French clearing house to pave way for 'Eurorenminbi' market, says BoC Paris
The planned offshore renminbi clearing house in Paris will mark the first step towards the establishment of a broad offshore RMB ecosystem independent of central banks and reminiscent of the Eurodollar market, according to Peng Wei, deputy general manager of Bank of China Paris branch (BoC Paris), the firm that is at the heart of preparations for the launch of the system next year.
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