London rubber-stamps deal for offshore RMB


With twice as many dollars traded in London than the US and an even greater multiple of euro-based activity relative to the eurozone itself, it is unsurprising that Chinese authorities have opted for the UK capital as an international centre for the RMB. Time zone, know-how and crucially liquidity were the reasons that just a day after the People's Bank of China inked a bilateral swap deal with the European Central Bank, it signed a far more comprehensive deal with the UK government.

The agreeme

To continue reading...

You need to sign in to use this feature. If you don’t have a account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an indvidual account here: