Yuan clearing beats volume in Hong Kong dollars

The average daily turnover of yuan interbank settlements handled by Hong Kong's yuan clearing platform surpassed settlements in Hong Kong dollars last month, the head of the city's de facto central bank said.

Norman Chan Tak-lam, chief executive of the Hong Kong Monetary Authority, said in an interview in New York last week that the robust growth of yuan cleared by the Real Time Gross Settlement system was an indication of a significant increase in offshore yuan commercial and trade activities conducted in the city.

via Business feed http://www.scmp.com/business/banking-finance/article/1262453/yuan-clearing-beats-volume-hong-kong-dollars