Swiss Banks Push for Zurich to Become Yuan Trading Center
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Swiss banks are pushing for Zurich to become a center for yuan trading in Europe as China seeks to take its currency global.
"Switzerland is already a hub for the renminbi, but we need to add to the infrastructure to strengthen that notion even more," Heinrich Siegmann of the Swiss Bankers Association said at a briefing in Zurich, referring to another term for the yuan. "We have government support to becoming a hub, we have investments in renminbi bonds, and we have trading of these bonds."