TITLE

China's Wall Streets

AUTHOR(S)

Liu, Melinda

PUB. DATE

August 2010

SOURCE

Newsweek (Atlantic Edition);8/30/2010, Vol. 156 Issue 8/9, p16

SOURCE TYPE

Periodical

DOC. TYPE

Article

ABSTRACT

The article focuses on the revival of the rivalry between Hong Kong and Shanghai over which of them should be the Wall Street of China. The competition arises after the Chinese government allow the use of renminbi (RMB) to settle cross-border trade transactions between its 20 regions and international partners. At issue is how Beijing will maintain the image of Hong Kong as a booming economy. Shanghai wants to increase its RMB trade deals by creating RMB backflow methods.

ACCESSION #

58625437

Tags: COMPETITION;  SECURITIES industry;  RENMINBI;  SECURITIES trading

 

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