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Projected Dividend Payouts (2024)
Estimated dividend payouts for mainland firms listed in Hong Kong by month.
Primary Sources
Yuan Rally Seen Facing Summer Test Early as Record Payouts Loom
The yuan is likely to face its seasonal weakness sooner than usual this summer, say analysts, as Chinese firms seek to lock in favorable exchange rates ahead of a record dividend payout in June.
Long-term rise of yuan intact despite challenges
A cashier counts RMB notes in a bank in Haian, Jiangsu province. [Photo/Sipa] Despite near-term challenges over growth and geopolitics, the RMB is likely to increase its share in global forex reserves over the long-term. When the renminbi was included in the special drawing rights basket in 2015, expectations for a rapid rise of the Chinese currency — also known as the yuan — in the global financial architecture were high. In fact, over the following years, the RMB's share within global foreign exchange reserves more than doubled to 2.8 percent in 2021, according to IMF's Currency Composition of Official Foreign Exchange Reserves data. The widespread assumption at that time was that the RMB would eventually challenge the dominant role of the US dollar. However, the pace of growth of the RMB's share of forex reserves has been hindered by several factors in recent years. According to the IMF, its share fell slightly to around 2.3 percent by the end of 2023. UBS Asset Management carries out an annual survey of central bankers ahead of its Reserve Management Seminar in June. In its 2024 survey, the RMB's average long-term target allocation among reserve managers stood at 5 percent, a slight drop from 5.2 percent in the 2023 survey. However, looking at the year ahead, central banks are planning to further add to their RMB positions. Overall, 70 percent of survey respondents answered that they had already invested, or were considering investing, in the Chinese currency. The pause in the march of the RMB to global reserve currency status is due to multiple factors. First of all, the rise in US interest rates that began in 2022 to fight inflation has moved the interest rate differential in favor of the greenback, leading to reserve managers taking advantage of higher yields in the US Treasury market. Next, international investor sentiment toward China, including reserve managers, is currently weak due to the country's ongoing economic challenges. Finally, geopolitical tensions and the risk of sanctions have somewhat dented the appetite of central banks for onshore yuan assets. Following the start of the conflict in Ukraine, the US and its allies targeted reserves held by the central bank of Russia, raising concerns among central banks about sanction risks stemming from forex reserves, and whether they can continue to be perceived as "safe" assets. The increase in direct and indirect sanction risks has undoubtedly impacted demand for the Chinese currency among res...
New research shows China's trade surplus is driven in part by ...
8 hours ago ... For the first time, China now runs a larger trade surplus with Europe than with the United States — a shift driven by tariffs, redirected exports, and China's ...
BYD's Quarterly Profit Slides Fastest in Six Years as China Sales ...
BEIJING, April 28 (Reuters) - Chinese electric vehicle maker BYD's quarterly profit fell at its fastest pace since 2020, a stock market filing showed on Tuesday, amid sluggish sales at home.
