Internationalisation of the Chinese currency
Over the past four years, China has strongly intensified its efforts to promote the internationalisation of the RMB (CNY), which has become one of the main aspects of the country’s economic policy as expressed in the 12th Five-Year Plan (2011–15). The plan specifically supports the expansion of the cross-border use of RMB and the gradual realisation of RMB capital account convertibility.
Furthermore, the plan supports the development of Hong Kong as a major offshore RMB market.
The internationalisation process of the country was put into effect through three different instruments: bilateral currency swap agreements with other countries; a pilot programme for the regulation of trade with foreign countries, started in 2009 and gradually expanded, according to the usual approach of Chinese government; and the introduction of measures to increase operations in RMB in Hong Kong, which currently is the main centre for offshore operations using the Chinese currency…
If you are registered and logged in to the site, click on the link below to read the rest of the NCTM briefing. If not, please register or sign in with your details below.
News from NCTM
Briefings from NCTM
One of the EPO Boards of Appeal has ruled on the highly debated issue of human stem cell patentability under the European Patent Convention.
On 7 February 2014, the European Court of Justice (Case 98-13) issued a ruling pertaining to the interpretation of Council Regulation (EC) no. 1383/2003.
Analysis from The Lawyer
Being sent to London on secondment is a prized opportunity for associates in European firms