RMB Offshore Centre. Lee Ka Keung 08028443 Law Po Yan 08026068. The definition of Renminbi Offshore center ( 人民幣離岸中心 ). When the currency flows to a place outside its native market, this place is called the offshore centre. Where should RMB offshore centre be located?
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RMB Offshore Centre
Lee Ka Keung 08028443 Law Po Yan 08026068
HK or Shanghai?
(1)Official recognized status from China;
(2)Circulation of Renminbi is approved (認可流通) in Hong Kong;
(3)Deposit of Renminbi in Hong Kong is not restricted by the China law;
(4) World-Qualified clearing and settlement system
(5)Relaxation of RMB business in HK recently
(6) internationally recognized legal system
(7) No restriction on the flow of information
(8) Hong Kong’s business is market-oriented
RMB cross-border trade settlement pilot program