|China Responds To Vietnam’s Trading Ban By Opening Its First FX Trading Center|
China opens pan-Asian FX trading center in radical response to Vietnam's outlawing of retail FX trading, representing the first FX trading center on the mainland.
The recent banning of trading floors in Vietnam could therefore provide a basis for Chinese FX firms to establish themselves, and accrue clients from Vietnam. Whether the establishment of the new ASEAN Currency Business Center will extend its services to mainland China is yet unknown, however in order to do so, it would be faced with the challenge of diverting China's astute retail trader base away from coveted Western firms for which Chinese traders have a preference, regardless of the government-imposed difficulties presented to them.
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Published on our website on April 29, 2014