Date
20 October 2017

China open to Paris offshore RMB hub bid, Xinhua says

China would be happy to see Paris become an offshore renminbi trading center because up to US$10 billion in Sino-French trade, or 20 percent of the annual total, is already conducted in the currency, Xinhua reported Tuesday, quoting Vice Minister of Finance Zhu Guangyao {朱光耀} in Beijing. French Finance Minister Pierre Moscovici said RMB deposits his country are the highest in the European Union and France can play a role in the internationalization of the currency. Moscovici said he hopes French financial institutions can qualify to develop RMB business, including corporate bonds, the report said.

– Contact HKEJ at [email protected]

EL/AC/SK

 

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