An HSBC survey has revealed widespread confidence in the future of RMB as a major global trade and investment currency amongst mainland Chinese corporates. The vast majority (77%) of Chinese corporates surveyed expect one-third of all Chinese trade (US$2 trillion) to be conducted in RMB by 2015 (versus 10% in the year to date and 30% plan to use RMB for investment-related …

By David Mahon In Beijing, as evening temperatures hover around zero degrees Celsius, the heating has been turned on two weeks earlier than usual so that Chinese Communist Party officials attending the 18th National Congress will not suffer too much discomfort. Security has been increased. Vehicles from other provinces cannot enter the city without permits and, in an edict only …

Prime Minister John Key will effectively open Tim Groser’s campaign for the top job in international trade at the forthcoming East Asia Summit in Phnom Penh. “Quite a number of leaders have said to me that ‘Yes, we support Tim’,” Key revealed to this columnist when questioned on Groser’s expected pitch to be the next director-general of the World Trade …