The Bank of China, or BOC, and the City of London co-hosted the China-UK RMB Seminar in Beijing on June 15, where a soft launch of the London RMB Business 2026 Report was held.
Nearly 50 representatives from government, regulators, and the financial and corporate sectors of both countries attended.
Participants discussed cross-border renminbi, or RMB, developments, London's offshore RMB market achievements, RMB clearing and payment infrastructure, and financial institutions' support for corporate internationalization.
Representatives from institutions including the People's Bank of China, or PBOC, the Cross-border Interbank Payment System Co, or CIPS, BOC, and HSBC shared updates and case studies, highlighting the role of RMB internationalization in facilitating trade and investment, enhancing cross-border financial services, and supporting high-quality China-UK business development.
During the event, the City of London previewed the London RMB Business 2026 Report, which was jointly led by the City of London and PBOC's Representative Office for Europe, with BOC as a core contributor. The report reviews the progress, challenges, and outlook of London's offshore RMB market.
