Wednesday, January 27, 2016
Efforts to Build Offshore Market In US Is Expected To Continue
ANBOUND
In November 2015, a new working group was formed to establish the trading and clearing of RMB in the United States and it hopes to establish a framework for the direct trading of RMN in the U.S. and to encourage more trading and clearing of RMB in the United States.
ANBOUND's research team is of the view that although it is necessary to intervene the offshore market moderately, for the sake of maintaining the long-term robust development in the offshore market and to establish more RMB-clearing hubs to promote the internationalization of RMB, it is crucial that China’s regulatory departments should improve further on their communication mechanism with the market and to guide the market expectation effectively and they should be more vigilant when intervening the offshore market.