Hong Kong Remains Biggest Offshore RMB Centre

Hong Kong remains the world’s largest offshore renminbi (RMB) payments, processing 80% of all RMB payments according to date from SWIFT.

Although nearly 100 countries had RMB payments with Hong Kong and China in September 2012, 90% is concentrated in 10 countries; the UK has a 28% share (25% in January 2012) followed by Singapore with 26% (34% in January 2012). 

Overall, RMB payments declined by 7.4 % compared to August 2012, whereas all currencies declined by 4.3%. The RMB remains its 14th position in the ranks of world payments currencies, with a share of 0.51% against 0.53% in August 2012.

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