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“Switzerland plans to bid to become an offshore yuan trading center in Europe formerly/http://topics.bloomberg.com/europe/, competing with Frankfurt and London to corner trade in the Chinese currency. ‘It is in Swiss interest to have a renminbi hub in the center of Europe,’ Economy Minister Johann Schneider-Ammann said in Beijing yesterday after signing a free trade agreement with Chinese Commerce Minister Gao Hucheng. While no official talks have taken place, Schneider-Ammann said he hopes the idea will become ‘more serious’ in the coming weeks or months.”

http://www.bloomberg.com/news/2013-07-06/switzerland-will-join-race-to-be-trading-hub-for-china-s-yuan.html