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International leaders from government and industry gathered today at the Renminbi Forum held in Luxembourg to discuss the rising internationalisation of the RMB. Luxembourg's Minister of Finance, Pierre Gramegna, and HE Zeng Xianqi, Ambassador of the People’s Republic of China to Luxembourg opened the conference that was attended by over 400 international experts and practitioners. The Forum addressed China’s economy and its importance on a global stage, financial reform in China, the role of international RMB hubs, RMB clearing activities, RMB financial products and the structuring of RMB funds. The slowing economic growth is carefully managed by the Chinese authorities, who described it as the ‘new normal’.
Panellists highlighted how China’s slowdown is specifically...
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