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Private banking clients eye renminbi products with launch of new China-backed investment bank

The recently sealed deal on the Beijing-based Asian Infrastructure Investment Bank will have a positive effect on the appetite for renminbi-denominated products among Hong Kong’s high net worth individuals (HNWIs), says a Hong Kong-based head of investment products and advisory. “We’re seeing more demand for RMB-denominated mutual funds off the back of the recent inauguration of the Asian Infrastructure Investment…

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