23 August 2019

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]



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