Trading with China: The Rise of Offshore Renminbi Business Report
MELBOURNE, February 2011 — The report released by ANZ and the Asia Society, Trading with China: The Rise of Offshore Renminbi, highlights opportunities for business with the internationalization of Chinese renminbi. Australian and New Zealand businesses need to position themselves for new opportunities associated with the Chinese renminbi (RMB) as it transitions to an international currency, including the recent development of an offshore RMB market in Hong Kong.
"Given the significance of Australia's economic relationship with China, the internationalization of the RMB is of critical significance to Australia and to Australian business," commented Asia Society AustralAsia Centre's Chairman Sid Myer.