Dubai should seek to become an offshore trade centre for the Chinese currency as Beijing slowly loosens its grip on the yuan, says HSBC.
As an international financial centre, the emirate needs to follow Hong Kong in becoming an overseas yuan trading hub, said Bruce Alter, the head of trade at HSBC in China.
"London is going to be next and my view is that Dubai should be not that far behind," he said at a conference in Dubai yesterday.
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