Singapore can be offshore yuan centre, but won't surpass Hong Kong

Reuters, 11 Apr 2011
SINGAPORE, April 11 (Reuters) - Singapore has the financial infrastructure to become an overseas trading centre for the Chinese yuan, but political considerations will prevent the Southeast Asian city-state from challenging Hong Kong's supremacy in this area.
Analysts said that while Singapore will likely grab a large slice of the fast-growing offshore yuan business, the People's Bank of China (PBOC) will ensure that Hong Kong, a special territory of China, remains the paramount centre. Full story

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