Dim sum predicted to withstand onshore opening
Say panellists at annual Hong Kong RMB conference
Offshore renminbi markets are likely to survive the International Monetary Fund's milestone move to add the Chinese currency to its special drawing rights (SDR) basket, panellists predicted at a major RMB conference today (April 29) in Hong Kong.
China is pushing for its currency to be included in the IMF's SDR basket, which is up for review in October. Admittance is widely considered a prerequisite for the RMB's internationalisation – an explicit aim of the country's authorities.
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