According to SWIFT’s latest RMB tracker, the United Kingdom has become the second largest offshore RMB clearing centre, as the UK's RMB payments value rose by 21% between March 2014 and March 2016. The United Kingdom lags behind Hong Kong in the ranking. Singapore overtook the United Kingdom in February 2014, but the trend began…
Read moreThe internationalization of the Chinese currency keeps gathering pace, as the United Arab Emirates (UAE) and China have signed an agreement to establish a clearing hub for the Chinese Yuan or Renminbi, Xinhua reported on Sunday referring to UAE media sources. This will be the second RMB clearing hub in the Middle East after Qatar launched the…
Read moreLaunching today, the indicative quotes aim at increasing the price transparency for RMB-denominated institutional bonds issued in Hong Kong by the Ministry of Finance of the People’s Republic of China
Read moreIndustrial and Commercial Bank of China's Doha branch was appointed as the clearing bank for yuan deals in an agreement signed in November 2014. Since 2011, China has appointed clearing banks for Taiwan, Singapore, London, Frankfurt, Paris, Luxembourg, Seoul and Toronto.
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