The opening of Renminbi (RMB) clearing banks in Europe highlights the increasingly expected use of the RMB in the region and potential in global financial market, rating agency Dagong Europe said in a recent report.
The International Monetary Fund (IMF) is conducting a comprehensive assessment over the Chinese currency, or RMB, in its special drawing right (SDR) review to decide whether the currency will be included in the SDR currency basket or not, Zhu Min, deputy managing director of the IMF, said here on Sunday.
London Stock Exchange (LSE) Wednesday announced that it welcomed the first London listed Renminbi (RMB) dominated money market Exchange Traded Fund (ETF) - - "Commerzbank CCBI RQFII Money Market UCITS ETF" to be traded on the bourse.
The renminbi (RMB) clearing bank in Canada, ICBC Canada, was officially launched here on Monday evening. This is the first RMB trading hub in North America and in the western hemisphere.
The board of International Monetary Fund (IMF) will reexamine the international use of yuan or Renminbi (RMB), the Chinese currency, when it reviews the currencies in the basket of the Special Drawing Rights (SDRs) later this year, the organization's spokesman Gerry Rice said Thursday.
The RMB trade settlement conducted through Hong Kong banks amounted to 6.3 trillion yuan ( one trillion U.S. dollars) in 2014, rising 60 percent from a year ago, Hong Kong's Financial Secretary John Tsang said here on Wednesday.
China's onshore and offshore RMB bond markets will expand and diversify in 2015, as the Chinese currency gains more global clout, Moody's Investors Service forecast on Thursday.
The Chinese yuan has overtaken the Canadian and Australian dollars since November 2014 to enter the top five world payments currencies, said SWIFT in a recent report.
The internationalization process of China's currency has made a new stride forward during the ongoing World Economic Forum annual meeting, with Beijing and Bern inking a deal to expand financial cooperation.
The 13th Osaka Business Networking Club Networking Event was held in the city of Osaka Thursday, with Chinese banks participating and promoting RMB business to dozens of Japanese enterprises.
Taiwan is in a good position to establish an offshore Renminbi (RMB) center, given its close economic ties with the mainland and ballooning yuan deposits, a mainland banker said Tuesday.
Taiwan's monetary authorities will launch daily reference rates for yuan circulated on the island starting from Sept. 1, in a major step for the island's progress as an important offshore RMB center.
New figures from Swift RMB tracker show that RMB payments through London have increased by 123 percent in just one year.
Cross-border cash transfer of the renminbi(RMB) between China and Singapore began on Wednesday in Guangzhou.
China's central bank announced on Thursday that it had authorized the Bank of China (BOC) as clearing bank for RMB business in Frankfurt.
The People's Bank of China (PBoC) announced on Wednesday morning that the China Construction Bank (CCB) will become a clearing bank of the RMB business in London.
The Monetary Authority of Singapore will introduce a facility to provide up to 5 billion renminbi (805 million U.S. dollars) in overnight liquidity to financial institutions in Singapore, it said on Friday.
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