Yangzijiang makes subdued renminbi trading debut on SGX

The Chinese shipbuilder becomes the first company to have its shares trade in renminbi in Singapore, making use of the exchange’s dual-currency platform.
August 06, 2013

The debut of equities trading in offshore renminbi by Yangzijiang Shipbuilding on the Singapore Exchange SGX on Monday was not quite a Big Bang. Indeed, with only 27,000 shares traded the entire day it went pretty much unnoticed.

Perhaps that was why no shares at all changed hands in the renminbi-denominated stocks yesterday.

Still, the fact that companies now have the ability to trade in renminbi is a key step for Singapore as it aims to become an offshore renminbi centre to rival Hong Kong. It may take time to reach big volumes in the product, but the platform is in place if and when the...

¬ Haymarket Media Limited. All rights reserved.

FinanceAsia has updated its subscription model.

Registered readers now have the opportunity to read 5 articles from our award-winning website for free.

To obtain unlimited access to our award-winning exclusive news and analysis, we offer subscription packages, including single user, team subscription (2-5 users), or office-wide licences.

To help you and your colleagues access our proprietary content, please contact us at [email protected], or +(852) 2122 5222

Article limit is reached.

Hello! You have used up all of your free articles on FinanceAsia.

To obtain unlimited access to our award-winning exclusive news and analysis, we offer subscription packages, including single user, team subscription (2-5 users), or office-wide licences. To help you and your colleagues access our proprietary content, please contact us at [email protected], or +(852) 2122 5222