16 July 2019

PBoC official calls for more RMB financial products, HKEJ says

A senior official of the People’s Bank of China (PBoC) is encouraging foreign companies to develop more yuan-denominated investment and financial products, noting that the renminbi faces bright prospects as a major settlement currency because of its widening use and the further opening of the country’s financial markets, the Hong Kong Economic Journal reported Thursday. Li Bo, head of the PBoC second monetary policy department, also said in his article in the China Finance magazine that liquidity of offshore renminbi can be enhanced through various ways such as allowing domestic banks to provide renminbi loans to overseas projects and expanding renminbi financing channels for foreign banks operating in China, the report said.

– Contact HKEJ [email protected]





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