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Glossary: Offshore Rmb centre

Photo: Rmb
Photo: Rmb

Offshore Rmb centre is a Rmb market outside China where non-mainland Chinese companies, institutions and residents can trade the currency and settle trade deals easily. Since 2004 when Rmb business was first launched in Hong Kong under the authorisation of the People's Bank of China (PBOC), expansion of the business has been fast in both scope and volume. With strong support from the Central People’s Government, Hong Kong has developed  as a major offshore Rmb centre.

 

Related country and region: China, Hong Kong

Related section: RMB Business

Related terms: Rmb internationalisation, Rmb trade settlement

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Content provided by Picture: HKTDC Research
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