"We should let the market decide the price by improving the system and reducing government interference."

Xu Kunlin, newly appointed head of the pricing department at the National Development and Reform Commission, said the government will further streamline the approval process and improve supervision systems to prevent corruption.

"Our relationship with other offshore yuan centers is a mutually beneficial one as we intend to jointly grow the pie of yuan business."

Chan Tak-lam, chief executive of the Hong Kong Monetary Authority. He said he expects financial institutions in Hong Kong to introduce more yuan-denominated products to meet investor demand for the yuan.

"We believe that wealth management should become a crucial part of deepening reform of the financial system."

Zhuang Yumin, a professor with the school of finance at Renmin University. Wealth management service providers must increase their Chinese product offerings as demand continues to rise, she says.

(China Daily European Weekly 12/05/2014 page18)