LATEST NEWS : The Expanding Offshore Renminbi

As China continues to lower barriers to its capital account, offshore renminbi (RMB) trading markets have grown substantially, guided in their establishment and encouraged in their development by Chinese leaders. The People’s Bank of China appointed RMB clearing banks in London and Frankfurt in June. South Korea also agreed last Thursday to foster its offshore RMB […]

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China’s yuan makes waves on international currency markets

Evidence the yuan is becoming truly global can be found in Rongrong Huo’s passport, which shows the HSBC banker bouncing from Switzerland to South Africa fielding inquiries from a growing number of clients on how they can trade China’s currency. “The market potential is huge,” Huo, who heads HSBC’s yuan business development for Europe, said […]

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