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Strategies & Market Trends : Greater China Junior Stocks

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To: Condor who wrote (464)	11/18/2003 6:59:12 AM
From: Julius Wong	of 1992

China to allow HK banks to offer yuan services -- XFN (HBC) By Allen Wan TOKYO (CBS.MW) -- In a move that could alleviate pressure on the Chinese yuan currency and better integrate the mainland and Hong Kong economies, China will allow Hong Kong banks to conduct personal yuan services from January 1, according to published reports. The Xinhua Financial Network quoted Hong Kong leader Tung Chee-hwa as saying that the Chinese central bank will allow banks in the territory to offers yuan deposits, foreign exchange, remittances and credit cards. China and Hong Kong will sign an MOU on Wednesday. Shares of top bank HSBC (HBC) rose 0.4 percent to HK$118. cbs.marketwatch.com

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