The internationalisation of the Renminbi (RMB) is one of the more contentious and widely debated aspects of economic reform in China. Beijing has been prudently hastening the currency's use in recent years through a steady liberalisation programme. China's new leaders have galvanised this free-market push since taking charge early last year, bringing about capital market and interest rate liberalisation and establishing the Shanghai Free Trade Zone in the first few months of office.
Taken together, these changes highlight China's commitment to reform and point to capital account liberalisation being closer than ever before. The opening up of the capital account, enabling companies and investors to trade the Renminbi across China's borders without hindrance, is seen as the crucial reform for the currency to emerge as a truly global rival to the US dollar.
This conference will see leading executives in Chinese financial services throws light on the Chinese currency’s progress to full international status and the likely developments that will hinder and advance the process.
Agenda
14.00-14.30 Registration
14.30-14.40 Welcome Remarks, Mick Adams, Vice Chairman of the Board, European Chamber Shanghai
14.40-15.00 RMB Internationalisation: RMB Going Global, Lewis Sun, Head of Sales, Global Payments and Cash Management, HSBC China
15.00-15.30 Cross Border RMB Cash Pooling in the SFTZ, Lewis Lu, Tax Partner, KPMG Advisory (China) Limited
15.30-16.00 Case Study: RMB in Cross Border Trade Settlement, Eric Yang, Director, China Markets & Initiatives, Asia Pacific, SWIFT
16.00-16.30 Coffee Break
16.30-16.50 Road Map of Renminbi Internationalisation, Shi Liya, Deputy Director General - RMB Cross-border Business Department, People's Bank of China Shanghai
16.50-17.10 The Rising Role of Offshore RMB Centres, Zhang Xinyuan, Global Trade Service, Bank of China Shanghai Branch
17.10-17.50 Q&A and Panel Discussion, moderated by Fredrik Hahnel, Vice Chair, Banking & Securities Working Group, European Chamber
17.50-18.00 Closing Remarks, European Chamber
Exclusive Media Partner