18 Pages Posted: 16 Jun 2012
Date Written: June 15, 2012
At a summit meeting in December 2011, China and Japan agreed to improve cooperation on developing their financial markets. The agreement covers the settlement of cross-border trade and investment using the two currencies, the direct exchange of the two currencies, the purchase of Chinese government bonds by the Japanese government, and the development of financial products denominated in the two currencies. Although the agreement should be seen against a backdrop of international competition over offshore renminbi markets, it presents Japan's private sector with new opportunities to raise and invest renminbi funds.
Keywords: China, renminbi, offshore renminbi market, dim sum bonds, QFII
JEL Classification: F34, F42, G15, G18, G28, G32, G38, H63
Suggested Citation: Suggested Citation
Sekine, Eiichi, The Start of a New Age of Sino-Japanese Financial Cooperation as a Result of the December 2011 Sino-Japanese Summit (June 15, 2012). Nomura Journal of Capital Markets, Vol. 3, No. 4, 2012. Available at SSRN: https://ssrn.com/abstract=2084632