London RMB Business Bi-annual Report

In 2023, London’s offshore RMB market remained resilient. The average daily CNH FX trading volume, the value of new dim sum bonds issuance, the amount of RMB deposits and loans, the total value of China-UK cross-border RMB transactions and the RMB clearing volume all increased YoY. According to SWIFT, the UK retained its position as the largest RMB FX spot transaction hub and the second largest offshore RMB payments centre in the world.

In addition to the data, this edition of the report features three columns on significant topics for anyone working in the sector: the new measures promoting the high-level opening-up of China’s bond market, China-UK cross-border collateral cooperation, and the rise of the carbon trading market in China.

You can find previous issues of the report in our China Programme Publications.