Chinese heavyweight talks up offshore renminbi market
Li Keqiang, Vice Premier of the People’s Republic of China, gave debt bankers plenty of reason for excitement on Wednesday: announcing a number of long-awaited schemes that would help develop the offshore renminbi market, including the creation of mini-QFII licenses. But the devil is in the detail, and analysts are wary of getting too excited by what are still rather vague pledges.
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