Singapore tops London in offshore RMB payments
Singapore has overtaken London as the top renminbi offshore clearing centre after Hong Kong, according to the latest data from the Society for Worldwide Interbank Financial Telecommunication (Swift). Singapore’s RMB payments value increased by 375% between March 2013 and March 2014, putting it behind only China and Hong Kong.
Unlock this article.
The content you are trying to view is exclusive to our subscribers.
To unlock this article:
- ✔ 4,000 annual insights
- ✔ 700+ notes and long-form analyses
- ✔ 4 capital markets databases
- ✔ Daily newsletters across markets and asset classes
- ✔ 2 weekly podcasts