Singapore Officially Started RMB Offshore Clearing Business

  • Friday, May 31, 2013
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  • Keywords:RMB Singapore
[Fellow]
[Ferro-alloys.com] Singapore Branch of the Industrial and Commercial Bank of China (ICBC) formally started RMB offshore clearing business recently. At the same time, HSBC and Standard Chartered issued the first batch of RMB offshore bond. Hereto,Singapore became the third market that issued RMB offshore bond after Hong Kong and Taiwan at present.
 
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