Offshore yuan hubs should collaborate
These centres must think ahead as Shanghai develops into global centre
Add BT as a preferred source[SINGAPORE] There needs to be greater cooperation between offshore renminbi centres to enlarge the renminbi pie as Shanghai shapes up as an international financial centre, said a top Hong Kong securities official.
Alexa Lam, deputy chief executive officer of the Securities and Futures Commission (SFC), told delegates at the Offshore RMB Markets conference yesterday that "offshore centres need to think ahead or their cheese will be moved away".
Noting that the renminbi story today is not just a Hong Kong story but a global one, she said that competition is not a "zero-sum game".
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