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A study from Aite Group, commissioned by Clearstream, on “Internationalising the Renminbi: Weaving a Web for the Next World Currency” shows that market participants in Asia and Europe see the development of offshore centers in Europe as having a key impact on the global liquidity of China’s trading currency, the Renminbi (RMB).
During Q1 and Q2 2014, Aite Group held detailed interviews with market participants in Asia and Europe from 24 top firms in the financial industry to discuss their views on the internationalisation of the RMB, the development of European offshore centres and the current state of play of onshore RMB hubs. More than half of interview respondents contacted during Aite Group’s research believe that Europe will play a key role in the currency’s...
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