New Chapter for RMB in the Middle East
China’s push to internationalize the RMB gains momentum in the Middle East as UAE clearance banks clear over 900B yuan since 2016, with 864B in flows in the first nine months of 2025.
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RMB Overtakes Yen as 4th Leading Global Payment Currency
The Chinese Renminbi (RMB) has risen to become the fourth most active global payment currency in November, surpassing the Japanese yen with a 3.89% share, marking a 22.12% increase from October.
HSBC Joins CIPS, Accelerating RMB’s Global Reach
HSBC Hong Kong’s integration into China’s CIPS marks a significant step in the global expansion of the renminbi, enhancing international trade and financial transactions.
Standard Chartered CEO Highlights Growing Use of RMB in Global Trade
Standard Chartered CEO Bill Winters discusses the growing use of RMB in global trade and the need for further steps to facilitate its internationalization.
HKSAR to Enhance Integration with Mainland Capital Markets
HKSAR is set to play a larger role in opening mainland China’s capital market by optimizing connectivity schemes, promoting RMB internationalization, and encouraging more companies to list in Hong Kong.
RMB Internationalization Boosts Hong Kong to Global Financial Hub Status
Hong Kong is set to rival London and New York as a global financial hub, driven by the internationalization of the renminbi (RMB), according to Laurence Li at the 2024 Financial Street Forum.