Noyer said the launch of such a facility will encourage use of the yuan in the eurozone as a trade settlement currency as well as an investment currency.
The bank of China agree with the bank of France can change RMB to Euro. If they do this, France can boost market confidence in the Chinese currency by reassuring market participants that yuan liquidity will remain available, even in extreme situations. Both of them can get profit. So the bank of China agree this suggest. The Paris branch of Bank of China has seen its cross-border yuan settlement reach 170 billion yuan, the largest amount of all BOC branches outside the Chinese mainland exceptHongKong. It is a big number.
De Bresson added: "The internationalization of the yuan is a key opportunity for market players and international corporates in France. It is an irreversible trend that the demand for RMB-denominated products will increase at a faster pace in coming years."
De Bresson said the main challenge for Paris to develop its yuan trading market is to widen the understanding and opportunities offered by internationalization of the currency, and full convertibility will help contribute to the process.