Singapore, UK plan offshore yuan cooperation

[SINGAPORE] Singapore and the UK will set up a new private sector forum to boost the offshore yuan market outside of mainland China and Hong Kong, a joint statement from the Monetary Authority of Singapore (MAS) and the HM Treasury said yesterday.

The forum will focus on increasing cooperation between the UK and Singapore markets, and comes alongside the establishment of a financial dialogue between the two countries.

The dialogue will provide a platform for "a regular and structured exchange of views on domestic and international financial issues", the joint statement added.