Standard Chartered Bank has teamed with officials from the People’s Bank of China, China’s State Administration of Foreign Exchange for a series of roadshows to promote renminbi trade settlement in Malaysia, Thailand and Singapore. This is the first time that officials from government and regulatory bodies in China have partnered with an international bank on a roadshow.
China’s state council announced the cross-border trade settlement scheme in April 2009 – a first tentative step towards convertibility of the Renminbi and its use as a reserve currency.
Access intelligence that drives action
To unlock this research, enter your email to log in or enquire about access
