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Treasurers cautiously optimistic of RMB
06 May 2011
Senior treasurers from various industries cautiously positive over the rate of Renminbi internationalisation
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RMB
Standard Chartered
Close to 20 senior treasurers from various industries have expressed that while they feel positive over the rate of Renminbi internationalisation, they are adopting a cautious and conservative approach in managing RMB liquidity, funding and trade settlement.
At a meeting hosted by Standard Chartered Bank in Hong Kong, it was discussed that greater availability of products for hedging offshore RMB needed. In addition, corporates are waiting for specific developments in RMB liquidity management and infrastructure, such as two-way flow of funds and RMB denominated investment products, but also for RMB to gain wider acceptance as a trade settlement currency beyond Hong Kong.
For some participants, RMB is preferred, as the restricted...
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