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UK leaving the EU effects on RMB internationalization

  • Author:Dreamy F
  • Source:www.china-disposable.com
  • Release on :2016-07-19
Today, the RMB has just joined the IMF basket of currencies plan, has taken an important step in the internationalization of RMB. China is pushing and major trading partner countries achieve RMB settlement policy in order to consolidate and strengthen the international influence of the renminbi. In this regard the United Kingdom to provide strong support for the Chinese - London has become the second largest after Hong Kong's offshore RMB settlement center.

London has been the EU's financial services center, which is based in the UK financial companies bring great convenience for those headquarters. These enterprises equivalent to have opened branches in other EU countries, "Schengen" is not required to be registered again in the target country. Thus, the Chinese RMB liquidity to London as an important base in the European market.

However, once the UK off to Europe, the bonus money will disappear and costs RMB in Europe by the British promotion strategy brings also increased significantly. In contrast, the UK is to promote the internationalization of RMB is no longer the best strategic partner.

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