Corporates and investors need confidence to tap offshore RMB, say banks

dollar-and-renminbi

The internationalisation of Chinese renminbi (RMB) has accelerated in recent weeks with a string of developments including the creation of new swap lines with the People's Bank of China (PBoC), the launch of direct RMB trading against major currencies and the extension of a key investment scheme to the UK. But some say the biggest challenge is simply giving international corporates and investors the confidence to trade the Chinese currency.

Among the many recent developments, the publication of

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