Hong Kong has become the
world's first place to offer gold trading in yuan, cementing its status
as an offshore hub for the Chinese currency. The Chinese Gold & Silver Exchange Society (CGSE) said it
will offer offshore renminbi-denominated spot gold contracts to
investors.The move comes amid a push by Chinese authorities for a more international role for its currency.Hong Kong is the world's third-largest gold trading centre."By attracting both local and international investors, the
Renminbi Kilobar Gold is a significant step towards internationalizing
the renminbi," said Haywood Cheung, president of CGSE.
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