Hong Kong Monetary Authority chief executive Norman Chan Tak-lam yesterday pledged to support Shanghai in building an onshore market for the yuan.
Chan said he and Shanghai vice-mayor Tu Guangshao discussed a plan under which Hong Kong would introduce more capital and investors to Shanghai to help create an onshore yuan hub.
"Co-operation between Shanghai, as an onshore market, and Hong Kong, an offshore centre, could be strengthened," Chan said.
"There is still big room for the tie-up to be consolidated."
via Business feed http://www.scmp.com/business/banking-finance/article/1103985/hkma-supports-shanghai-onshore-yuan-hub
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