Recent Developments In RMB Cross-Border Settlements

Mondaq Business Briefing › Hong Kong Law Articles in English (2011)

Author: Ms Hannah Ha

Author position: Mayer Brown JSM

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Recent Developments In RMB Cross-Border Settlements

Originally published July 21, 2011

Keywords: Renminbi, RMB, MOFCOM, cross-border RMB funds

To speed up the internationalisation of Renminbi (RMB) as a currency to settle cross-border transactions of capital account items, the Ministry of Commerce (MOFCOM), the State Administration of Foreign Exchange (SAFE) and the People's Bank of China (PBoC) have issued a series of administrative circulars since January 2011. These recent developments have put jigsaw puzzles together in respect o...

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