US overtakes Taiwan as offshore RMB clearing centre

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The US has doubled its share of the world's offshore renminbi (RMB) clearing, overtaking Taiwan to become the world's third-biggest offshore clearing centre after Singapore and the UK, according to payments processing company Swift.

In April 2014, 2.6% of total RMB payments were carried out in the US, up from 1.3% a year earlier, boosting hopes that the currency's adoption as a global payments unit is on the rise.

"The growing adoption of RMB payments in the US to the China/Hong Kong corridor is

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