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Selection location for an offshore financial center RMB

Han Chao   (Postgraduate, Saint-Petersburg State University Of Economics)

The rapid development of offshore markets eliminated the technical obstacles to the nationalization of the RMB, made a reform of capital accounts very urgent, and created favorable conditions for it. A quick growth of the offshore RMB market not only satisfied the demand for the carrying out of business payments denominated in RMB under conditions of regulation of capital accounts, but also increased the supply of liquidity. Due to the large number of markets and innovations in the field of financial products there are offered financial services including investment, financing and hedging, the demand of non-residents for preservation and increase of RMB assets is satisfied as well as the attractiveness of the RMB market and confidence of its participants have greatly strengthened.

Keywords:Internationalization, offshore market, financial system, foreign trade.
 

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Citation link:
Han C. Selection location for an offshore financial center RMB // Современная наука: актуальные проблемы теории и практики. Серия: ЭКОНОМИКА и ПРАВО. -2017. -№03. -С. 51-54
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