RMB growth offers ‘huge opportunity’ for London
UK capital can benefit from increased offshore RMB volumes, says BOC manager
The rising dominance of the renminbi in global markets offers London a huge opportunity to become a vital offshore trading hub for the currency, says one Bank of China (BOC) official, as banks and businesses cash in on the growing Chinese economy.
Speaking at yesterday's EMFX Trading Summit in London, BOC manager Wenjian Fang said London is well-placed to benefit from its status as a credible financial hub and capture a slice of the renminbi internalisation pie.
"London should do well in RMB,"
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