Hong Kong SAR Retains 4th Spot in Global FX; Offshore Renminbi Trading Surges
BIS survey shows Hong Kong SAR remains the world’s fourth‐largest FX hub, with daily FX turnover up 27.2% to $883.1B and offshore Renminbi trading up 64.8%.
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Chinese Mainland’s Cross-Border Flows Hit Record $7.6T in H1
The Chinese mainland’s non-banking cross-border flows reached $7.6T in H1, with 53% in RMB and a $127.3B net inflow, marking a record high.
StanChart CEO Highlights Global Payments Evolution at Sibos 2024 in Beijing
StanChart CEO Bill Winters shares insights on the future of global payments and the rise of the Chinese renminbi at Sibos 2024 in Beijing.
PBOC Governor Advocates Balanced Monetary Policy Adjustments
PBOC Governor Pan Gongsheng emphasizes balanced monetary policy adjustments to ensure stable price recovery and a steady renminbi exchange rate.
Chinese Yuan Gains Traction as Global Currency, Experts Say
The Chinese mainland’s renminbi is gaining prominence in global currency payments, reflecting China’s growing economic influence and reshaping international finance.