2010 · Offshore RMB Market Era · Offshore Chinese Yuan

Wei

Same blood as her sister, raised outside the walls — and far more willing to tell you the truth.

Wei

Museum objects

0 shown · 5 cited but not shown. An image only appears here if it is openly licensed and confirmed to depict the object we claim. Otherwise we cite it and link you to the museum — we would rather show you nothing than show you the wrong thing.

◈
HKMA press release 20100719-4
Hong Kong Monetary Authority
no openly-licensed image yet — cited, not shown
View it at the museum ↗

HKMA Official 2010 Press Release

Hong Kong Monetary Authority · HKMA press release 20100719-4 · July 19, 2010
The Hong Kong Monetary Authority's official announcement establishing the formal offshore RMB trade settlement market.
This press release is Wei's actual birth certificate — the day she was allowed to exist outside the walls that keep her sister, Mei, so carefully controlled.
open licenceHong Kong Monetary Authority — government pu view at museum ↗
◈
HKMA insight 20140218
Hong Kong Monetary Authority
no openly-licensed image yet — cited, not shown
View it at the museum ↗

HKMA 'Hong Kong as Offshore Renminbi Centre' Retrospective

Hong Kong Monetary Authority · HKMA insight 20140218 · 2014
A retrospective analysis by the HKMA on Hong Kong's development as the world's leading offshore renminbi trading hub.
Four years after she was born, this document proves Wei had already made herself indispensable — the market's preferred way to bet on China without China's rules.
open licenceHong Kong Monetary Authority — government pu view at museum ↗
◈
BIS working paper 492
Bank for International Settlements
no openly-licensed image yet — cited, not shown
View it at the museum ↗

BIS Working Paper: CNH-CNY Pricing Dynamics

Bank for International Settlements · BIS working paper 492 · 2015
A Bank for International Settlements research paper analyzing the price relationship between onshore and offshore renminbi.
Economists needed an entire research paper just to explain how two currencies with the same name can have two different prices — that's basically Wei's whole complicated relationship with her sister in one document.
open licenceBank for International Settlements — open ac view at museum ↗
◈
Hong Kong skyline reference
Referenced via public photography archives
no openly-licensed image yet — cited, not shown
View it at the museum ↗

Victoria Harbour / IFC Financial District Photographs

Referenced via public photography archives · Hong Kong skyline reference · Contemporary
Photographs of Hong Kong's financial district skyline, home to the institutions that trade and manage the offshore renminbi market.
This skyline is Wei's home turf — a place built specifically to let money move more freely than it's allowed to on the mainland.
licence unruledCreative Commons Attribution-ShareAlike 4.0 view at museum ↗
◈
National Security Law 2020
Referenced via Wikipedia / legal archives
image failed verification (wrong object) — cited, not shown
View it at the museum ↗

2020 Hong Kong National Security Law Documentation

Referenced via Wikipedia / legal archives · National Security Law 2020 · 2020
The controversial law imposed by Beijing on Hong Kong, raising questions about the territory's financial autonomy.
For the first time since her birth, Wei's whole reason for existing — being separate from the mainland's rules — came under real threat.
licence unruledCreative Commons Attribution-ShareAlike 4.0 view at museum ↗

Primary sources

The documents themselves. We link and quote — that is citation, and it needs no licence.

Where this money travelled

Wei was born in Hong Kong's unique financial autonomy, growing from personal RMB services in 2003 into a full offshore trading market by 2010.

Hong Kong (HKMA)22.2793, 114.1628
Victoria Harbour22.2908, 114.1725
IFC / HSBC Building22.2849, 114.1583
Bank of China Tower22.2793, 114.1600
Shanghai (onshore RMB)31.2304, 121.4737

What we don't know

The page no competitor will build.

Previous← Niko Valdez · 2020 NextHiro Cipher · 2009 →