www射-国产免费一级-欧美福利-亚洲成人福利-成人一区在线观看-亚州成人

US EUROPE AFRICA ASIA 中文
Business / Finance

RMB trade in Gulf Arab countries show huge potential

(Xinhua) Updated: 2013-01-22 17:01

DUBAI - The chief executive of the Hong Kong Monetary Authority Norman Chan said here late Monday growing trade relations between the Gulf Arab oil states and China triggered a surge in transactions in renminbi, adding the process was still in its early stages.

Chan, who stopped in Dubai on a road-show to promote Hong Kong as an offshore hub for renminbi trade, said that 30 percent of China's trade including re-exports and offshore trade was intermediated through Hong Kong. While renminbi trade in the Chinese mainland is restricted for foreign firms, "in Hong Kong there is no restriction for renminbi funds transfers for foreigners and any firm can open a renminbi account," said Chan.

He said that most of the trade from Gulf Arab countries in the Chinese currency was done by firms in the United Arab Emirates ( UAE) and Dubai in particular "because Dubai plays an important role as a gateway to all Gulf states," said Chan in an exclusive interview with Xinhua. Bilateral trade between the UAE and China grew 15-fold since 2000 to reach $37 billion.

The volume in renminbi trade conducted by local Arab firms and Chinese companies residing in the countries of the Gulf Co- operation Council GCC (Saudi Arabia, Kuwait, Bahrain, Qatar, UAE and Oman) was still low but it was growing fast, said Chan who added that trade between the UAE and China was expected to hit $100 billion by 2015.

As of now exports and imports done in renminbi by the UAE account for only 4 percent of the Gulf state's total foreign trade "but chances are high that this figure will rise to double-digit rates in the coming years," said Chan.

According to the Dubai Chamber of Commerce, some 2,500 Chinese firms reside in Dubai. China's largest bank ICBC and the Bank of China have branches in the Gulf Arab sheikhdom. Earlier in February 2012, the China central bank signed a currency swap deal with the UAE worth 35 billion yuan ($5.62 billion). " This agreement is proof that both sides are interested in intensifying financial and commercial relations," said Chan.

Companies buying goods from China or those which export goods to China can trade, borrow, issue bonds in renminbi and they can hedge easily through forwards and futures in the Chinese currency, explained Chan.

 

Related Readings

BOC opens 1st subsidiary in Middle East

Broader fields for renminbi

Wen's Middle East bonanza

China to steadily make yuan convertible on capital account

Previous Page 1 2 Next Page

Hot Topics

Editor's Picks
...
主站蜘蛛池模板: 手机看片久久高清国产日韩 | 毛片a级三毛片免费播放 | 久久免费国产视频 | 亚洲精品久久久久久久久久久网站 | 老太婆性杂交毛片 | 九九九九在线精品免费视频 | 在线视免费频观看韩国aaa | 欧美精品另类 | 久久99精品久久久久久青青91 | 欧美性群另类交 | 国产日本欧美高清免费区 | 国产精品免费看久久久香蕉 | 亚洲视频国产精品 | 亚洲国产精品久久 | 久草在线免费新视频 | 国产精品三级a三级三级午夜 | 亚洲厕拍 | 成人毛片在线观看 | 涩里番资源网站在线观看 | 一级生性活免费视频 | 亚洲国产精品成人精品软件 | 亚洲国产成人久久三区 | 欧美在线观看一区二区三区 | 午夜精品视频在线观看美女 | 全部aⅴ极品视觉盛宴精品 全部免费a级毛片 | 欧美性色一级在线观看 | 日产日韩亚洲欧美综合搜索 | 在线亚洲精品国产波多野结衣 | 91久久香蕉青青草原娱乐 | 中文字幕va一区二区三区 | 成人亚洲精品 | 免费一级毛片在线观看 | 国产成人久久精品一区二区三区 | 精品无码三级在线观看视频 | 午夜三级理论在线观看视频 | 国产精品成人在线播放 | 成人午夜网 | 亚洲欧美色视频 | 日韩欧美精品在线观看 | 99久久在线| 秘书高跟黑色丝袜国产91在线 |