HKMA deputy looks to eurodollar model for offshore RMB development


Eddie Yue, deputy chief executive at the Hong Kong Monetary Authority (HKMA), said last week that "we are at a period of historic transition with regard to the development of the offshore RMB market".

In a speech entitled 'The Development and Future of the Offshore Renminbi Market', Yue looked at the development of the eurodollar market as a guide to how the offshore RMB market might develop.

Yue said he looks forward to "the further streamlining of policy arrangements so that all cross-border

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