Speaking on the sidelines of the Think Asia, Think Hong Kong conference in London on Tuesday, Norman Chan, chief executive of the Hong Kong Monetary Authority said he was content with the pace of internationalisation of the renminbi.
"The People's bank of China are very clear about where they are heading," he said. "When you come to the pace, I think the guiding principles are basically being incremental and gradual so you don't take a great leap forward, but a step at a time".
- Next financial crisis “will be brewing” in shadow banking – Bullard
- James Bullard on 2% rates, tariffs and Fed leadership
- Policies must change to stop emerging markets crisis, analysts say
- Brian Wynter on Jamaica’s inflation-targeting transition
- Argentinian central bank raises large banks’ reserve requirements