Last Updated August 28, 2009
A new currency for trade
This edition’s GTR Asia Market View comes from HSBC. Following the launch of a Chinese government pilot scheme permitting the limited use of renminbi (Rmb) in trade transactions, HSBC has closed the first trade transaction to be settled in Rmb. Chris Lewis, head of trade and supply chain, greater China, at HSBC, looks at the impact of the scheme on trade finance markets.
