Premier, Consul General, Mr Chen, distinguished guests, colleagues, ladies and gentlemen, thank you for the invitation to say a few words on the occasion of the launch of the Bank of China (Sydney) as the official renminbi clearing bank here in Australia. Today's events mark an important step in the further development of a local renminbi – or RMB – market. But more than that, they mark one more step in a lengthy and very important journey that has seen the flowering of trade relations between China and Australia, and which promises benefits from the maturing of financial ties. On its own, the key direct benefit of ... (full story)