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Heard on the street: Hong Kong’s yuan cap lift to create huge demand for renminbi-denominated products

Since the Hong Kong Monetary Authority chief’s October visit to Beijing to request the removal of Hong Kong’s RMB20,000 (US$3,283) daily conversion limit, private banks have been anticipating a surging demand for renminbi-denominated investments. Multiple heads of advisory suggest the Chinese currency will become a significant focus of product development. Some clients have already demonstrated willingness to both deploy existing CNH…

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