19 July 2019

Taiwan steps up plan to become offshore renminbi hub, paper says

Taiwan is ramping up plans to become an offshore renminbi center by developing a wide range of products, Economic Daily News reported Thursday, citing Tseng Ming-chung, chairman of the Financial Supervision Commission. These include currency hedging and yuan-denominated bonds. Taiwanese regulators are in talks with their mainland counterparts on easier renminbi repatriation. Also, Taiwan is seeking closer business ties with Hong Kong, Singapore and London, the report said.    

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