China FX market boosts foreign appeal

Paolo Danese

June 28, 2016 10:45 am

pboc 230px. — People walk past the China's central bank or People's Bank of China in Beijing Tuesday, Aug. 11, 2015. China devalued its tightly controlled currency on Tuesday following a slump in trade, triggering the yuan's biggest one-day decline in a decade. (AP Photo/Andy Wong) | Andy Wong/AP/Press Association Images

HSBC and Bank of China were among the first banks to act as market makers for the newly established direct trading of the Korean won and the RMB this week, just as a first batch of offshore-based banks got approval from Chinese authorities to access the onshore currency markets.

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Regulation China Regulation and Policy China Asia Regulation People and Markets South Korea ICBC Asia News content China EM People and Markets Emerging Markets HSBC China People and Markets

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Paolo Danese