may 22, 2012 - First meeting of Hong Kong - London forum to promote cooperation on development of international RMB business
Description:
Senior Representatives from HK and London branches of Bank of China, Barclays, Deutsche Bank, HSBC, JP Morgan, RBS, Standard Chartered
-HK Monetary Authority and HM Treasury = facilitators. Meeting acknowledges the policy liberalisation by mainland Chinese authorities to support the use of RMB for trade settlement, direct investment & portfolio investment.
-Agreement to;
Enhance support for RMB trade settlement, creating a deeper pool of liquidity between HK and UK
Increase business awareness of the opportunities for RMB business
Supported by the cross-border collateral management developed by central money markets unit of HKMA, JP Morgain, Euroclear
Businesses involved would improve the 'scope, efficiency and transparency of the offshore RMB market', improved pricing benchmarks and bond indices
Added to timeline:
RMB internationalisation
Dissertation timeline
Date:
