The renminbi is a big topic for treasurers though it remains an unknown quantity. What trends are you seeing from your clients concerning the currency, and what are your broader plans for China
We are open for business regarding the “redback” both onshore and offshore, and we have a foreign exchange license quota for CNY and for CNH CNY is the onshore counterpart of CNH, which is offshore renminbi. Every large bank with a presence in Beijing, Shanghai and Hong Kong has developed onshore and offshore renminbi capability for clients, but we are the first Australian bank to do so. As the renminbi becomes more flexible and freely tradable,...
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