The increasing internationalization of the renminbi has spawned numerous fronts in the battle to capture business from this exciting new trend in global foreign exchange markets. Headlines often focus on the efforts of leading financial centres such as London and Hong Kong to pull in renminbi business, but some smaller financial hubs are also aiming to grab their own slice of the market.
South Korea’s proximity to China and the resulting close trading relationship mean the importance of the renminbi has been growing for Seoul.
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