Kaushik Shaparia, Deutsche Bank
Recent estimations for total offshore renminbi in Hong Kong place it at over Rmb300 billion. What expectations do you have for the currency this year
We have seen a lot of interest from both financial institution and corporate clients in offshore renminbi, both from a trade finance perspective and a cash management angle. Offshore companies are generally looking to gain access to renminbi liquidity and pricing onshore companies want more transparency in their FX management.
We’ve had some nice successes...