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.
Three regional banks are gearing up to open their branches in Myanmar – a symbolic and political move that has been pushed through ahead of the country’s elections, CT understands.
ICBC’s Singapore branch can now provide renminbi cross-border settlements. What factors will help Singapore to rival Hong Kong as a renminbi hub and what will it mean for the CNH? CT asks the experts