environmentally sustainable financial transformation and the role of the renminbi in the Central and Eastern European (CEE) region. (Photo by Attila Volgyi/Xinhua)

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HUNGARY-BUDAPEST-RENMINBI CONFERENCE

(230505) -- BUDAPEST, May 5, 2023 (Xinhua) -- Li Kexin, chief executive officer of the Bank of China (Central and Eastern Europe) Ltd., addresses the Budapest Renminbi Initiative Conference in Budapest, Hungary, May 4, 2023. The Budapest Renminbi Initiative Conference, an annual event aimed at promoting cross-border economic activity and broadening the range of investment and financing sources in Hungary, was held for the seventh time here on Thursday. The participants focused on financial interconnectivity and a green transition, highlighting the opportunities of central banks in environmentally sustainable financial transformation and the role of the renminbi in the Central and Eastern European (CEE) region. (Photo by Attila Volgyi/Xinhua)