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Renminbi (RMB) Internationalisation
Why is RMB moving from potential to practicality
RMB allocations are becoming more structural within asset classes, and its role is broadening across settlement, investment and financing.
RMB as a diversifier
66%
of institutions surveyed allocated to RMB assets for diversification purposes
Digital RMB
48%
of institutions surveyed expect to benefit from cross-border payments and settlements via digital yuan or e-CNY
HSBC’s ambition is to be an agent of trust. We invite you to join us in building a more efficient, transparent and reliable financial system that serves the global good – with the renminbi as part of the foundation.
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Renminbi Shift: From Potential to Practicality
Based on an HSBC-commissioned FinanceAsia survey of 120+ institutions managing over US$32 trillion in AUM.
The RMB Opportunity
As Chinese mainland deepens its integration with global markets, the RMB is becoming a key currency in trade, investment, financing and reserve management.
Trade
RMB trade settlement helps global traders broaden commercial relationships while reducing transaction costs and hedging risk. With China as a leading goods trader, invoicing directly in RMB can streamline payment flows and strengthen supply chain resilience.
Investment
Access Chinese mainland’s onshore capital markets through Stock Connect, Bond Connect and direct investment channels, enabling portfolio diversification and exposure to the world’s second-largest economy via RMB-denominated equities, bonds and wealth management products.
Financing
Offshore RMB financing through Dim Sum bonds, loans and trade credit offers Chinese and international firms an additional funding source, supported by competitive pricing for high-quality issuers and diversified currency access for global borrowers.
Reserve Management
The IMF’s inclusion of RMB in the Special Drawing Right basket reinforces its role as a global reserve asset. For central banks, RMB holdings can provide exposure to China’s growth, access to relatively attractive yields, and diversification benefits.
Risk Asia Awards 2025
#1
RMB House of the Year
Why HSBC?
- #1 Foreign Direct Participant bank on Cross-border Interbank Payment System (CIPS) based on RMB clearing volume
- #1 in RMB payments services over 45 markets provide consistent and efficient experience for clients
- Direct participant of CIPS (Cross-Border Interbank Payment System) to facilitate cross-border RMB clearing services
- Market maker and clearing broker for Swap Connect, allowing offshore investors to access Chinese mainland’s interbank interest rate swap market
