Renminbi (RMB)/Yuan Appreciation & Internationalization
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The People's Bank of China will promote the cross-border use of the RMB
The reporter was informed by the People's Bank of China (PBC) on February 20 that in 2025, the PBC will promote the cross-border use of RMB, enhance the functions of cross-border payment, valuation, investment and financing, and further promote the facilitation of trade investment and financing.
The PBC's recent 2025 Macroprudential Work Conference proposed that it will develop the RMB offshore market, play the role of currency swaps and RMB clearing banks, accelerate the construction of the Shanghai International Financial Center, and consolidate and enhance Hong Kong's position as an international financial center.
Information from the conference showed that by the end of 2024, the RMB ranked as the world's fourth payment currency and the third trade financing currency, and the internationalization level of the RMB was steadily increasing.
In addition, the People's Bank of China (PBC) said that in 2025, it will explore the expansion of the central bank's macro-prudential and financial stability functions, improve the macro-prudential policy system, and innovate macro-prudential policy tools. It will improve real estate financial management, help the real estate market stop falling and stabilize, and support the construction of a new model of real estate development.
The reporter was informed by the People's Bank of China (PBC) on February 20 that in 2025, the PBC will promote the cross-border use of RMB, enhance the functions of cross-border payment, valuation, investment and financing, and further promote the facilitation of trade investment and financing.
The PBC's recent 2025 Macroprudential Work Conference proposed that it will develop the RMB offshore market, play the role of currency swaps and RMB clearing banks, accelerate the construction of the Shanghai International Financial Center, and consolidate and enhance Hong Kong's position as an international financial center.
Information from the conference showed that by the end of 2024, the RMB ranked as the world's fourth payment currency and the third trade financing currency, and the internationalization level of the RMB was steadily increasing.
In addition, the People's Bank of China (PBC) said that in 2025, it will explore the expansion of the central bank's macro-prudential and financial stability functions, improve the macro-prudential policy system, and innovate macro-prudential policy tools. It will improve real estate financial management, help the real estate market stop falling and stabilize, and support the construction of a new model of real estate development.
China issues first overseas RMB-denominated sovereign green bond in London
Source: XinhuaEditor: huaxia
2025-04-03 19:42:30
BEIJING, April 3 (Xinhua) -- China issued its first-ever overseas RMB-denominated sovereign green bond in London on April 2 London Time, China's Ministry of Finance said on Thursday.
The deal totals 6 billion yuan (about 833.33 million U.S. dollars), including 3 billion yuan for a three-year term with an interest rate of 1.88 percent, and 3 billion yuan for a five-year term at an interest rate of 1.93 percent. Both rates are lower than the yields on comparable treasury bonds in the Hong Kong Special Administrative Region secondary market.
Notably, the London offering spurred strong demand from international investors -- drawing a diverse range of participants across various regions. Total subscriptions hit 41.58 billion yuan, 6.9 times the issuance value.
ASEAN+China, Japan, and South Korea Add Yuan to Currency Swap Network
(Yicai) April 11 -- The regional currency swap network of the 10 Association of Southeast Asian Nations, along with China, Japan, and South Korea, has approved the addition of the Chinese yuan as a funding currency.
Xuan Changneng, deputy governor of the People’s Bank of China, joined other finance and central bank deputies at the recent ASEAN+3 (China, Japan, and South Korea) meeting in Kuala Lumpur, Malaysia, where they formalized the use of renminbi contributions under the Chiang Mai Initiative Multilateralization, the PBOC announced on its website today.
(Yicai) April 11 -- The regional currency swap network of the 10 Association of Southeast Asian Nations, along with China, Japan, and South Korea, has approved the addition of the Chinese yuan as a funding currency.
Xuan Changneng, deputy governor of the People’s Bank of China, joined other finance and central bank deputies at the recent ASEAN+3 (China, Japan, and South Korea) meeting in Kuala Lumpur, Malaysia, where they formalized the use of renminbi contributions under the Chiang Mai Initiative Multilateralization, the PBOC announced on its website today.
China’s yuan sees payment popularity rise amid ‘soaring volatility’ in US Treasury market
Washington’s policies seen opening door to greater yuan internationalisation, undermining but not removing US dollar’s dominance in global trade
Renmin University’s findings for the yuan’s internationalisation in the final quarter of 2024 show consistency with the results from the first three quarters – the percentage of enterprises planning to increase yuan settlements rose from about 21.5 per cent in the second quarter to about 23 per cent in the fourth quarter, and further increased to nearly 24 per cent for the first quarter of this year.
About 68 per cent of surveyed enterprises said they were using the yuan for cross-border trade settlements, while 53 per cent were using the currency for foreign exchange trading.
