The Sibos Big Issue Debate
Renminbi: The real game changer
The global RMB network has served the Chinese banks, corporations and investments well with the world operating within the comfort of their own currency. At the same time, it offers international corporations and investors a greater degree of access into Chinese markets. RMB hubs will allow the exponential growth of RMB usage beyond the Chinese borders – directly with China or, increasingly between offshore RMB hubs. With the gradual opening of China’s capital account and the internationalisation of the RMB, the real game changers may be approaching faster than you think.