Why invest in the renminbi

CHINA

Helen Lam, manager of the Allianz RCM Renminbi Currency fund, argues the case for one of the world's most undervalued currencies.

Before July 2010 it was next to impossible for companies, institutions and non-Hong Kong residents to access the burgeoning market for the offshore Chinese currency. After reforms last July, it became possible for qualified institutions, investors and certain companies to have access to the interbank market for the offshore renminbi (RMB). The Chinese government and the Hong Kong Monetary Authority announced a wide-ranging set of reforms that position Hong Kong as the centre for international trade settlement and investment for RMB. This means China’s exporters can settle their tra...