Foreign Bankers Deny Move To Grant Access To Renminbi
BANKS
The Singapore daily Business Times created a tempest in a teapot over the holiday period with a report that China had finally granted access to the renminbi market to a selected group of five foreign banks.
The article, sourced from the Chinese paper, Shanghai Star, plus reports from Reuters and Bloomberg Business News, was apparently a bit premature, according to executives at some of the banks supposedly involved.
"There has been no change in the situation," says HSBC Holdings treasury director
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