Singapore efforts to become RMB offshore centre bolstered by bond funds


International and regional financial institutions in Singapore are ramping up efforts to launch renminbi-denominated financial products in the Lion City to target the growing investor appetite for instruments linked to the appreciating Chinese currency.

Officials at Royal Bank of Scotland (RBS) and other market watchers believe Singapore has the potential to become a second offshore renminbi centre following Hong Kong's efforts to assume the role as the pre-eminent centre for renminbi trading

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