Hong Kong revels in renminbi role
Revelling in renminbi
Hong Kong is abuzz following Beijing’s decision to further ease restrictions on the trading of renminbi in the special administrative region, so creating the opportunity for Hong Kong to become a powerful offshore renminbi trading hub. Bankers are predicting the development of liquid derivatives markets, a burgeoning new structured products business, and interesting new arbitrage opportunities between onshore and offshore renminbi positions. The excitement may be a little overdone – at least in
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