Renminbi Trade Settlement as a Catalyst to Hong Kong's Development as an Offshore Renminbi Center

Renminbi settlement has become the preferred mode of settlement for mainland Chinese imports, with most of the imports settled this way coming from Hong Kong. As a result, renminbi deposits in Hong Kong have increased sharply, as has the issuance of dim sum bonds. It will be interesting to see what routes are opened up to enable this money to find its way back from Hong Kong's offshore renminbi market to the mainland and whether Japanese companies take advantage of the market to issue dim sum bonds