Chinese law doubts holding back RMB internationalisation – paper

2015-renminbi-side-b-web

Worries about the protection offered to foreign investors by China's legal system are holding back the internationalisation of the country's currency, an occasional paper published by the Bank of Italy argues.

In Offshore RMB markets in Europe: prospects for greater financial integration between Europe and China, Daniela Marconi et al analyse the recent growth of trading in the renminbi in European financial sectors.

London is Europe's leading centre for trading the currency, the paper says.

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