Rmb internationalisation must be accompanied by deeper reforms within China’s financial system
Proceedings report from the RenminbiWorld Conference 2013, on the status of foreign currency swaps and the creation of international renminbi liquidity. November 18, 2013 | ResearchI. Introduction 1. The Asian Banker’s RenminbiWorld Conference 2013 brought together international financial market players as well as senior Chinese professionals in a serious and frank dialogue on the opportunities arising from the internationalisation of the renminbi. 2. The following report summarises the central points presented by key speakers of Day One, Session 3, entitled, “Foreign Currency Swaps and the Creation of International Renminbi Liquidity”, including main issues discussed, as well as the Question and Answer session that followed. 3. The objectives of the session were to discuss: i. Next steps in the renminbi internationalisation process II. In Attendance Key participants in this teleconsultation were: 1. Alfred Schipke, senior resident representative, China, IMF III. Key discussion notes 1. Renminbi internationalisation: Taking stock and next steps IV. Detailed discussion notes 1. Renminbi internationalisation: Taking stock and next steps a. The International Monetary Fund (IMF) welcomes the internationalisation of the renminbi, noting that although it is growing rapidly, the currency remains in its infancy. Please login to read the complete article. If you already have an account, you can login now or subscribe/register.
Categories: China, Clearing & Settlement, Markets & Exchanges, Risk & Compliance, Rmb, Trading & Data, Transaction BankingChina,Clearing & Settlement,Markets Exchanges,Risk & Compliance,Rmb,Trading & Data,Transaction Banking, China,Clearing & Settlement,Markets & Exchanges,Risk & Compliance,Rmb,Trading & Data,Transaction Banking, Keywords:RenminbiWorld Conference 2013, IMF, Special Drawing Rights, Foreign Currency Swaps, PBoC RenminbiWorld Conference 2013, IMF, Special Drawing Rights, Foreign Currency Swaps, PBoC
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