Clearstream focus on China

Clearstream says in its most recent monthly report that it is working on several initiatives in order to support the opening of the Chinese capital markets. Says Jeffrey Tessler, chairman and member of the Deutsche Börse Executive Board: “I think it’s clear that we’re currently in the midst of a rare convergence of both internal reform of the onshore Chinese market and international recognition of the importance of the RMB.”

Signs of this recognition include the International Monetary Fund’s decision to include the Chinese currency in the Special Drawing Rights reserve currency basket. Its weighting of 10.92 percent is the third-highest after the US dollar and the euro and as a consequence central banks and other investors are expected to shift parts of their assets to China, he suggests.