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Malaysia and Singapore next for Rmb status, says HSBC
December 02, 2010
With developed financial markets and close trade ties with China, Malaysia and Singapore are strongly tipped to be the next in line for offshore renminbi perks from China, HSBC believes.
In pursuit of the true internationalisation of the renminbi, expansion of the offshore market beyond Hong Kong is inevitable. The next candidates for official activity will be Singapore and Malaysia, HSBC believes.
“[They’re jurisdictions will relatively developed financial markets, as...
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