As far as offshore renminbi hubs outside of Hong Kong go, London rules the roost, but Australia’s quiet but determined bid is showing what an RMB ecosystem could look like
A platoon of personal shoppers are offering a new option for corporates looking to build their presence in China. But selling via so-called daigou raises several treasury challenges.
The IMF has endorsed the renminbi as a freely usable currency, recognising China’s increased importance in the global financial market. The renminbi’s journey to attaining this status was never straightforward.