Singapore and London join forces to boost offshore RMB markets

Singapore and London are working more closely together to consolidate their lead as RMB hubs outside Greater China in areas such as trading, deposits and quotas to invest in the onshore Chinese market. In the wake of the most recent initiative — a Singapore-London RMB Forum that took place last week in the Asian city-state — participants hailed 2015 as a year that would see robust growth in the offshore RMB market.