Yangzijiang makes subdued renminbi trading debut on SGX

The Chinese shipbuilder becomes the first company to have its shares trade in renminbi in Singapore, making use of the exchange’s dual-currency platform.

The debut of equities trading in offshore renminbi by Yangzijiang Shipbuilding on the Singapore Exchange SGX on Monday was not quite a Big Bang. Indeed, with only 27,000 shares traded the entire day it went pretty much unnoticed.

Perhaps that was why no shares at all changed hands in the renminbi-denominated stocks yesterday.

Still, the fact that companies now have the ability to trade in renminbi is a key step for Singapore as it aims to become an offshore renminbi centre to rival Hong Kong. It may take time to reach big volumes in the product, but the platform is in place if and when the...

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