HKMA’s Yue focuses on renminbi as China liberalises capital markets
The renminbi will play a "crucial" role in orchestrating the impact of China's financial sector reforms on the rest of the world, according to Eddie Yue, deputy chief executive at the Hong Kong Monetary Authority (HKMA).
Yue believes the "eventual opening up" of China's capital account will "likely have profound implications for the global financial landscape".
The Chinese authorities have already taken steps to liberalise its capital account, but Yue expects the most impactful reforms are yet
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