internationalisation

Shanghai has been handed more tools, including the acceleration of offshore loans and digital trade, to aid offshore financial services in a boost to the city as a global financial hub; there is also cooperation with Hong Kong.

Rmb internationalisation faces challenges from Trump’s determination to keep the US dollar as the leading global currency; FA understands that Hong Kong is taking a more "commercial" approach.

The Hong Kong exchange may provide renminbi to encourage aftermarket trading in forthcoming RMB equity products.

China’s move to allow foreign lenders greater access to its interbank bond market will encourage both renminbi offshore trade settlement and liquidity, and marks another step towards the currency’s long-term convertibility.