Hong Kong Exchanges and Clearing and the London Metal Exchange have reached an understanding with Bank of China regarding methods for allowing Chinese investors access to the LME, as well as ways in which HKEx could develop products denominated in renminbi. "The [memorandum of understanding] entered into ... marks the beginning of our collaboration to examine the feasibility of LME contracts to be cleared in RMB and potential development of RMB-denominated commodity products in the HKEx group platforms," said HKEx CEO Charles Li.

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