CHICAGO, Feb. 25, 2013 /PRNewswire/ -- As China's economy becomes increasingly integrated with the rest of the world, it is a natural trend for its currency, the renminbi (RMB), to be more widely used in trade and investment. However, RMB in China has traditionally been a closed market with strict capital controls where currencies could not be delivered offshore. That has changed in recent years. In 2010, China launched a pilot program for RMB trade settlement through banks in Hong Kong. The Chinese government has a publicly stated ambition of internationalizing the RMB and putting RMB on track to be one of the world's reserve currencies. The introduction of off shore renminbi (CNH) is one of the major steps taken by the Chinese government in this direction.
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About CME GroupAs the world's leading and most diverse derivatives marketplace, CME Group ( www.cmegroup.com) is where the world comes to manage risk. CME Group exchanges offer the widest range of global benchmark products across all major asset classes, including futures and options based on interest rates, equity indexes, foreign exchange, energy, agricultural commodities, metals, weather and real estate. CME Group brings buyers and sellers together through its CME Globex ® electronic trading platform and its trading facilities in New York and Chicago. CME Group also operates CME Clearing, one of the world's leading central counterparty clearing providers, which offers clearing and settlement services across asset classes for exchange-traded contracts and over-the-counter derivatives transactions. These products and services ensure that businesses everywhere can substantially mitigate counterparty credit risk. CME Group is a trademark of CME Group Inc. The Globe Logo, CME, Globex and Chicago Mercantile Exchange are trademarks of Chicago Mercantile Exchange Inc. CBOT and the Chicago Board of Trade are trademarks of the Board of Trade of the City of Chicago, Inc. NYMEX, New York Mercantile Exchange and ClearPort are registered trademarks of New York Mercantile Exchange, Inc. COMEX is a trademark of Commodity Exchange, Inc. KCBOT, KCBT and Kansas City Board of Trade are trademarks of The Board of Trade of Kansas City, Missouri, Inc. All other trademarks are the property of their respective owners. Further information about CME Group (NASDAQ: CME) and its products can be found at www.cmegroup.com. SOURCE CME Group
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