Study: Chinese offshore centres in Europe will play key role in RMB internationalisation
A new study commissioned by Clearstream from Aite Group reveals that market participants in Asia and Europe expect the development of offshore centres in Europe to play a key role in fostering global liquidity for the Chinese Renminbi (RMB).
Aite Group’s research provides a unique insight into financial markets' growing interest in the Chinese currency. The findings reflect the potential for RMB growth whilst identifying key barriers to the further development of the offshore RMB, which financial market infrastructures such as Clearstream can help address.
In the course of its research, Aite Group held detailed interviews with 24 top firms in the financial industry in Asia and Europe on the internationalisation of the RMB and the development of European offshore centres. In addition, the study on ‘Internationalising the RMB: Weaving a Web for the Next World Currency’ analyses the current state of RMB hubs in China.