Download CONFERENCE PARIS EUROPLACE IN HONG KONG :

CONFERENCE PARIS EUROPLACE IN HONG KONG :
THE PARIS FINANCIAL CENTER
IS A MAJOR EUROPEAN CORPORATE RMB HUB IN EUROPE
At the occasion of its 3rd International Financial Forum in Hong Kong last friday, Paris
EUROPLACE - the organisation promoting the Paris financial centre –has introduced
its strategy to contribute to the Renminbi (RMB) internationalisation and confirmed its
position as a major RMB hub in Europe.
A working grouphas been set up by Paris EUROPLACE, gathering the representatives of the
leading French and Chinese banks in Paris, with the support of the Banque de France and the
French Treasury, to define a comprehensive and precise road map to reach this strategic
priority.The road map was revealed last Friday in Hong Kong, where more than 350
people and 45 journalists visited the forum, organized by Europlace, in collaboration
withUbifrance, and the French consulate.
“Paris is keen on developing an offshore RMB market, underlined Christian NOYER,
Governor, Banque of France.The Paris financial centre has always been an innovative
place with a strong and internationalised banking sector. It presents numerous strengths to
become the main offshore RMB within the Eurozone. The French banks are some of the
most active in Asia by far. On top of that, many French corporations have already
demonstrated a keen interest in the RMB offshore market, both for financing and settling
their trade with China and for optimizing their cost of financing and investing in China as
trade settlement currency.”
Arnaud de BRESSON, CEO, Paris EUROPLACE stressed that as a consequence,
€urozone and France are today reconsidered as attractive investment areas, offering the
best investments opportunities to international investors, both for equities and credits. He
also stressed that “Paris is the European leader in the euro-securities debt market both in
the short term paper and the corporate bonds (35% of market issues ahead of London,
27%, and Germany, 10%), the 2nd largest asset management industry in the world”.
“Besides, 10% of the Sino-French trade is already settled in RMB” reflecting a growing
demand from “French corporates to use RMB to accompany their trades and investments
in Hong Kong and China, as well as to accompany their Chinese clients coming to
Europe”.
Paris Financial Center is the main gateway to euro zone markets, and the second most
popular location in Europe for foreign financial firms (500 banks and financial
institutions). (Source: Paris Europlace, 2012)
Following the forum, Paris EUROPLACE will conduct a series of concrete actions:
 To widen corporates, including SMEs, understanding of the opportunities offered by
the RMB internationalisation, and to contribute to a better understanding of the RMB
rules and practises,
 To promote the existing French and Chinese banks offers to French and European
corporates and investors,
 To reinforce the mobilization of French and European market players and Market
authorities to facilitate the development of the RMB internationalisation.
(From Paris Europlace Press Release and French Consulate in Hong Kong and Macau. For
more information on Paris Europlace: www.paris-europlace.net)