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Frances Cheung, Head of Rates Strategy, Asia ex-Japan at Societe Generale, explains the consequences of the devaluation of the Yuan

19/08/2015

Frances Cheung, Head of Rates Strategy, Asia ex-Japan at Societe Generale, explains the consequences of the devaluation of the Yuan on consumers behaviour.

''Hong Kong banks held 993 billion yuan of deposits as of June, the biggest offshore stockpile. As about 80 per cent of the city's yuan savings were time deposits, which penalise customers for withdrawing them earlier than scheduled, outflows might be limited.''
Frances Cheung, Head of Asian ex-Japan rates strategy

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Head of Rates Strategy for Asia ex-Japan Societe Generale Corporate & Investment Banking