Investing in Asian Offshore Currency Markets ― The Shift from Dollars to Renminbi

The terms "Eurodollar" and "Eurocurrency" were widely used in the 1970s, a time when the US dollar was prevalently traded in Europe. Later, the Eurodollar market was extended to Asia, especially Singapore and Hong Kong, and to cover a wider range of non-local currencies. But international markets have changed, with Renminbi set to become the world's dominant offshore currency. Leading bankers, analysts, bank supervisors, economists, journalists, professors, and lawyers contributed to Investing in Asian Offshore Currency Markets, exploring various issues regarding offshore currency markets in Asia, and especially the challenges and issues in building the offshore market for Renminbi.

MICHAEL WONG is the founder and chairman of CTRISKS, one of the five licensed credit ratings agencies in Hong Kong, and a professor at City University of Hong Kong. He served as a founding member of the FRM Committee of Global Association of Risk Professionals (GARP) from 1998-2002, helped develop the examination to be a global standard on risk management education, and trained 6,000+ chief risk officers, senior risk managers, and bank regulators in Asia. In 2004-2010, he created risk management systems for many banks, including the first five successful Basel-standard IRB system in Hong Kong. Michael has published more than 40 journal articles and authored/co-authored more than 10 professional books. He graduated from Chinese University of Hong Kong, University of Essex, and University of Cambridge.

WILSON CHAN was the founding Treasurer of the Industrial and Commercial Bank of China (ICBC) in Hong Kong and founding Executive Board Member of the Treasury Markets Association (TMA). He has been working in financial markets for over 30 years and served as the Honorable Secretary of ACI, Hong Kong Financial Markets Association for more than ten years. Wilson was also an Assistant General Manager of Shanghai Commercial Bank. In addition to his three Masters degrees, he obtained his DBA degree from City University of Hong Kong, where he is currently serving as an Adjunct Professor on the University's MBA program. Wilson was an editor of the Chinese version of the Model Code for financial markets and the author of the book Bond Investment published by the Hong Kong Economic Times.