HSBC’s Vina Cheung comments on SWIFT’s RMB Tracker for March 2016

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SWIFT’s RMB Tracker for March 2016 shows that RMB usage has reached nearly 40% adopted across financial institutions worldwide.

Vina Cheung, Global Head of RMB Internationalisation, Global Payments and Cash Management, HSBC comments:

“With almost 40 percent of international financial institutions facilitating RMB payments, it is clear that the Chinese currency is growing in its role as a global trade, investment, and reserve currency. The growth of payments inter-connectivity ‎between Asia, the US and Europe demonstrates the clear value in having a global banking reach that enables clients at both ends of the world’s largest trade corridors to connect and transact in RMB.”