Hong Kong's Rmb RTGS system supports its role as global Rmb clearing and settlement platform
Hong Kong handles 84.6% of offshore Rmb trade settlements, with demand for offshore Rmb financing and investments on the rise.
Hong Kong, the leading offshore renminbi (Rmb) business centre, may not be much affected by the recent developments in offshore Rmb business in London, Singapore and Taiwan due to the continued maturity of its offshore Rmb business and the support of the Chinese government.
Cross-border Rmb trade settlement handled in Hong Kong has seen tremendous growth with the expansion of the Rmb cross-border trade settlement pilot scheme launched in June 2009, which strengthened the role of Hong Kong serving both local and overseas banks and companies. As at…
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Categories: Asian Banker 500
, Cash, Treasury & Trade
, Hong Kong
, Transaction Banking
, Dim Sum Bonds