1. Dragon on the March
China is questioning the US-Dollar and vigorously driving the
internationalization of its own currency, the Renminbi
 The issuance of bonds in Hong Kong is starting to establish the „Yuan“ as an investment currency
– Swap agreements are preparing the ground for a global spread – RMB is informally convertible in
almost all countries bordering China – Chief economist at China´s largest investment bank expects
full internationalization and convertibility within 10 years
Currency Swap Agreement Partners in 2009
In Billion Yuan – 1 € is 10.145 RMB
Issuer RMB Period /
(all in 2009) Billion Years
180 South Korea
Hong Kong Bank of East 1 2
200
Asia
80 Malaysia China 3 2
20 Belarus Development
Bank
100 Indonesia
HSBC 2 2
70 Argentina Ministry of 6 2-5
Finance
Nov. 10, 2009
GAPA NEWS