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Vice premier meets HK bankers after RMB's SDR inclusion

Xinhua, December 3, 2015 Adjust font size:

Vice Premier Ma Kai on Thursday met with a Hong Kong bankers delegation headed by Norman Chan, chief executive of Hong Kong Monetary Authority, days after the Chinese yuan was included by the IMF in its Special Drawing Rights basket.

A statement from the State Council said they exchanged views on the economic situation and financial cooperation between the Chinese mainland and Hong Kong.

The statement did not give other details, but when visiting Shanghai this week, Chan was quoted by Hong Kong newspaper Wen Wei Po as saying that Hong Kong will introduce more yuan-denominated assets as the city vies for a leading role as a yuan trading hub.

Though Hong Kong is still the largest offshore renminbi center, China has appointed renminbi clearing banks in London, Singapore, Frankfurt and Luxembourg as it pushes for a global role for the yuan. Endi