Europe's RMB biz keeps growing — with more to come
It has been a two momentous weeks for the offshore renminbi market. There has been a torrent of deals, Frankfurt and Luxembourg have seen their debut RMB bond issues, and standby letters of credit (SBLCs) have been used for the first time in the asset class. Coming after another busy period in policymaking, when Paris gained an RQFII quota, and London and Frankfurt signed payments agreements with China, the momentum looks unstoppable.
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