SINGAPORE, June 12 (Xinhua) -- The pool of renminbi deposits in Singapore has grown to about 60 billion yuan (9.4 billion U.S. dollars), a senior official of Singapore's central bank said on Tuesday.
Speaking at a forum on the Chinese currency here, Ong Chong Tee, deputy managing director of the Monetary Authority of Singapore, said that he expected the renminbi deposits to go for offshore investment products.
Singapore can provide renminbi financing needs, he said, citing the renminbi debt issuances by Global Logistics Properties and Singamas. Full story
