China's central bank said Wednesday it has designated Bank of China's New York branch to provide yuan clearing services in the United States, the first time China has set up an RMB clearing bank in the country.

Although other factors such as the United Kingdom's exit from the European Union could still increase the depreciation pressure on the Chinese currency, "it would not last for too long," said Qu Hongbin, chief economist with HSBC Holdings.,推荐好的博彩公司The previous annual review led to XX downgrades last year.

"A-share earnings growth in the first half has slowed but remained solid," said Gao Ting, head of China strategy at UBS Securities. "Given a high base in the same period last year, we see the level of growth as decent, which will likely shore up the market.","Existing market expectations for an interest rate hike by the US Fed in December-although it is not imminent-would support the dollar and point to continued pressure on the Chinese currency and its foreign exchange reserves.",The present system was officially established on Jan. 16, 2013 after years of trials in cities including Shanghai, Wuhan and Tianjin.

It was the weakest level since September 2010 and the eighth consecutive day for offshore renminbi depreciation as increased market expectations for an interest rate hike in the United States led to a stronger dollar.,The rush into mainland banks has coincided with a pickup in flows via a cross-border stock link, but analysts and traders said banks are outperforming as mainland investors shift away from volatile growth stocks to dividend plays.,"The launch of Shenzhen-Hong Kong Stock Connect can be good for mainland and Hong Kong markets. It in turn will help the opening-up of China's capital market," said Hong Hao, chief strategist at BOCOM International Holdings Co.

This year, China offered a quota of 250 billion yuan to US institutions, which will lead to more demand for yuan products, according to Li Liuyang, a senior analyst at Bank of Tokyo-Mitsubishi UFJ China Ltd.,全球信誉最好的博彩公司China's 4 billion sovereign wealth fund may increase investments in hedge funds in Asia, betting they can beat rivals trading in developed markets.,Unlike the previous government-led equity-for-debt program launched at the end of the 1990s, the new guidelines require that the program will be launched under market principles.

A number of Chinese mainland securities firms are preparing for a public listing in Hong Kong this year as the mainland markets remain sluggish since last summer's market rout. In August, Everbright Securities raised HK.6 billion (.1 billion) in a Hong Kong offering. BOCOM International Holdings, the overseas advisory arm of the Bank of Communications, also announced plans to go public earlier this year.,A number of Chinese mainland securities firms are preparing for a public listing in Hong Kong this year as the mainland markets remain sluggish since last summer's market rout. In August, Everbright Securities raised HK.6 billion (.1 billion) in a Hong Kong offering. BOCOM International Holdings, the overseas advisory arm of the Bank of Communications, also announced plans to go public earlier this year.,These developments will add to the momentum of the RMB's rise, officials and analysts said.

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