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London, Taiwan and Singapore grow as Rmb offshore hubs
Date: May 08, 2012
Author:
Baron Laudermilk
Categories:
Hong Kong,
Singapore,
Taiwan,
Trade Finance,
Transaction Banking
Keywords:
Rmb,
London,
International Transactions,
Foreign Exchange Transactions,
Economic Cooperation Framework Agreement,
Currency Trade Swaps
Accounting for 46% of renminbi foreign exchange transactions and 30% of payments sent and received outside of Hong Kong and China in 2011, London is gaining strength as an offshore hub for the currency.
Supply chain in the age of globalisation
In an exclusive video interview, William Fung, executive deputy chairman of Li & Fung, discusses trends underpinning the manufacturing, labour and trade sectors in the globalised supply chain.
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