Chinese yuan, ever-more a global currency
By Gao Changxin in Shanghai | 皇冠体育app Daily | Updated: 2014-05-17 06:48
Lee Beng-Hong, head of markets at Deutsche Bank 皇冠体育app, rescheduled his interview with 皇冠体育app Daily three times. He flies across the country to meet clients and business partners who want ever more to move the yuan in their pocket over the border.
A major client request is for more financial products, such as interest rate options and swaps. That would allow them to hedge bulging yuan positions, said Lee in Frankfurt-based Deutsche Bank AG's Shanghai office. The building occupies four stories in the International Finance Center skyscraper. The office houses around 500 employees, the majority working in corporate banking.
Lee said Chinese regulators will soon act to make those products a reality.
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