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Renminbi (RMB) - Articles and news items

Renminbi adoption is on the rise in South Africa

Treasury news / 29 July 2015 / SWIFT

SWIFT’s RMB Tracker shows that the Chinese currency now accounts for more than 30% of payments between South Africa and Greater China…

RBC completes first cross-border payment on Canada’s new Renminbi (RMB) Trading Hub

Treasury news / 15 April 2015 / Royal Bank of Canada

Royal Bank of Canada announced the completion of the first cross-border Renminbi (RMB) payment on Canada’s new RMB Trading Hub through the hub’s designated clearing bank, Industrial & Commercial Bank of China (Canada)…

RMB internationalisation is increasingly fuelled by offshore countries beyond Hong Kong

Currency news, Treasury news / 30 March 2015 / SWIFT

SWIFT’s RMB Tracker shows that offshore countries, excluding Hong Kong, represent 25% of RMB payments compared to 17% two years ago…

RMB strengthens its position as the second most used currency for documentary credit transactions

Currency news / 26 February 2015 / SWIFT

SWIFT RMB Tracker shows RMB’s activity share for documentary credit transactions increased to 9.43% in January 2015…

RMB breaks into the top five as a world payments currency

Currency news / 28 January 2015 / Cognito

According to SWIFT data, the Chinese yuan overtook the Canadian and Australian dollar as a global payments currency in November 2014, and now takes position behind the Japanese Yen, British pound, Euro and US dollar…

50 countries are now using the RMB for more than 10% of their payments value with China and Hong Kong

Currency news / 26 November 2014 / SWIFT

According to SWIFT data, RMB is now used for 11.2% of total payments value with China and Hong Kong, up from 6.2% 18 months ago…

Yuan to watch: why to eye the RMB

November 2014 / 13 November 2014 / Evan Goldstein, Deutsche Bank

Evan Goldstein, Global Head of Renminbi Solutions, Deutsche Bank, examines how the relative newcomer, the Chinese yuan or renminbi (RMB), has soared to great heights and explains how companies that leverage its potential can grow with it…

RMB reaches record levels of payments activity between offshore centres

Currency news, News / 30 October 2014 / SWIFT

According to SWIFT data, RMB activity share for international payments between offshore trading centres increased to 3.25% in September…

Could the renminbi become number ‘yuan’?

Blog / 28 October 2014 / Kok-Keong Tay, Head of GTB Asia at UniCredit

The US dollar has long occupied pole position in the international currency system, but could China’s renminbi grow to challenge the established hierarchy?…

Renminbi : the dragon has stirred

October 2014 / 6 October 2014 / Peter Garnham, Editor, FX-MM

Short-term worries over the Chinese economy should not cloud the fact that Beijing’s gradual, long-term aim of increasing the international usage of the renminbi and reducing the country’s reliance on the dollar. As, FX-MM’s Peter Garnham writes, the journey to full convertibility may be shorter than many think…

European hubs are fuelling RMB Internationalisation

Trading news / 26 August 2014 / SWIFT

SWIFT’s latest RMB Tracker shows that Europe represents 10% of Renminbi payments worldwide in value…

The Renminbi is the second most used currency for cross border payments with China and Hong Kong

Currency news / 26 June 2014 / SWIFT

SWIFT’s RMB Tracker shows a steady rise in the use of the RMB by all regions when doing business with China and Hong Kong…

Sonepar and RBS completes the first RMB Cross-border Cash Pooling in Shanghai Free Trade

News, Treasury news / 4 June 2014 / RBS

Sonepar has become the first French company to implement two-way RMB Cross-border Cash Pooling in the Shanghai Free Trade Zone (FTZ)

The United States jumps ahead of Taiwan as an offshore RMB clearing centre

News, Treasury news / 3 June 2014 / SWIFT

SWIFT’s RMB Tracker shows that United States’ RMB payments value increased by 327% between April 2013 and April 2014, placing the United States at #3 in the world for RMB payments value, excluding China and Hong Kong.

Renminbi Internationalisation: Yuan small step for man, yuan giant leap for treasury

May 2014 / 12 May 2014 / Stefan Harfich, head of bank relations APAC at Siemens' regional treasury centre in Hong Kong

The ongoing internationalisation of China’s currency and liberalisation of its cross-border trade presents multinational corporations with a major opportunity to not only add significant value to their global treasury operations but also to reduce transaction costs for the business, writes Stefan Harfich, head of bank relations APAC at Siemens’ regional treasury centre in Hong Kong…