Edition: English | 中文简体 | 中文繁体 Монгол
Homepage > Biz Video

How will SDR affect offshore yuan markets?

Reporter: Luo Rui 丨 CCTV.com

09-30-2016 00:53 BJT

Just how will the yuan being included in the SDR impact China's off-shore yuan markets? London is the yuan's most important offshore market outside of Asia. Will Britain's decision to leave the European Union affect the yuan-denominated business in London?

Brexit may have people wondering if London would continue to be the world's financial hub. But so far, the offshore yuan business in London doesn't seem to have been affected. The yuan's clearance volume there has already exceeded 10 trillion yuan and continues to rise.

"The yuan' clearance volume in London has already exceeded that of Singapore's in March this year. London has become the second-largest offshore yuan centre, due to a strong rally in transactions in yuan in the London market. " Li Biao, the  chairman of China Construction Bank in London.

Analysts say that shows an improvement in people's willingness to use the yuan in international transactions.

Analysts say that the yuan will continue to gain clout in the global financial markets after it officially joins the SDR on Saturday.


Follow us on

  • Please scan the QR Code to follow us on Instagram

  • Please scan the QR Code to follow us on Wechat