Fate of renminbi market contingent on Chinese authorities’ resolve

BoE 'thought experiment' could result in sixfold increase in RMB usage


China's international investment position as a proportion of world GDP could see a six-fold increase over the next decade, if the country's financial liberalisation process continues and economic growth remains strong, the Bank of England's (BoE) chief cashier, Chris Salmon, said yesterday at the National Asset-Liability Management conference in London.

While Salmon underscored that such figures were the result of a BoE research 'thought experiment', rather than the bank's official forecast, it

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