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>> CALIFORNIA Latest News

FEB 16, 2013 - San Francisco Chronicle

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SF seeks to be hub for Chinese currency

SF seeks to be hub for Chinese currency Should the idea bear fruit, San Francisco would join Hong Kong, London and Singapore as places where offshore trading in yuan (a.k.a. renminbi or RMB) is growing, as China slowly moves to open up its financial system. Other banks mentioned in connection with the initiative include Silicon Valley Bank, which entered into a joint venture with Shanghai Pudong Development Bank last year; EastWest Bank, a Chinese American bank in Los Angeles with branches throughout California and China; and Bank of Communications, China's fifth-largest bank, which ... Read More

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