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New figures published by Luxembourg for Finance reveal a continuing increase in international renminbi business volumes in Luxembourg. The pool of RMB deposits held by banks in Luxembourg climbed up to 67.2 RMB bn in H1 2014, compared to 64.0 RMB bn in H2 2013.
Loan portfolios increased by 35% to 72.8 RMB bn in H1 2014, compared to 53.8 RMB bn in H2 2013. RMB assets held within Luxembourg domiciled funds decreased slightly by 9% to 238.3 RMB bn, due to the underperformance of China’s equity markets over the first half of 2014.
The turnover of RMB securities in H1 2014 already exceeded volumes of the full year 2013: 690 RMB bn in H1 2014 compared to 635 RMB bn in 2013. Holders of RMB denominated securities mainly originate from Asia, namely Singapore ...
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