UK and Singapore set up RMB private sector working group

renminbi-notes

Officials from the UK and Singapore, two of the largest offshore renminbi (RMB) trading centres, have announced the creation of a private sector forum to encourage the growth of the currency in the FX market.

The working group will form part of the UK-Singapore Financial Dialogue,which was finalised during a meeting between the UK chancellor of the exchequer, George Osborne, and leading figures in the Singaporean government, including prime minister Lee Hsien Loong, in Singapore last week. 

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