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.
