Taiwan bolsters its renminbi market

Taiwanese regulators and investment banks hope the popularity of China's currency will lead to a boom in issuance of renminbi Formosa bonds.

Taiwan bolsters its renminbi market

Taiwan’s push to become a renminbi hub appears to be bearing fruit.

Renminbi deposits held in Taiwan, including those of banks’ domestic banking units DBU and offshore banking units OBU, increased from Rmb1.3 billion to Rmb75.8 billion in six months, since renminbi business in Taiwan was officially launched.

The pace is so speedy that Taiwan - from early February - took only three months to have deposits of Rmb60 billion, compared...

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