POETRY RELIGION PHILOSOPHY: CCB kicks off China's first money market fund in EU CCTV.com 03-26-2015 18:23 BJT Share this: Share on twitter Share on facebook Share on sinaweibo Share on email More Sharing Services Font size: London has become the first European city to trade an RMB denominated money market mutual fund. Wednesday's start was seen as another major move by London to support the Chinese currency after the UK announced its decision to join the China-sponsored Asian Infrastructure Investment Bank. The RMB denominated money market ETF was released by China Construction Bank. It's the first such fund issued by a Chinese bank, marking a major breakthrough on the RBM's internationalization process in Europe. A milestone was established as China Construction Bank released its first money market ETF in London. "This breakthrough will give a boost to the RMB internationalisation process in London and Europe," said Hu Zhanghong, president of CCB International. Official agencies in the UK have welcomed the yuan product. That includes the UK Treasury, UK Trade & Investment, the Financial Conduct Authority, and the London Stock Exchange. The money market fund is priced under the yuan, the euro and the pound, with HSBC providing custodian services. The fund is expected to start the circulation of some 25 billion worth of RMB deposits in London, and help build a complete ecological environment for the yuan to thrive in the European continent.

Πέμπτη 26 Μαρτίου 2015

CCB kicks off China's first money market fund in EU CCTV.com 03-26-2015 18:23 BJT Share this: Share on twitter Share on facebook Share on sinaweibo Share on email More Sharing Services Font size: London has become the first European city to trade an RMB denominated money market mutual fund. Wednesday's start was seen as another major move by London to support the Chinese currency after the UK announced its decision to join the China-sponsored Asian Infrastructure Investment Bank. The RMB denominated money market ETF was released by China Construction Bank. It's the first such fund issued by a Chinese bank, marking a major breakthrough on the RBM's internationalization process in Europe. A milestone was established as China Construction Bank released its first money market ETF in London. "This breakthrough will give a boost to the RMB internationalisation process in London and Europe," said Hu Zhanghong, president of CCB International. Official agencies in the UK have welcomed the yuan product. That includes the UK Treasury, UK Trade & Investment, the Financial Conduct Authority, and the London Stock Exchange. The money market fund is priced under the yuan, the euro and the pound, with HSBC providing custodian services. The fund is expected to start the circulation of some 25 billion worth of RMB deposits in London, and help build a complete ecological environment for the yuan to thrive in the European continent.

CCB kicks off China's first money market fund in EU

CCTV.com
03-26-2015 18:23 BJT

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London has become the first European city to trade an RMB denominated money market mutual fund. Wednesday's start was seen as another major move by London to support the Chinese currency after the UK announced its decision to join the China-sponsored Asian Infrastructure Investment Bank.

The RMB denominated money market ETF was released by China Construction Bank. It's the first such fund issued by a Chinese bank, marking a major breakthrough on the RBM's internationalization process in Europe.

A milestone was established as China Construction Bank released its first money market ETF in London.

"This breakthrough will give a boost to the RMB internationalisation process in London and Europe," said Hu Zhanghong, president of CCB International.

Official agencies in the UK have welcomed the yuan product. That includes the UK Treasury, UK Trade & Investment, the Financial Conduct Authority, and the London Stock Exchange.

The money market fund is priced under the yuan, the euro and the pound, with HSBC providing custodian services. The fund is expected to start the circulation of some 25 billion worth of RMB deposits in London, and help build a complete ecological environment for the yuan to thrive in the European continent.