London’s rise as an offshore RMB financial centre: state-finance relations and selective institutional adaptation
China’s currency, the Renminbi (RMB), is increasingly important in global financial markets, facilitated by the global expansion of offshore RMB centres. This paper examines London’s development as the first Western offshore RMB centre established in 2013, drawing on original research conducted betw...
| Main Authors: | , |
|---|---|
| Format: | Article |
| Published: |
Taylor and Francis
2018
|
| Online Access: | https://eprints.nottingham.ac.uk/40464/ |
| _version_ | 1848796063457083392 |
|---|---|
| author | Töpfer, Laura-Marie Hall, Sarah |
| author_facet | Töpfer, Laura-Marie Hall, Sarah |
| author_sort | Töpfer, Laura-Marie |
| building | Nottingham Research Data Repository |
| collection | Online Access |
| description | China’s currency, the Renminbi (RMB), is increasingly important in global financial markets, facilitated by the global expansion of offshore RMB centres. This paper examines London’s development as the first Western offshore RMB centre established in 2013, drawing on original research conducted between 2013 and 2015 in London and China. The longitudinal analysis reveals that the development of RMB finance in London is characterised by selective adaptation in which state-private bargaining dynamics have shifted from strategic alignment to a bifurcation of interests. Understanding these state-finance relations has important implications for research and policymaking concerned with (offshore) financial centres and RMB internationalisation. |
| first_indexed | 2025-11-14T19:42:01Z |
| format | Article |
| id | nottingham-40464 |
| institution | University of Nottingham Malaysia Campus |
| institution_category | Local University |
| last_indexed | 2025-11-14T19:42:01Z |
| publishDate | 2018 |
| publisher | Taylor and Francis |
| recordtype | eprints |
| repository_type | Digital Repository |
| spelling | nottingham-404642020-05-04T19:48:15Z https://eprints.nottingham.ac.uk/40464/ London’s rise as an offshore RMB financial centre: state-finance relations and selective institutional adaptation Töpfer, Laura-Marie Hall, Sarah China’s currency, the Renminbi (RMB), is increasingly important in global financial markets, facilitated by the global expansion of offshore RMB centres. This paper examines London’s development as the first Western offshore RMB centre established in 2013, drawing on original research conducted between 2013 and 2015 in London and China. The longitudinal analysis reveals that the development of RMB finance in London is characterised by selective adaptation in which state-private bargaining dynamics have shifted from strategic alignment to a bifurcation of interests. Understanding these state-finance relations has important implications for research and policymaking concerned with (offshore) financial centres and RMB internationalisation. Taylor and Francis 2018-08-01 Article PeerReviewed Töpfer, Laura-Marie and Hall, Sarah (2018) London’s rise as an offshore RMB financial centre: state-finance relations and selective institutional adaptation. Regional Studies, 52 (8). pp. 1053-1064. ISSN 1360-0591 http://www.tandfonline.com/doi/full/10.1080/00343404.2016.1275538 doi:10.1080/00343404.2016.1275538 doi:10.1080/00343404.2016.1275538 |
| spellingShingle | Töpfer, Laura-Marie Hall, Sarah London’s rise as an offshore RMB financial centre: state-finance relations and selective institutional adaptation |
| title | London’s rise as an offshore RMB financial centre: state-finance relations and selective institutional adaptation |
| title_full | London’s rise as an offshore RMB financial centre: state-finance relations and selective institutional adaptation |
| title_fullStr | London’s rise as an offshore RMB financial centre: state-finance relations and selective institutional adaptation |
| title_full_unstemmed | London’s rise as an offshore RMB financial centre: state-finance relations and selective institutional adaptation |
| title_short | London’s rise as an offshore RMB financial centre: state-finance relations and selective institutional adaptation |
| title_sort | london’s rise as an offshore rmb financial centre: state-finance relations and selective institutional adaptation |
| url | https://eprints.nottingham.ac.uk/40464/ https://eprints.nottingham.ac.uk/40464/ https://eprints.nottingham.ac.uk/40464/ |