M'sia–Hong Kong dialogue discusses dev't of renminbi biz
Published on: Saturday, March 28, 2015
Kuala Lumpur: The Second Malaysia–Hong Kong Private Sector Dialogue on Offshore Renminbi (RMB) Business, which aims to foster closer collaboration between both countries on the development of RMB business, was successfully held in Johor Baharu Friday.Led by Bank Negara Malaysia (BNM) and Hong Kong Monetary Authority (HKMA), the dialogue reviewed the recent progress in RMB internationalisation, including the growing use of the currency in international trade, direct investments and portfolio investments.Other areas discussed included the opportunities for the potential use of the RMB arising from China's expanding role in trade and investments in Asia, as well as the continuing progress to make the RMB capital account convertible, said BNM and HKMA in a joint statement here Friday.
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Participating banks also shared their experiences in utilising the RMB to better meet trade, investment and funding needs of businesses.Stay up-to-date by following Daily Express’s Telegram channel.
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