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Yuan Shifts Into Currency Major League

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Yuan offshore trading seen growing strongly again in 2015

After a surge in interest last year, China's yuan is heading for the currency major league, with trading volumes more comparable to the euro, sterling, Australian dollar and Swiss franc than its emerging market peers. Offshore trading in the yuan, whose convertibility is still tightly controlled by Beijing, soared some 350 percent on Thomson Reuters trading platforms in 2014. Deutsche Bank, the world's second largest trader of currencies and the heart of the market in Europe, expects robust growth in trading volumes on the back of more offshore clearing centres and greater access to more yuan-denominated investments in 2015, predicting full convertibility in 2020.

"You can talk about China as an emerging market if you want but for most people it has just become too big to ignore."

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