FX Week China: RMB internationalisation will take time
The internationalisation of Chinese renminbi and its progress towards becoming a more widely traded global currency in the foreign exchange market is a process that might take time but will continue to evolve, according to speakers at the FX Week China conference in Shanghai yesterday.
Speaking during the opening panel discussion, Andre Meier, resident representative at the International Monetary Fund in Hong Kong, acknowledged the market for offshore renminbi (CNH) remains relatively small, but
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